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Processing Margin Estimates for DDGS in Corn Ethanol Enterprises of China-6/22/2020

2020-06-22 www.cofeed.com
Product Province Corn Price Ethanol Price Processing Fee DDGS Price Margin
(CNY/tonne)
Domestic DDGS Jilin 1930 5500 1100 1950 268
Heilongjiang 2000 5600 1100 1980 183
Hebei 2165 5300 1050 2000 -545
Henan 2220 5700 1050 2100 -225
1. Processing Fee is the fee for three tonnes of corn, and the margin is from one tonne of ethanol.
2. Margin is estimated at the average level in this industry, and there may be some differences due to various scales of factories.
3. Margin is calculated with the intraday corn price, rather than that of the inventory, so there may also be some differences from actual margin.