Report Highlights

In anticipation of higher demand for industry feed and protein meal, based on a recovery in swine production and steady growth in the poultry sector, China's soybean imports are forecast to hit a record of 86 million metric tons in MY16/17, up from the estimated 83 MMT in MY15/16. Post's forecast for MY16/17 soybean imports is slightly lower than the official forecast of 87 MMT. China's recent sale of stored oilseed and oilseed product reserves (soybeans and rapeseed oil) will absorb some of the market share for food soybeans and vegetable oils. However, forecast lower imports of DDGS as a result of China's anti-dumping investigation may increase demand for soybean meal and thus support growth of soybean imports.

Chinese soybean production is forecast to recover to 12.5 MMT

Due to recent change in the Chinese government's corn policy, domestic soybean production is forecast to recover in MY16/17 to 12.5 MMT from the estimated 11.6 MMT in MY15/16. Post's MY16/17 production, is slightly higher than the USDA June 2016 official data of 12.2 MMT. This is based on a larger forecast planted area of 6.9 MHa, up 7.1 percent from the previous year. In late July, China's Ministry of Agriculture announced that newly added soybean area reached 8 million Mu (or 533,000 Ha) in MY16/17 as a result of government's efforts and policy support to restructure the crop mix.

The MY16/17 soybean planted area is up by 500,000 Ha from the previous year. The highest increase in planted area is in Heilongjiang province followed by Henan, Anhui and Shandong. MY16/17 corn acreage in the province is down by 1 million hectares (MHa), part of which was substituted with soybeans. The Branch's 2016 soybean acreage increased by 40 percent to 152,000 Ha from the 108,666 Ha last year. This is in response to the government's call for less corn planting and also to keep good crop rotation practices. However, recovery of the soybean area remains difficult to predict for the coming years as many soybean farmers expressed concern about the price and profits for the MY16/17 crop. The domestic food soybean market continues to be challenged by imported soybeans used for food processing. According to an MOA survey released during the first week of July, the growth of MY16/17 soybean crop in the Northeast soybean-producing region is rated as “good" due to favorable weather conditions.

Soybean imports forecast at 86 MMT

Post's forecast for MY16/17 soybean imports is 86 MMT, which is based on a forecast steady growth in protein meal consumption to meet the growing animal production sector. This is a net increase of 3 MMT from MY15/16 but lower than the June 2016 official forecast of 87 MMT. Post estimate for MY15/16 soybean imports estimate of 83 MMT, up by 4.65 MMT from MY14/15. China's soybean imports continue to be strong hitting 60.6 MMT in the first nine months of MY15/16, up 12 percent over the previous year. CNGOIC estimated MY15/16 soybean imports at 83 MMT based on contracts during the last quarter of MY15/16. The current profit margins (during the 30th week/July 16- 22) for swine farmers remained high ranging from RMB500 ($76) to 700($106)/head but much lower than the RMB1,000 ($151) to 1,500 ($227)/head in May. There was a slight fall in the 2016 pork production based on a slow recovery of the swine and sow inventory. Poultry production remained generally stable in July. Industry leaders estimate moderate growth for both poultry meat and eggs in 2016. MOA forecast feed production growth is expected to level off during “the 13th Five Year Plan Period" (2016-2020), with a yearly growth rate ranging from 1.5 to 2 percent or annual net growth of 4 to 6 MMT. The growth is mainly driven by swine (of which currently 75 percent are raised with industry feed) and ruminant farming. MOA estimates soybean meal use increased rapidly to 55 MMT in 2015, a net growth of 5.5 MMT from 2014. This is based on a small domestic supply of other protein meals and relatively low price for soybean meal (which is also supported by industry insiders). In 2014, the net growth in soy meal use was 3 MMT.

Factors impacting China's soybean imports

The Chinese government's decision to sell part of its 6 MMT of old soybean reserves is likely to impact soybean import growth in MY15/16 and MY16/17. Two auctions were held with more than 600,000 tons sold at a relatively cheap price.

