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Processing Margin Estimates for DDGS in Corn Ethanol Enterprises of China--7/17/2020

2020-07-17 www.cofeed.com
Product Province Corn Price Ethanol Price Processing Fee DDGS Price Margin
(CNY/tonne)
Domestic DDGS Jilin 2060 5650 1100 2100 155
Heilongjiang 1990 5750 1100 2030 406
Hebei 2240 5550 1050 2000 -520
Henan 2260 5750 1050 2200 -210
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.