Domestic oil mills' operating rates continue to recover, weekly soybean crushing volume approaches 2 million tons

Since March, the operating rate of domestic oil mills has continued to rise, with weekly soybean crushing volume approaching 2 million tons. According to monitoring of crushing activity, as of March 20, the total soybean crushing volume at major oil mills nationwide was about 5.5 million tons. The estimated total crushing volume for the month is around 7.5 million tons, an increase of 2.8 million tons month-on-month and about 1.3 million tons year-on-year, which is approximately 800,000 tons higher than the average for the same period over the past three years. Last week, soybean crushing volume at major domestic oil mills slightly increased. Monitoring shows that as of the week ending March 20, the soybean crushing volume at major oil mills was 1.99 million tons, up 20,000 tons week-on-week, up 1.95 million tons month-on-month, and up 580,000 tons year-on-year, which is 530,000 tons higher than the average for the same period over the past three years. It is expected that the operating rate of oil mills will slightly decline this week, with soybean crushing volume around 1.9 million tons. (National Grain and Oil Information Center)