Finally worked out what i was doing wrong, was using the 6 digit code instead of the 8 digit code, must give different data for the combined group.
Bottom table shows imports to China per country, the 80 CNY/kg for December from Australia equates to A$17.50/kg gross, we need to subtract freight, the amount we pay, and the amount the government pays to get to near net returns.
It brings the total for H1 exports to China from Australia to and extra $105m for an extra 4kt, which is pretty huge incremental gain, there are several things to consider;
IFAM was in place last year, so the costs should be comparable, but Mark did say in the Q1 update that returns where still below domestic when they where looking pretty good, but not as good as this, so perhaps freight or other charges have increased.
Our domestic prices might have increased slightly per kg, due to Huon displacing our BTC which is lower cost.
The Huon takeover by JBS might have resulting in them doing more export through their existing (and reportedly very good) distribution channels.
Huon decided to keep there FY22 production target at 35k, which means flat volume.
We could be at high as 41k + 2.5k of inventory unwind from last year, which is an extra 6kt on last year.
Domestic demand should be relatively flat, so the extra volume exported has to be an increase above the volume harvested previous H1.
With prices high, Huon or ourselves might have decided to harvest more in H1 than last FY, making it hard to estimate if its our extra tonnes, or Huons.
However it ends up, i dont see any way either Huon or ourselves will be complaining.
