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Crush Margin Estimates for Cottonseed in Main Producing Regions of China--9/25/2020

2020-09-25 www.cofeed.com
Regions Income (CNY/tonne) Expenditure  (CNY/tonne) Margin
Oil Meal Hull Linters Total Cottonseed Crushing
Northwest Shandong 6,700  3,000  1,700  3,700  2,860  2,780  220  -140 
Southwest Shandong 6,900  3,050  1,750  3,800  2,917  2,790  240  -114 
Hebei 6,900  3,100  1,750  3,850  2,957  2,800  200  -43 
Henan 7,000  3,150  1,750  3,800  2,945  2,600  220  125 
North Xinjiang 6,200  2,750  1,100    2,768  2,300  180  288 
South Xinjiang 6,300  2,700  1,050    2,739  2,300  190  249 
National Average 6,650  3,008  1,658  3,740  2,841  2,700  210  -69 
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.