Highlights:

China's MY16/17 soybean production is forecast to recover to 12.5 million metric tons (MMT) from the 11.6 MMT in the previous year, compared to the USDA official data of 11.8 MMT. Conversely, Chinese rapeseed production is expected to fall to 13.5 MMT from the 14.3 MMT in MY15/16. In 2016, China's recovering swine production and the steady growth of its poultry sector encouraged growth in the feed production industry from the 200 MMT in 2015. To meet the feed production industry's growing demand for protein sources, soybean imports are forecast to hit another record at 85 MMT in MY16/17, up from the estimated 82 MMT in MY15/16. This is lower than the official USDA data forecast of 87 MMT for MY16/17 and the 83 MMT estimate for MY15/16. Meanwhile, vegetable oil imports are expected to level off in response to the large crushing capacity for oil seeds coupled with China's release of state rapeseed oil reserves.

Executive Summary:

China's MY16/17 soybean production is forecast to recover to 12.5 million metric tons (MMT) from the 11.6 MMT in the previous year, compared to the USDA official data of 11.8 MMT. Conversely, Chinese rapeseed production is expected to fall to 13.5 MMT from the 14.3 MMT in MY15/16. In 2016, China's recovering swine production and the steady growth of its poultry sector encouraged growth in the feed production industry from the 200 MMT in 2015. To meet the feed production industry's growing demand for protein sources, soybean imports are forecast to hit another record at 85 MMT in MY16/17, up from the estimated 82 MMT in MY15/16. This is lower than the official USDA data forecast of 87 MMT for MY16/17 and the 83 MMT estimate for MY15/16. Meanwhile, vegetable oil imports are expected to level off in response to the large crushing capacity for oil seeds coupled with China's release of state rapeseed oil reserves.

MY16/17 soybean production is forecast to recover to 12.5 MMT

Due to the recent change in the Chinese government's corn policy domestic soybean production is forecast to recover in MY16/17 to12.5 MMT from the estimated 11.6 MMT in MY15/16. Post's data is slightly lower compared to USDA May 2016 official data. This is based on a forecast planted area of 6.9 MHa, up 7.1 percent over the previous year.

In late March, 2016, China's National Development and Reform Commission (NDRC) announced that the temporary corn reserve program in three Northeastern provinces and Inner Mongolia will be replaced by a new “Market-oriented Purchase" mechanism. As of this report, NDRC did not disclose details on how the new policy will operate. This policy change will effectively eliminate the profit advantage for corn over substitute crops such as soybeans. In MY15/16, under the temporary corn reserve program, the Chinese government purchased corn at prices higher than the international market price at RMB 2,000/ton but lower from the peak price of RMB 2,250/ton offered during the previous year. In addition, the government's assurance that the direct subsidy to soybean farmers will continue in MY16/17 --based on a target price of RMB4,800 ($762)/ton)-- is also encouragement for farmers to plant more soybeans.

China's Ministry of Agriculture (MOA) also plans to cut corn acreage by 20 million Mu (1.33 MHa) in MY16/17 to alleviate the burden of the current large state corn stocks. It also plans to promote crop rotations to maintain land fertility and sustainability. In an effort to help farmers with crop rotation (replacing corn with soybeans or forage crops), the central government decided to provide RMB3.25 billion (or about $500 million) as subsidy to farmers in about 100 counties. MOA also set up demonstration farms in Heilongjiang Province to demonstrate the benefits of crop rotation. The reduced corn area is expected to be partly used for soybeans. According to MOA, the plan is expected to increase the soybean planted area by 6 million Mu (400,000 Ha) from the previous year. The rest of the planting area will be replaced by other crops such as forage and pulses.

China National Grain and Oilseed Information Center (CNGOIC) also forecast MY16/17 corn acreage to fall by about 1 MHa from the previous year, while the soybean area is forecast to expand to 6.95 MHa from the 6.45 MHa in MY15/16. CNGOIC reported that the soybean area in Liaoning Province recovered in MY16/17, up by 4.8 percent over the previous year.

In addition, a forecast fall in cotton acreage of 11.5 percent (or about 0.4 MHa) in MY16/17 may also provide more planting area for soybeans, particularly in the Yellow River region. Industry sources also believe that MY16/17 soybean acreage will recover in the traditional soybean-planting regions. In recent years, encouraged by higher profits during the government's temporary corn reserve program, farmers in those regions had switched to planting corn.

