Corn Feed Production & Consumption in February

By CnAgri2013-03-26 10:28:54 Print Feed production by medium and large mills registered 15.922 million MT in February, 6.4% less than the month before but 9.03% more than the same period of last year. Feed production totaled 32.926 million MT in January ~ February, an increase of 15.6% on the year-on-year basis.
 
The promulgated figures showed a production increase of 7.7% in February and 14.4% in January ~ February, both on the year-on-year basis.
 
BOABC estimates that compound feed production, condensed feed production and premixed feed production were about 14.048 million MT, 1.431 million MT and 444,000 MT respectively in February. 8.709 million MT corn was consumed by compound feed mills and 9.076 million MT by mills of various scales in February.
 
Compound feed mills ran at 58.67% of their capacity in February.
 
Other feed raw material supply totaled 10.649 million MT in February, including 1.895 million MT bran and wheat middling, 1.299 million MT rice husk and broken rice, 1.518 million MT corn bran and protein powder, 40,000 MT beer dregs, etc.
 
Corn consumption for various uses was about 14.815 million MT in February. Corn inventory was 157 million MT at the end of February, suggesting a stock/consumption ratio of 10.63.
 
Corn procurement totaled 61.305 million MT in 2012/2013 by February, of which 12.265 million MT were procured by state-run companies.
 
COFCO imported 315,000 MT corn from the USA in 2012/2013 by February.
 
Corn inventory in February consisted of 23.906 million MT state reserve, 15.625 million MT feed mills’ stock, 8 million MT traders’ stock and 100 million MT on-farm stock. Farmers sold 57.07% of their corn by February. Unfavorable weather and low procurement price affected farmers’ sale of corn.
 
Corn price averaged RMB2,409/MT in February, up 3.13% on the year-on-year basis. Corn price averaged RMB2,424/MT between August of 2012 and February of 2013. Corn price is predicted to be RMB2,414/MT in 2012/2013 on average.

From “China Grains Market Weekly Report”