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Crush Margin Estimates for Cottonseed in Main Producing Regions of China--3/17/2021

2021-03-17 www.mnk-9.com
Regions Income (CNY/tonne) Expenditure  (CNY/tonne) Margin
Oil Meal Hull Linters Total Cottonseed Crushing
Northwest Shandong 9,100  3,050  1,700  5,400  3,222  3,300  220  -298 
Southwest Shandong 9,100  3,150  1,700  5,500  3,260  3,300  240  -280 
Hebei 9,200  3,100  1,720  5,500  3,235  3,320  200  -286 
Henan 9,300  3,200  1,800  4,800  3,140  3,000  220  -80 
North Xinjiang 8,500  2,900  1,240    3,071  2,880  180  11 
South Xinjiang 8,500  2,900  1,130    3,038  2,900  190  -52 
National Average 9,060  3,090  1,692  5,220  3,134  3,320  210  -396 
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.