Domestic soybean production to reach 18.9 MMT by 2020

In late 2015, MOA released a corn planting guideline instructing farmers to cut corn planting acreage by 50 million Mu (or 3.67 MHa) by year 2020 in the “reaphook"- shaped regions. This refers mostly to the bordering regions between crop farming and ranchers in the Northeastern provinces and the dry and windy regions in the Northwestern provinces. The program covers 13 provinces, with the major adjustment areas located in the four Northeastern provinces.

According to China's 13th “Five Year Development Plan" (2016 to 2020), the government plans to boost domestic soybean production by raising the soybean planting area to 140 million Mu or 9.3 MHa (up by 40 million Mu from 2015) and raise yield to 2,025 Kg/Ha by 2020. As such, total domestic soybean production is expected to reach 18.9 MMT with an average yearly growth of 1.58 MMT. The government intends for the newly added domestic soybeans to be primarily directed towards food use. By 2020, the government also plans to upgrade the quality of domestic soybeans, increase the protein content by 2 percent, and oil content by 1 percent from the current level. It will be interesting to observe how the government's soybean development plan is implemented in the coming years given the current difficulty in increasing soybean productivity. If these targets are reached, China's soybean import growth rate is likely to be moderately impacted during these years.

MY16/17 soybean imports forecast at 85 MMT

Based on a forecast of steady growth in protein meal consumption, Post's MY16/17 soybean imports forecast is 85 MMT. This is lower than the USDA May 2016 official forecast of 87 MMT. During the first seven months of MY15/16, soybean imports remained robust, up by 5.9 MMT or 15 percent over the same period of the previous year, with a total import volume of 45.5 MMT. Post's MY15/16 estimate for soybean imports of 82 MMT is a 4.7 percent increase from the 78.35 MMT in MY14/15, but 1 MMT lower than USDA's May 2016 official data. Despite a slight upward adjustment to the MY15/16 and MY16/17 domestic soybean production, China's recovering swine production and the increasing use of industry feed in scale farming continue to boost protein meal demand. However, these trends only support a net growth of about 3 MMT in soybean imports during MY16/17. In addition, the government's decision to release soybean reserves sometime in 2016, could slightly impact import growth in MY15/16.

Pork prices and the price ratio between grain and hog hit a record high in mid-April and then climbed higher to11.2:1 in mid-May. According to an independent industry source, this contributed to historical profit margins for swine farmers which range from RMB1,000 ($154) to 1,500 ($230)/head. Farmers are actively increasing swine inventory, up 0.6 percent in April from the previous month and sow inventory up 0.3 percent. For instance, in Sichuan Province despite the high price for piglets, total swine inventory increased by 2.3 percent by the end of April over the previous month. Most officials and industry leaders believe the current high pork price/profit is compensation to the sector which losses in the past few years. The growing trend in the swine sector is expected to continue for the rest of 2016 as the current sow inventory is still below the level of the past five years.

Similarly, despite reports of a slight delay in production due to rainy and low temperature during the first months of 2016, aquaculture farms are adding fish fries swiftly to catch up with the production cycle. China's cultured aquatic production is expected to grow steadily in 2016. Total cultured aquatic production reached 49.4 MMT in 2015, up 4.1 percent over the previous year.

Poultry meat production was estimated at 18.26 MMT in 2015, an increase of 4.3 percent year on year.

In response to low profit margins due to excessive supply, China's white feather broiler sector adjusted by reducing production capacity in 2015. As a result, the profit margins for white feather broiler improved in first months of 2016 and stable growth is expected to continue. The profit margins for the yellow feather broiler continued to be good in 2016. Egg production experienced a 3.6 percent growth in 2015 and this growing trend continued in the first months of 2016.

MOA estimates that total industry feed production was 200.1 MMT in 2015, up from the 197.3 MMT in 2014, and up 23.5 percent compared 2010. A significant change in feed production is that the production of concentrated feed fell sharply by 25.9 percent to 19.61 MMT in 2015, compared to 26.48 MMT in 2010. This reflects advancement in scale animal farming and its demand for more compound feed. MOA data shows that in 2015 the poultry sector use of industry feed exceeded 90 percent and the swine sector exceeded 75 percent. However, MOA forecasts that protein meal consumption growth will level off in the next five years with the annual growth of protein meal demand of 1 to 1.25 MMT. This is about half of the growth in the 12th “Five Year Development Plan" (2011-2015).