During the first two auctions, the majority of the buyers were food processors but more crushers are expected to join the auctions as the price remains low making crushing margins competitive. A leading industry source estimated that 3 MMT might be sold when the auction sales end at the September. Of the total estimated sold, 2 MMT could likely be used for crushing while the rest for food processing or protein extraction. The high purchase rate reflects tight supplies and increasing price for food soybeans as China reportedly intensified scrutiny over imported GMOderived soybeans for food use. The low auction price remains attractive compared to the current market price of RMB4,400-4,500/ton (or $667 - 682/ton) for 2015 domestic soybeans and the price for imported soybeans at RMB3,800 or $576/ton. Consequently, the U.S. soybean contract/exports to China in the second half of 2016 might be impacted. A favorable factor supporting soybean import growth is China's anti-dumping investigation against U.S. DDGS imports which may result in 2 to 3 MMT less of DDGS imports in 2016.

China's DDGS imports declined significantly to about 1.5 MMT during the first 6 months of 2016 compared to the 2.4 MMT in the previous year. Total DDGS imports could fall to 3 MMT from the record 6.3 MMT in 2015 (or average yearly imports of 5 MMT in recent years). Lower DDGS imports in 2017 may continue and may boost China's use of soybean meal.

China's soybean use for food continues to grow

Post raised its forecast for China's soybean use for food to 11.7 MMT in MY16/17, up from the estimated 11.4 MMT in MY15/16. China's soybean use for food includes use of soybeans for processing traditional soybean food, processing food ingredients (protein) and direct home use as food. China's industry source estimated soybean use for food at 11.5 MMT in 2015, up about 4 percent over 2014. Out of the total soybean use, 6 MMT is used for processing traditional soybean food, 2.2 MMT for processing of food ingredients, and 3.3 MMT is for direct home food use. Industry statistics covering the top 50 soybean food manufacturers show total soybean use in 2015 increased 4.6 percent from the previous year. Annual soybean protein exports stand at about 130,000 tons. Despite all efforts by the industry, estimating China's soybean use for food remains a challenge due to the numerous small players engaged in this sector. In general, soybean products are increasingly popular among Chines consumers which will drive soybean use for food to grow steadily in the coming years.

Domestic soybean production switched to food use

In “the 13th Five Year Development Plan" MOA clarified that domestic soybeans are considered a “grain product." In other words, the planting of domestic soybeans is mainly aimed at meeting the domestic demands for soybean food. Accordingly, the government has adjusted its soybean development policy to include more support to advantaged soybean-producing regions and focused its soybean research/technology on protein content and other quality factors to improve the quality of soybean food. China's industry leaders called for brand-building for “China Food Soybeans" to raise its competitiveness in the international market. Industry leaders are also concerned about unlabeled GMO soybean food will shake consumer's confidence on overall soybean food given the sensitivity to GMO-derived food among Chinese consumers. In an effort to protect the share and competitive price of domestic soybeans in domestic food processing market, the government is expected to continue tighter control over the use of imported GMO soybeans for food processing.

Rapeseed production is expected fall

Based on a forecast planted area of 7 MHa, down 4.1 percent from the previous year, MY16/17 rapeseed production is forecast to fall by 5.6 percent to 13.5 MMT.

Rapeseed imports forecast at 3.9 MMT

Post's forecast for MY16/17 rapeseed imports is 3.9 MMT, unchanged from the estimate imports for MY15/16, but higher than official forecast of 3.8 MMT. Rapeseed imports face uncertainty as the Chinese regulatory authorities are likely to enforce stricter inspection rules in September 2016. Based on a new inspection requirement, rapeseed suppliers will be requested to reduce foreign matter content in rapeseed exports to China to 1 percent from the current 2.5 percent. Additionally, an expected smaller global rapeseed supply in MY16/17 may also impact Chinese rapeseed imports. Lastly, China's cumulative sales of state rapeseed oil reserves of 2.28 MMT (ended in June) are expected to absorb part of the rapeseed product market share for the rest of 2016. That said, a significant fall in rapeseed imports is not expected given China's large crushing capacity and smaller than officially reported domestic production.

