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Crush Margin Estimates for Cottonseed in Main Producing Regions of China--2/20/2021

2021-02-20 www.cofeed.com
Regions Income (CNY/tonne) Expenditure  (CNY/tonne) Margin
Oil Meal Hull Linters Total Cottonseed Crushing
Northwest Shandong 7,800  3,300  1,800  4,500  3,155  3,160  220  -225 
Southwest Shandong 7,700  3,380  1,800  4,500  3,167  3,180  240  -253 
Hebei 7,800  3,400  1,800  4,500  3,168  3,200  200  -233 
Henan 7,800  3,600  1,750  3,500  3,044  3,000  220  -176 
North Xinjiang 7,200  2,900  1,250    2,892  2,650  180  62 
South Xinjiang 7,200  2,950  1,150    2,888  2,680  190  18 
National Average 7,700  3,250  1,830  3,950  3,003  3,140  210  -347 
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.