Feed Production & Corn Consumption in October

By CnAgri2012-11-26 12:47:19 Print     Feed production by medium and large mills registered 20.179 million MT in October, 2.9% more than the month before and 9.64% more than the same period of last year. Feed production totaled 177 million MT in January ~ October, an increase of 16% on the year-on-year basis. The promulgated figures showed a production increase of 13.2% in October and 18.5% in January ~ October, both on the year-on-year basis.
 
    The productions of compound feed, condensed feed and premixed feed were estimated to be 18.35 million MT, 1.388 million MT and 441,000 MT respectively in October. The productions of compound feed, condensed feed and premixed feed were estimated to be 160.5 million MT, 12.931 million MT and 4.014 million MT respectively in January ~ October.
 
    10.826 million MT corn was consumed by compound feed mills and 10.879 million MT by mills of various scales in October. Compound feed mills ran at 66.22% of their capacity in October. The feed industry consumed 97.49 million MT corn in January ~ October.
 
    The feed industry consumed 12.389 million MT grain by-products in October, including 2.407 million MT bran and wheat middling, 1.697 million MT rice husk and broken rice, 1.391 million MT corn bran and protein powder and 48,000 MT beer dregs. The feed industry consumed 117.5 million MT grain by-products in January ~ October, including 67.174 million MT oilseed meal, 21.672 million MT bran and wheat middling, 14.412 million MT rice husk and broken rice, 13.677 million MT corn bran and protein powder and 538,000 MT beer dregs.
 
    Corn consumption for various uses was 16.562 million MT in October. Corn inventory was 177.7 million MT at the end of October, suggesting a stock/consumption ratio of 10.69.
 
    Corn inventory included 12.99 million MT feed mills’ stock, 6.135 million MT processing mills’ stock, 13.35 million MT state reserve and 141 million MT on-farm stock. Farmers sold 24.92% of their corn by October, parallel to the same period of last year.
 
    According to the National Bureau of Statistics, China’s corn production was 192.78 million MT in 2011.
 
    In the 2012/2013 crop year, corn acreage, production and consumption are predicted to be 35.277 million hectares, 200.5 million MT and 191.2 million MT respectively. Year-end corn inventory is predicted to be 52.13 million MT, suggesting a safety index of 27.25%.
 
    Corn price was RMB2,414/MT in October and may average RMB2,318/MT in the crop year, down 1.74% and 3% respectively on the year-on-year basis, attributable to bumper corn harvest, international corn price decline and soft demand from corn deep-processing industry.

         

From “China Grains Market Weekly Report”