MY16/17 Chinese peanut production to rise

MY16/17 peanut production is expected to grow to 17 MMT given its comparatively stable profits and also in response to lower government support for corn planting. CNGOIC's late July report raised MY16/17 peanut production to 17.7 MMT, up 7.7 percent over the previous year.

Forecast MY16/17 peanut imports remain strong

Post raised its MY15/16 peanut imports to 450,000 tons primarily due to price advantages for imported peanuts both in shell and shelled. Comparatively, Post forecast MY16/17 imports are down to 400,000 tons mainly based on expected high domestic production.

Chinese imports of both shelled and in-shell peanuts surged during the first three quarters of MY15/16. The imports of shelled peanuts are mainly from Senegal (about 70 percent) and the in shell peanuts are primarily from the United States. Industry sources reported that the import boom is mainly driven by price as the shelled peanuts from Senegal stood at about $840/ton while the in shell peanuts from United States averaged at about $510/ton, compared to China's price for peanuts/shelled for oil crushing ranging from RMB8,400 ($1,270) to 8,700 ($1,320)/ton. These imports remain competitive compared to domestic product even after a combined 30 percent import duty and VAT (imports from Senegal are exempted from import duty). The majority of imported peanuts are crushed for oil. A small percentage may be used for food/snacks provided the quality factors meet requirements. Peanut import shipments usually decline during July to September as the crushers try to avoid the hot season to guarantee oil quality. Industry traders speculate that higher domestic peanut prices may be indicative of a slightly lower peanut production than officially reported during the past two marketing years. It is too early to tell whether the recent upward pressure on domestic prices is in fact a result of tighter supplies or an increase in domestic demand. Currently, Post forecast MY16/17 imports are 400,000 tons which could fall given the MY16/17 domestic peanut acreage seems to be expanded greatly coupled with a continuing depreciation of Chinese currency, both adding pressure on import profit margins.

Cotton seed production is expected to fall to 8.3 MMT

Post's forecast MY16/17 cotton seed production is 8.3 MMT, significantly lower from the 11 MMT in MY14/15, and lower than the estimated 8.9 MMT in MY15/16. In response to low profit expectations due to the government's low support for cotton production, Post's forecast for MY16/17 cotton acreage is more than 9 percent lower than the previous year. According to a survey done in May by the China Cotton Association, MY16/17 cotton acreage is expected to fall by 10 percent from MY15/16.

Vegetable oil imports level off

Based on the high crushing volume of oilseeds and the sales of state oilseed product reserves, China's vegetable oil imports in MY15/16 declined and continue to be flat in MY16/17.

MY16/17 soybean oil imports are forecast at 650,000 tons, unchanged from MY15/16 estimate. MY16/17 rapeseed oil imports are forecast at 700,000 tons, down from the estimate 800,000 tons for MY15/16. Peanut oil imports are forecast at 140,000 tons in MY16/17, unchanged from MY15/16. Due to the relatively cheaper prices for Ukraine and Russia supplies, and Chines consumer's diversified preferences for vegetable oil, sunflower seed oil imports are up to 0.72 MMT in MY15/16 and expected to continue high at 0.7 MMT in MY16/17.

Post estimate of MY15/16 palm oil imports are lowered to 5.2 MMT based on lower than expected imports in recent months. This is due to a combination of factors including resumption of export duty in exporting countries, weak demand for palm oil, an adequate supply of other vegetable oils, and depreciation of the Chinese currency. Palm oil imports appear to recover moderately in July through September based on improved import profits and are likely to temper the fall in imports in MY15/16. Post preliminary forecast of MY16/17 palm oil imports are 5.3 MMT, up from the previous year.

