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Crush Margin Estimates for Cottonseed in Main Producing Regions of China--07/24/2020

2020-07-24 www.cofeed.com
Regions Income (CNY/tonne) Expenditure  (CNY/tonne) Margin
Oil Meal Hull Linters Total Cottonseed Crushing
Northwest Shandong 6,200  3,150  1,700  3,800  2,878  2,860  220  -202 
Southwest Shandong 6,250  3,200  1,750  3,850  2,916  2,880  240  -205 
Hebei 6,200  3,200  1,750  3,900  2,931  2,860  200  -129 
Henan 6,400  3,200  1,650  3,800  2,867  2,560  220  87 
North Xinjiang 5,400  2,800  1,050    2,669  2,400  180  89 
South Xinjiang 5,500  2,800  1,200    2,728  2,400  190  138 
National Average 6,165  3,085  1,662  3,760  2,826  2,860  210  -244 
Remarks
1. Cottonseed is calculated by the market price.
2. Delinted cottonseed in Xinjiang, and raw cottonseed in other regions.
3. Total Income includes soapstock.
4. The margin estimate is calculated by intraday cottonseed prices, so the cost may have some difference if mills use their stockpiles.
5. Nationwide Average is the average of all provinces in China.