China's declining production of rapeseed meal and cottonseed meal since MY14/15 continues to boost the use of substitutes, primarily soybean meal. In MY15/16 and MY16/17, the expectation that rapeseed production is overestimated, and the forecast decline in cotton seed production will likely encourage soybean meal consumption.

China's strengthened restrictions in using imported biotech soybeans for food processing rather than crushing is expected to moderately impact import growth rate for soybeans in MY16/17 and beyond. The government's decision to sell aged soybean reserves during 2016 may only satisfy a small part of the food processing demand.

MY16/17 rapeseed production expected fall

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

In recent years China's information sources vary significantly in their estimates of rapeseed production. Production estimates for MY15/16 range from the highest at about 14.85 MMT by CNGOIC (data likely based on the National Statistics Bureau - NSB) to as low as 8 MMT by an independent source. CNGOIC's forecast for MY16/17 production is 14 MMT and is based on a 5.3 percent fall in planted area to 7.1 MHa. Based on CNGOIC, the combined MY16/17 rapeseed acreage in the middle Yangtze River region (Hubei, Hunan, Anhui, Jiangsu and Zhejiang) declined by 10.6 to 3.18 MHa. This resulted in a 10.4 percent drop in production to 6.43 MMT. However, production in Sichuan, Qinghai, Gansu and Xinjiang is expected to increase based on a 9 percent increase in planted area. In particular, Sichuan production is projected to rise 10.7 percent over MY15/16 and become the largest rapeseed producing province. This increase is mainly driven by local consumer preference for rapeseed oil.

Most industry sources believe rapeseed production declined in recent years although the NSB data continues to show a stable to growing trend. Rapeseed is planted in winter idle land along the Yangtze River region with little competition from other crops (except wheat in some districts). Chinese official sources showed constant negative earnings for rapeseed farming from MY12/13 to MY14/15. In MY 15/16, the government's cancellation of the “minimum price purchase" program for rapeseed further reduced rapeseed earnings and greatly discouraged commercial rapeseed farming. Rapeseed is increasingly planted for home or neighborhood use (for oil). In addition, some consumers' preference for rapeseed oil for local cuisine stimulated a recovery of small traditional crushers to produce rapeseed oil. Currently, official sources in Hubei, the largest rapeseed-producing province, show rapeseed production at 2.39 MMT in MY16/17, down 6.5 percent from the previous year. Many farmers in Hubei and Hunan provinces expressed that as farmers get older and stay in the village most opt to plant rapeseeds as there are limited part-time job opportunities. Rapeseed farming will continue in China but increasing production will be difficult in the near term given the current small scale farming and low productivity. The high purchase rate during government's sales of rapeseed oil reserves may reflect the Chinese industry's anticipation of a low MY16/17 rapeseed production.

In addition, the yield and quality of the MY16/17 rapeseed crop has been impacted by abnormally cold weather and excessive rainfall in some districts. Harvest of MY16/17 crop started in May and the current rapeseed price is reportedly 10 percent higher than the previous year most likely due to anticipated lower supply.

Rapeseed imports face uncertainty

Based on a declining domestic rapeseed production, Post's forecast for MY16/17 rapeseed imports are 4.3 MMT, slightly up from the estimated 4.2 MMT in MY15/16, and compared to USDA official forecast of 3.8 MMT. In April 2016, Chinese regulators instructed traders to reduce the foreign matter content (FM) in imported rapeseed to 1 percent from the normal 2.5 percent. Due to exporters' difficulties in meeting this requirement, a tentative agreement on this issue was reportedly reached between China and its largest supplier to maintain trade till September 2016. Industry sources indicate that the lower FM requirement can be met if importers pay a premium. Thus, uncertainty in rapeseed imports will likely remain during MY16/17. In general, China's rapeseed imports will continue to grow due to the shrinking domestic production.

MY16/17 peanut production continues to rise

MY16/17 peanut production is expected to grow to 17 MMT given its comparatively stable profits and also in response to the government's reduced support to corn production. This production forecast is 500,000 tons above the estimated MY15/16 production and slightly higher than USDA's May 2016 official data of 16.9 MMT. Many farmers in corn-producing provinces such as Shandong, Henan, Hebei and Liaoning expressed intention to diversify their crop mix in MY16/17 and peanuts was listed

as one of the options. CNGOIC forecasts that MY16/17 peanut area will grow by 5.4 percent to 4.85 MHa, with a 10 percent rise in Hebei and Liaoning provinces. The peanut planting area is also expected to increase in the top-two peanut-producing provinces, Shandong and Henan. For example, local agricultural agencies in Shandong are promoting inter-cropping patterns “2 rows corn +4 rows peanuts" to add farmer's output value from their limited land. Another reason for farmers in Henan and Shandong provinces to switch some of their acreage from corn to peanuts is that benefits received from the temporary corn reserve program end in MY16/17. MOA indicated that an estimated 15 MMT of corn was transferred from these provinces to the Northeastern provinces and purchased by the government at the high price offered under this program in MY15/16.