As previously reported, since late 2015, China began to sell its aged rapeseed oil reserves, estimated at 6.41 MMT. Based on CNGOIC, as of June 1, 2016, a total of 2.28 MMT of rapeseed oil reserves were sold. As of late July, the 2.28 MMT of rapeseed oil sold has been delivered from the state warehouses to refineries and will gradually enter into the end-user market during the second half of 2016. The government suspended the auction of rapeseed oil in June although no official news were published. Based on CNGOIC's estimate, as of this report, China's state rapeseed oil reserve stands at about 4.1 MMT.

Oilseeds PSD Tables

Soybeans

PSD Table

Country

China, Peoples Republic of

Commodity

Oilseed, Soybean (1000 tons; 1000 Ha)

2014/15

2015/16

2016/17

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

Market Year Begin

10/2014

10/2015

10/2016

Area Planted

7,700

6,800

6,600

6,440

6,200

6,900

Area Harvested

6,800

6,800

6,440

6,440

6,800

6,900

Beginning Stocks

13,877

13,877

17,034

16,234

16,234

14,984

Production

12,150

12,150

11,600

11,600

12,200

12,500

MY Imports

78,350

78,350

83,000

83,000

87,000

86,000

MY Imp. from U.S.

29,697

29,697

28,500

28,500

30,000

30,000

MY Imp. from EU

0

0

0

0

0

0

Total Supply

104,377

104,377

111,634

110,834

115,434

113,484

MY Exports

143

143

150

150

150

150

MY Exp. to EU

10

0

10

10

10

10

Crush

74,500

74,500

81,800

81,500

87,000

86,000

Food Use Dom. Cons.

10,200

11,000

10,650

11,400

10,800

11,700

Feed Waste Dom. Cons.

2,500

2,500

2,800

2,800

3,000

3,000

Total Dom. Cons.

87,200

88,000

95,250

95,700

100,800

100,700

Ending Stocks

17,034

16,234

16,234

14,984

14,484

12,634

Total Distribution

104,377

104,377

111,634

110,834

115,434

113,484

CY Imports

81,740

81,740

83,500

83,500

89,000

86,000

CY Imp. from U.S.

28,000

28,413

29,000

29,000

30,000

30,000

CY Exports

133

133

150

150

150

150

CY Exp. to U.S.

70

70

70

50

70

50

Rapeseed

PSD Table

Country

China, Peoples Republic of

Commodity

Oilseed, Rapeseed (1000 tons;1000 Ha)

2014/15

2015/16

2016/17

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

Market Year Begin

10/2014

10/2015

10/2016

Area Planted

0

7,588

0

7,300

0

7,000

Area Harvested

7,588

7,588

7,300

7,300

7,000

7,000

Beginning Stocks

1,036

1,036

1,499

1,499

1,048

998

Production

14,772

14,772

14,300

14,300

13,300

13,500

MY Imports

4,591

4,591

4,250

3,900

3,800

3,900

MY Imp. from U.S.

0

0

0

0

0

0

MY Imp. from EU

0

0

0

0

0

0

Total Supply

20,399

20,399

20,049

19,699

18,148

18,398

MY Exports

0

0

1

1

0

0

MY Exp. to EU

0

0

0

0

0

0

Crush

18,300

18,300

18,400

18,100

16,800

16,800

Food Use Dom. Cons.

0

0

0

0

0

0

Feed Waste Dom. Cons.

600

600

600

600

600

600

Total Dom. Cons.

18,900

18,900

19,000

18,700

17,400

17,400

Ending Stocks

1,499

1,499

1,048

998

748

998

Total Distribution

20,399

20,399

20,049

19,699

18,148

18,398

CY Imports

4,470

4,470

4,200

4,000

3,800

4,000

CY Imp. from U.S.

0

0

0

0

0

0

CY Exports

0

0

0

0

0

0

CY Exp. to U.S.

0

0

0

0

0

0

Peanuts

PSD Table

Country

China, Peoples Republic of

Commodity

Oilseed, Peanut (1000 tons; 1000 Ha)

2014/15

2015/16

2016/17

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

Market Year Begin

10/2014

10/2015

10/2016

Area Planted

4,604

4,604

4,600

4,600

4,700

4,750

Area Harvested

4,604

4,604

4,600

4,600

4,700

4,750

Beginning Stocks

0

0

0

0

0

0

Production

16,482

16,482

16,500

16,500

16,900

17,000

MY Imports

161

161

380

450

400

400

MY Imp. from U.S.

