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Crush Margin Estimates for Cottonseed in Main Producing Regions of China--12/31/2020

2020-12-31 www.cofeed.com
Regions Income (CNY/tonne) Expenditure  (CNY/tonne) Margin
Oil Meal Hull Linters Total Cottonseed Crushing
Northwest Shandong 7,700  3,050  1,650  3,800  2,937  2,920  220  -204 
Southwest Shandong 7,800  3,050  1,650  3,900  2,945  2,940  240  -236 
Hebei 7,900  3,000  1,700  3,900  2,938  3,000  200  -263 
Henan 7,900  2,850  1,600  3,850  2,734  2,720  220  -207 
North Xinjiang 6,900  2,600  1,180    2,676  2,500  180  -4 
South Xinjiang 6,950  2,700  1,100    2,710  2,650  190  -130 
National Average 7,740  2,912  1,698  3,820  2,821  2,910  210  -299 
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. National Average is the average of all provinces in China.