Release of state oilseed product reserves

-Rapeseed Oil Reserve

In recent years, China's state rapeseed oil reserve volume remains unknown and difficult to estimate. However, as these oils age, the government began to sell some of the oils at a relatively low price. The following table is based on a recent CNGOIC report showing the history of rapeseed oil reserves which is mainly defined as “Tentative Purchased Rapeseed Oil" built up during MY11/12 through MY13/14 when the government enforced a ““minimum price purchase" policy. As of the end of June 2015, the total tentative rapeseed oil reserve was about 5.9 MMT.

A new rotation plan (stock reserve sales) took place since late December 2015 with about 23 auctions held nationwide. CNGOIC reported that, as of May 26, 2016, the purchase rate remained above 90 percent with 2.17 MMT sold. Due to their relative good quality, the MY11/12 stocks constitute the majority of the total amount sold at 1.27 MMT or 62 percent. Traders also purchased about 0.68 MMT of MY12/13 stocks and 0.21 MMT of MY10/11 stocks. As a result, the current total state rapeseed oil stocks dropped down to about 4.2 MMT.

The current sale of reserves is in response to the central government's call for reducing stocks and the fact that some oils are too old to keep. It is expected that the government will maintain a certain volume of rapeseed oil as “strategic oil reserve" given China's large vegetable oil consumption and the government and consumer's sensitivity to price fluctuations. However, what is considered to be reasonable or safe volume remains unclear. The actual reserve data is not officially published. The sale of these reserves, however, seems to be open through auctions. The auctions remain active as the price is market-oriented (usually lower than RMB6,000/ton or $923/ton) and is much lower than the cost of these oils (ranging from RMB8,000 to 10,000/ton or $1,230 to $1,538/ton). Most recent news sources speculated that the government may adjust the reserve sales policy in terms of auction price or volume; it may even suspend the auctions depending on the trends in the domestic vegetable oil market.

Sales of state soybean reserves to begin on June 1

According to China's State Grain Administration (SGA), the selling of state tentative soybean reserves will begin on June 1, 2016 with total of 300,000 tons to be auctioned. China's soybean reserve volume is not officially published. The current sale is also in response to the central government's plan to cut soybean stocks. It remains unclear how much soybean reserves will be sold and what the basic auction price will be. Generally, domestic soybeans are used mostly for food processing.

-Soybean Oil Reserves

CNGOIC also estimates that there is about 2 MMT of state soybean oil reserves which has not changed for years. Given that the volume of the soybean oil reserve remains stable and is likely to be rotated internally, its impact on the market is expected to be limited. China's industry sources, however, estimate higher government soybean oil stocks at about 3 MMT as “strategic reserve" which was built since MY10/11 and rotate internally to keep the quality. Based on reported sales of rapeseed oil, Post favors the CNGOIC estimate for state soybean oil reserves.

In consideration of China's large and growing consumption of vegetable oils, it is widely believed the government will maintain a “reasonable vegetable oil reserve" to regulate domestic supply and price. In the short term, the sale of these oils reserves is expected to add pressure to oilseed imports particularly rapeseed product imports. In the long term, the government's intent to keep a “reasonable" state vegetable oil reserve means “vegetable oil rotation." In other words, buying or selling vegetable oil reserves when the government deems it is necessary. This is expected to interrupt vegetable oil trade.

Vegetable oil imports level off in MY16/17

China's vegetable oil consumption will continue to grow in MY15/16 and MY16/17, although the growth rate will level off in response to slower GDP growth and China's aging population. Post's forecast MY16/17 rapeseed oil imports are 0.8 MMT, unchanged from the previous year, while MY16/17 soybean oil imports are slightly lower at 0.7 MMT from the estimated 0.8 MMT in MY15/16. Forecast MY16/17 palm oil imports are 5.7 MMT, slightly higher than the 5.6 MMT in MY15/16.

Due to a large crushing capacity, China continues to prefer oilseed imports for crushing to meet domestic demands for oils and meals. Industry sources estimate that more than 60 percent of the recently released state rapeseed oil reserve (more than 2 MMT) remains in state warehouses and will take time to be refined and reach consumers. This will have impact on vegetable oil imports for the rest of MY15/16.