0

21

0

5

0

10

MY Imp. from EU

0

0

0

0

0

0

Total Supply

16,643

16,643

16,880

16,950

17,300

17,400

MY Exports

502

502

500

500

500

550

MY Exp. to EU

37

37

50

50

50

50

Crush

8,394

8,394

8,600

8,750

8,900

9,080

Food Use Dom. Cons.

6,650

6,650

6,780

6,700

6,900

6,750

Feed Waste Dom. Cons.

1,097

1,097

1,000

1,000

1,000

1,020

Total Dom. Cons.

16,141

16,141

16,380

16,450

16,800

16,850

Ending Stocks

0

0

0

0

0

0

Total Distribution

16,643

16,643

16,880

16,950

17,300

17,400

CY Imports

165

175

350

450

400

450

CY Imp. from U.S.

0

12

0

8

0

10

CY Exports

511

509

500

500

500

520

CY Exp. to U.S.

0

0

0

0

0

0

Cotton Seed

PSD Table

Country

China, Peoples Republic of

Commodity

Oilseed, Cotton Seed (1000 tons; 1000 Ha)

2014/15

2015/16

2016/1

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

Market Year Begin

10/2014

10/2015

10/2016

Area Planted

4,400

4,325

3,700

3,200

3,100

2,900

Area Harvested

4,400

4,325

3,100

3,200

2,900

2,900

Seed to Lint Ratio

0

0

0

0

0

0

Beginning Stocks

0

0

0

0

0

0

Production

11,757

11,757

8,820

8,900

8,428

8,300

MY Imports

5

5

5

5

5

10

MY Imp. from U.S.

0

0

0

0

0

0

MY Imp. from EU

0

0

0

0

0

0

Total Supply

11,762

11,762

8,825

8,905

8,433

8,310

MY Exports

0

0

0

0

0

0

MY Exp. to EU

0

0

0

0

0

0

Crush

9,600

9,600

7,630

7,600

7,200

7,060

Food Use Dom. Cons.

0

0

0

0

0

0

Feed Waste Dom. Cons.

2,162

2,162

1,195

1,305

1,233

1,250

Total Dom. Cons.

11,762

11,762

8,825

8,905

8,433

8,310

Ending Stocks

0

0

0

0

0

0

Total Distribution

11,762

11,762

8,825

8,905

8,433

8,310

CY Imports

6

6

5

5

5

10

CY Imp. from U.S.

0

0

0

0

0

0

CY Exports

0

0

0

0

0

0

CY Exp. to U.S.

0

0

0

0

0

0

MEAL PSD TABLES

Soybean Meal

PSD Table

Country

China, Peoples Republic of

Commodity

Meal, Soybean (1000 tons)

2014/15

2015/16

2016/17

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

Market Year Begin

10/2014

10/2015

10/2016

Crush

74,500

74,500

81,800

81,500

87,000

86,000

Extr. Rate, 999.9999

0.792

0.792

0.792

0.792

0.792

0.792

Beginning Stocks

0

0

0

0

0

0

Production

59,008

59,008

64,782

64,548

68,900

68,110

MY Imports

58

58

30

27

30

20

MY Imp. from U.S.

0

0

0

0

0

0

MY Imp. from EU

0

0

0

0

0

0

Total Supply

59,066

59,066

64,812

64,575

68,930

68,130

MY Exports

1,595

1,577

1,850

1,800

1,850

1,850

MY Exp. to EU

60

60

30

100

30

100

Industrial Dom. Cons.

980

980

1,000

1,000

1,020

1,050

Food Use Dom. Cons.

0

0

0

0

0

0

Feed Waste Dom. Cons.

56,491

56,509

61,962

61,775

66,060

65,230

Total Dom. Cons.

