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Processing Margin Estimates for DDGS in Corn Ethanol Enterprises of China--1/22/2021

2021-01-22 www.cofeed.com
Product Province Corn Price Ethanol Price Processing Fee DDGS Price Margin
(CNY/tonne)
Domestic DDGS Jilin 2800 6800 1100 2850 -278
Heilongjiang 2645 6700 1100 2500 -210
Hebei 2845 7400 1050 2700 110
Henan 2940 7350 1050 2800 -140
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.