Oilseeds PSD Tables

Soybeans

PSD Table

Country

China, Peoples Republic of

Commodity

Oilseed, Soybean (1000 tons; 1000 Ha)

2014/15

2015/16

2016/17

Post

Post

Post

USDA

Estimate

USDA

Estimate

USDA

Estimate

Official

New

Official

New

Official

New

Market Year Begin

10/2014

10/2015

10/2016

Area Planted

7700

6800

6600

6440

6200

6900

Area Harvested

6800

6800

6500

6440

6800

6900

Beginning Stocks

13877

13877

17034

17034

16434

15984

Production

12150

12150

11800

11600

12200

12500

MY Imports

78350

78350

83000

82000

87000

85000

MY Imp. from U.S.

29697

29697

28500

30000

30000

30000

MY Imp. from EU

0

0

0

0

0

0

Total Supply

104377

104377

111834

110634

115634

113484

MY Exports

143

143

150

150

150

150

MY Exp. to EU

10

10

10

10

10

10

Crush

74500

74500

81800

81000

87000

85000

Food Use Dom. Cons.

10200

10200

10650

10700

10800

11000

Feed Waste Dom. Cons.

2500

2500

2800

2800

3000

3000

Total Dom. Cons.

87200

87200

95250

94500

100800

99000

Ending Stocks

17034

17034

16434

15984

14684

14334

Total Distribution

104377

104377

111834

110634

115634

113484

CY Imports

81740

81740

83500

82000

89000

84000

CY Imp. from U.S.

28000

28413

29000

29000

30000

30000

CY Exports

133

133

150

160

150

140

CY Exp. to U.S.

70

70

70

50

70

45

PSD Table Rapeseed

Country

China, Peoples Republic of

Commodity

Oilseed, Rapeseed (1000 tons;1000 Ha)

Post

Post

Post

USDA

Estimate

USDA

Estimate

USDA

Estimate

Official

New

Official

New

Official

New

Market Year Begin

10/2014

10/2015

10/2016

Area Planted

0

7588

0

7300

0

7000

Area Harvested

7588

7588

7300

7300

7000

7000

Beginning Stocks

1036

1036

1499

1499

999

999

Production

14772

14772

14300

14300

13300

13500

MY Imports

4591

4591

4150

4200

3800

4300

MY Imp. from U.S.

0

0

0

0

0

0

MY Imp. from EU

0

0

0

0

0

0

Total Supply

20399

20399

19949

19999

18099

18799

MY Exports

0

0

0

0

0

0

MY Exp. to EU

0

0

0

0

0

0

Crush

18300

18300

18350

18400

16800

17500

Food Use Dom. Cons.

0

0

0

0

0

0

Feed Waste Dom. Cons.

600

600

600

600

600

600

Total Dom. Cons.

18900

18900

18950

19000

17400

18100

Ending Stocks

1499

1499

999

999

699

699

Total Distribution

20399

20399

19949

19999

18099

18799

CY Imports

4470

4470

4200

4200

3800

4250

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

PSD Table Oilseed, Peanut

Country

China, Peoples Republic of

Commodity

Oilseed, Peanut (1000 tons; 1000 Ha)

2014/15

2015/16

2016/1

Peanuts

Post

Post

Post

USDA

Estimate

USDA

Estimate

USDA

Estimate

Official

New

Official

New

Official

New

Market Year Begin

10/2014

10/2015

10/2016

Area Planted

4604

4604

4600

4600

4650

4750

Area Harvested

4604

4604

4600

4600

4700

4750

Beginning Stocks

0

0

0

0

0

0

Production

16482

16482

16700

16500

16900

17000

MY Imports

161

161

180

180

200

170

MY Imp. from U.S.

0

21

0

21

0

25

MY Imp. from EU

0

0

0

0

0

0

Total Supply

16643

16643

16880

16680

17100

17170

MY Exports

502

502

500

500

500

550

MY Exp. to EU

37

37

50

50

50

50

Crush

8394

8394

8690

8510

8800

8910

Food Use Dom. Cons.

6650

6650

6690

6670

6730

6690

Feed Waste Dom. Cons.

1097

1097

1000

1000

1070

1020

Total Dom. Cons.