57,471

57,489

62,962

62,775

67,080

66,280

Ending Stocks

0

0

0

0

0

0

Total Distribution

59,066

59,066

64,812

64,575

68,930

68,130

CY Imports

60

60

30

25

30

25

CY Imp. from U.S.

0

0

0

0

0

0

CY Exports

1,714

1,696

1,850

1,800

1,850

1,900

CY Exp. to U.S.

20

20

20

20

0

30

Soybean Oil

PSD Table

Country

China, Peoples Republic of

Commodity

Oil, Soybean (1000 tons)

2014/15

2015/16

2016/17

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

Market Year Begin

10/2014

10/2015

10/2016

Crush

74,500

74,500

81,800

81,500

87,000

86,000

Extr. Rate, 999.9999

0.179

0.179

0.179

0.179

0.1792

0.179

Beginning Stocks

965

965

778

778

693

750

Production

13,347

13,347

14,655

14,590

15,587

15,390

MY Imports

773

773

820

650

820

650

MY Imp. from U.S.

150

0

100

30

100

30

MY Imp. from EU

0

0

0

0

0

0

Total Supply

15,085

15,085

16,253

16,018

17,100

16,790

MY Exports

107

107

110

100

110

100

MY Exp. to EU

0

0

0

0

0

0

Industrial Dom. Cons.

0

0

0

0

0

0

Food Use Dom. Cons.

14,200

14,200

15,450

15,168

16,200

15,800

Feed Waste Dom. Cons.

0

0

0

0

0

0

Total Dom. Cons.

14,200

14,200

15,450

15,168

16,200

15,800

Ending Stocks

778

778

693

750

790

890

Total Distribution

15,085

15,085

16,253

16,018

17,100

16,790

CY Imports

818

818

820

650

820

700

CY Imp. from U.S.

150

0

100

30

100

30

CY Exports

104

104

110

100

110

100

CY Exp. to U.S.

0

0

0

0

0

0

Rapeseed Oil

PSD Table

Country

China, Peoples Republic of

Commodity

Oil, Rapeseed (1000 tons)

2014/15

2015/16

2016/17

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

Market Year Begin

10/2014

10/2015

10/2016

Crush

18,300

18,300

18,400

18,100

16,800

16,800

Extr. Rate, 999.9999

0.39

0.39

0.39

0.39

0.39

0.39

Beginning Stocks

4,051

4,051

4,164

4,164

4,235

4,238

Production

7,137

7,137

7,176

7,059

6,552

6,552

MY Imports

732

732

850

800

750

700

MY Imp. from U.S.

0

0

0

0

0

0

MY Imp. from EU

0

107

0

110

0

100

Total Supply

11,920

11,920

12,190

12,023

11,537

11,490

MY Exports

6

6

5

6

5

5

MY Exp. to EU

0

0

0

0

0

0

Industrial Dom. Cons.

0

0

0

0

0

0

Food Use Dom. Cons.

7,750

7,750

7,950

7,779

8,150

8,061

Feed Waste Dom. Cons.

0

0

0

0

0

0

Total Dom. Cons.

7,750

7,750

7,950

7,779

8,150

8,061

Ending Stocks

4,164

4,164

4,235

4,238

3,382

3,424

Total Distribution

11,920

11,920

12,190

12,023

11,537

11,490

CY Imports

815

815

830

800

750

750

CY Imp. from U.S.

0

0

0

0

0

0

CY Exports

5

5

5

5

5

5

CY Exp. to U.S.

0

0

0

0

0

0

Peanut Oil

PSD Table

Country

China, Peoples Republic of

Commodity

Oil, Peanut (1000 tons)

2014/15

2015/16

2016/17

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

Market Year Begin

10/2014

10/2015

10/2016

Crush

8,394

8,394

8,600

8,750

8,900

9,080

Extr. Rate, 999.9999

0.3138

0.3138

0.3138

0.3109

0.3138

0.3139

Beginning Stocks

0

0

0

0

0

0

Production

2,634

2,634

2,699

2,720

2,793

2,850

MY Imports

141

141

150

140

150

140

MY Imp. from U.S.

