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Processing Margin Estimates for DDGS in Corn Ethanol Enterprises of China--3/22/2021

2021-03-22 www.cofeed.com
Product Province Corn Price Ethanol Price Processing Fee DDGS Price Margin
(CNY/tonne)
Domestic DDGS Jilin 2770 7100 1100 2750 28
Heilongjiang 2690 7000 1100 2780 193
Hebei 2900 7300 1050 2750 -113
Henan 2930 7250 1000 2700 -245
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.