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Crush Margin Estimates for Cottonseed in Main Producing Regions of China--3/31/2021

2021-03-31 www.cofeed.com
Regions Income (CNY/tonne) Expenditure  (CNY/tonne) Margin
Oil Meal Hull Linters Total Cottonseed Crushing
Northwest Shandong 8,500  3,000  1,550  4,800  3,042  3,180  220  -359 
Southwest Shandong 8,800  3,100  1,650  5,000  3,153  3,200  240  -288 
Hebei 8,800  3,100  1,600  5,000  3,115  3,200  200  -285 
Henan 9,000  3,150  1,750  4,800  3,075  3,000  220  -145 
North Xinjiang 8,300  2,850  1,140    2,988  2,780  180  28 
South Xinjiang 8,200  2,800  1,050    2,921  2,800  190  -69 
National Average 8,640  3,030  1,568  4,820  2,998  3,190  210  -402 
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.