0

0

0

0

0

0

MY Imp. from EU

0

0

0

0

0

0

Total Supply

2,775

2,775

2,849

2,860

2,943

2,990

MY Exports

8

8

10

7

6

6

MY Exp. to EU

0

0

0

0

0

0

Industrial Dom. Cons.

0

0

0

0

0

0

Food Use Dom. Cons.

2,767

2,767

2,839

2,853

2,937

2,984

Feed Waste Dom. Cons.

0

0

0

0

0

0

Total Dom. Cons.

2,767

2,767

2,839

2,853

2,937

2,984

Ending Stocks

0

0

0

0

0

0

Total Distribution

2,775

2,775

2,849

2,860

2,943

2,990

CY Imports

128

128

150

150

150

150

CY Imp. from U.S.

0

0

0

0

0

0

CY Exports

8

8

7

7

6

6

CY Exp. to U.S.

0

0

0

0

0

0

Palm Oil

PSD Table

Country

China, Peoples Republic of

Commodity

Oil, Palm (1000 tons)

2014/15

2014/16

2016/17

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

Market Year Begin

10/2014

10/2015

10/2016

Area Planted

0

0

0

0

0

0

Area Harvested

0

0

0

0

0

0

Trees

0

0

0

0

0

0

Beginning Stocks

310

310

255

255

205

104

Production

0

0

0

0

0

0

MY Imports

5,696

5,696

5,500

5,200

5,650

5,300

MY Imp. from U.S.

0

0

0

0

0

0

MY Imp. from EU

0

0

0

0

0

0

Total Supply

6,006

6,006

5,755

5,455

5,855

5,404

MY Exports

1

1

0

1

0

2

MY Exp. to EU

0

0

0

0

0

0

Industrial Dom. Cons.

1,950

1,950

2,050

2,050

2,100

2,100

Food Use Dom. Cons.

3,800

3,800

3,500

3,300

3,550

3,200

Feed Waste Dom. Cons.

0

0

0

0

0

0

Total Dom. Cons.

5,750

5,750

5,550

5,350

5,650

5,300

Ending Stocks

255

255

205

104

205

102

Total Distribution

6,006

6,006

5,755

5,455

5,855

5,404

CY Imports

5,910

5,910

5,500

5,250

5,600

5,300

CY Imp. from U.S.

0

0

0

0

0

0

CY Exports

2

2

0

1

0

2

CY Exp. to U.S.

0

0

0

0

0

0

Sunflower Oil Seed

PSD Table

Country

China, Peoples Republic of

Commodity

Oil, Sunflower Seed (1000 tons)

2014/15

2015/16

2016/17

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

USDA

Official

Post Estimate New

Market Year Begin

10/2014

10/2015

10/2016

Crush

1,300

1,300

1,300

1,294

1,320

1,322

Extr. Rate, 999.9999

0.3585

0.3585

0.3585

0.3594

0.3598

0.3593

Beginning Stocks

0

0

0

0

0

0

Production

466

466

466

465

475

475

MY Imports

534

534

650

720

650

700

MY Imp. from U.S.

0

0

0

0

0

0

MY Imp. from EU

0

0

0

0

0

0

Total Supply

1,000

1,000

1,116

1,185

1,125

1,175

MY Exports

0

2

0

2

0

2

MY Exp. to EU

0

0

0

0

0

0

Industrial Dom. Cons.

0

0

0

0

0

0

Food Use Dom. Cons.

1,000

998

1,116

1,183

1,125

1,173

Feed Waste Dom. Cons.

0

0

0

0

0

0

Total Dom. Cons.

1,000

998

1,116

1,183

1,125

1,173

Ending Stocks

0

0

0

0

0

0

Total Distribution

1,000

1,000

1,116

1,185

1,125

1,175

CY Imports

450

651

650

700

650

700

CY Imp. from U.S.

0

0

0

0

0

0

CY Exports

0

1

0

2

0

2

CY Exp. to U.S.

0

0

0

0

0

0