Today is 03/29/2024

China’s Soybean Crush Weekly (Week 47, 2020)

2020-11-23 www.cofeed.com

Domestic crushers lower down operation rates this week (Nov 14-20), as they have to halt or reduce production under swelling meal inventories. Soybean crush at domestic mills totals 2,035,680 tonnes (meal 1,608,187 tonnes and oil 386,779 tonnes), down 84,400 tonnes or 3.98% from 2,120,080 tonnes last week. Meanwhile, operation rates (capacity utilization) are 58.14%, down 2.41% from 60.55% in the previous week. As mills have a plan for downtime due to ballooning meal stockpiles and toward the month end, soybean crush is expected to fall further to 2 mln tonnes and 1.98 mln tonnes in the next two weeks, respectively.

 

Soybean crush nationwide is estimated at 8.84 mln tonnes in November at current utilization rate, above than 8.3883 mln tonnes in the previous month and 7.1261 mln tonnes of the corresponding period last year.

 

In the crop year of 2020/21 (from Oct 1st, 2020), China’s soybean crush totals 14,553,184 tonnes, up 2,612,934 tonnes or 21.88% from 11,940,250 tonnes a year earlier.

 

In the calendar year of 2020 (from Jan. 1st, 2020), China’s soybean crush amounts to 84,159,870 tonnes, up 10,177,935 tonnes or 13.76% from 73,981,935 tonnes of the corresponding period in 2019.

 

 

Fig.: Soybean Weekly Crush in China (2016-2020)

 

Details for weekly crush by region and by group are shown as follows: