Feed Production & Corn Consumption in June in China

By CnAgri2012-07-23 13:36:27 Print

Feed production by medium and large mills registered 19.685 million MT in June, 11.9% more than the month before and 14.1% more than the same period of last year. Feed production totaled 99.343 million MT in January ~ June, an increase of 20.88% on the year-on-year basis. The promulgated figures showed a feed production increase of 13.5% in June and 21.6% in January ~ June, both on the year-on-year basis.

Compound feed production was estimated to be 17.961 million MT in June and 88.895 million MT in January ~ June. Condensed feed production was estimated to be 1.307 million MT in June and 8.033 million MT in January ~ June. Premixed feed production was estimated to be 417,000 MT in June and 2.415 million MT in January ~ June.

Calculating compound feed and condensed feed by complete feed, medium and large feed mills consumed about 10.777 million MT corn in June and feed mills of various scales consumed about 10.859 million MT corn.

56.208 million MT corn was consumed in January ~ June for the production of 111.846 million MT complete feed.

Compound feed mills’ capacity utilization was 64.81%.

3.244 million MT other energy feed material was consumed in June and 16.492 million MT in January ~ June. 7.051 million MT protein feed material was consumed in June and 36.35 million MT in January ~ June.

71.569 million MT grain by-products were used in feed production in January ~ June, including 44.036 million MT oilseed meal, 11.62 million MT bran, 7.763 million MT rice husk and broken rice and 266,000 MT beer dregs.

Corn consumption for various uses and corn inventory were estimated to be 16.752 million MT and 56.55 million MT respectively in June, suggesting a stock/consumption ratio of 3.38, higher than the 2.38 recorded in the same period of last year.

Corn inventory in June included 10.777 million MT feed mills’ stock, 22.023 million MT state reserve and 7.385 million MT on-farm stock. Farmers sold 96.32% of their corn by June.

In the 2011/2012 crop year, corn production and consumption were 193.1 million MT and 180 million MT respectively. Year-end inventory was 45.49 million MT, representing a safety index of 25.21%.

Corn price averaged RMB2,426/MT in June and RMB2,385/MT during August of 2011 and June of 2012, up 8% and 16.28% respectively on the year-on-year basis.

Planted corn acreage, corn production and corn consumption are predicted to be 34.917 million hectares, 199 million MT and 187 million MT respectively in 2012/2013. Year-end inventory is predicted to be 59.506 million MT, suggesting a safety index of 31.81%. Corn price is predicted to be RMB2,506/MT in the crop year on average, up 5% on the year-on-year basis.

From "China Grains Market Weekly Report"