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Processing Margin Estimates for DDGS in Corn Ethanol Enterprises of China--9/15/2020

2020-09-15 www.cofeed.com
Product Province Corn Price Ethanol Price Processing Fee DDGS Price Margin
(CNY/tonne)
Domestic DDGS Jilin 2170 5900 1100 2150 118
Heilongjiang 2021 6000 1100 2100 622
Hebei 2300 5650 1050 2150 -473
Henan 2310 5750 1050 2250 -318
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.