16141

16141

16380

16180

16600

16620

Ending Stocks

0

0

0

0

0

0

Total Distribution

16643

16643

16880

16680

17100

17170

CY Imports

165

175

180

0

200

165

CY Imp. from U.S.

0

12

0

0

0

15

CY Exports

511

509

500

0

500

510

CY Exp. to U.S.

0

0

0

0

0

0


Meal PSD Tables

Soybean Meal

Country

China, Peoples Republic of

Commodity

USDA

Estimate

USDA

Estimate

USDA

Estimate

Official

New

Official

New

Official

New

Market Year Begin

10/2014

10/2015

10/2016

Crush

74500

74500

81800

81000

87000

85000

Extr. Rate, 999.9999

0.7921

0.7921

0.792

0.792

0.792

0.7935

Beginning Stocks

0

0

0

0

0

0

Production

59008

59008

64782

64150

68900

67450

MY Imports

58

58

30

20

30

20

MY Imp. from U.S.

0

1

0

0

0

0

MY Imp. from EU

0

0

0

0

0

0

Total Supply

59066

59066

64812

64170

68930

67470

MY Exports

1595

1577

1850

1800

1850

1850

MY Exp. to EU

60

60

30

70

30

70

Industrial Dom. Cons.

980

980

1000

1000

1020

1050

Food Use Dom. Cons.

0

0

0

0

0

0

Feed Waste Dom. Cons.

56491

56509

61962

61370

66060

64570

Total Dom. Cons.

57471

57489

62962

62370

67080

65620

Ending Stocks

0

0

0

0

0

0

Total Distribution

59066

59066

64812

64170

68930

67470

CY Imports

60

60

30

20

30

20

CY Imp. from U.S.

0

0

0

0

0

0

CY Exports

1714

1696

1850

1800

1850

1900

CY Exp. to U.S.

20

20

20

50

0

30

Soybean Oil

Commodity

China, Peoples Republic of

Oil, Soybean (1000 tons)

2014/15

2015/16

2016/17

Post

Post

Post

USDA

Estimate

USDA

Estimate

USDA

Estimate

Official

New

Official

New

Official

New

Market Year Begin

10/2014

10/2015

10/2016

Crush

74500

74500

81800

81000

87000

85000

Extr. Rate, 999.9999

0.1792

0.1792

0.1792

0.1792

0.1792

0.1792

Beginning Stocks

965

965

778

778

693

993

Production

13347

13347

14655

14515

15587

15232

MY Imports

773

773

820

800

820

700

MY Imp. from U.S.

150

0

100

10

100

15

MY Imp. from EU

0

0

0

0

0

0

Total Supply

15085

15085

16253

16093

17100

16925

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.

14200

14200

15450

15000

16200

15450

Feed Waste Dom. Cons.

0

0

0

0

0

0

Total Dom. Cons.

14200

14200

15450

15000

16200

15450

Ending Stocks

778

778

693

993

790

1375

Total Distribution

15085

15085

16253

16093

17100

16925

CY Imports

818

818

820

720

820

700

CY Imp. from U.S.

150

0

100

6

100

5

CY Exports

104

104

110

100

110

100

CY Exp. to U.S.

0

0

0

0

0

0

Rapeseed Oil

Country

China, Peoples Republic of

Commodity

Oil, Rapeseed (1000 tons)

Market Year Begin

10/2014

10/2015

10/2016

Crush

18300

18300

18350

18400

16800

17500

Extr. Rate, 999.9999

0.39

0.39

0.39

0.3902

0.39

0.39

Beginning Stocks

4051

4051

4164

4164

4216

4238

Production

7137

7137

7157

7180

6552

6825

MY Imports

732

732

850

800

750

800

MY Imp. from U.S.

0

0

0

0

0

0

MY Imp. from EU

0

107

0

110

0

100

Total Supply

11920

11920

12171

12144

11518

11863

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.

7750

7750

7950

7900

8150

8050

Feed Waste Dom. Cons.

0

0

0

0

0

0

Total Dom. Cons.

7750

7750

7950

7900

8150

8050

Ending Stocks

4164

4164

4216

4238

3363

3808

Total Distribution

11920

11920

12171

12144

11518

11863

CY Imports

815

815

830

800

750

800

CY Imp. from U.S.

0

0

0

0

0

0

CY Exports

5

5

5

5

5

6

CY Exp. to U.S.

0

0

0

0

0

0


Oil, Peanut

Country

China, Peoples Republic of

Commodity

Oil, Peanut (1000 tons)

Official

New

Official

New

Official

New

Market Year Begin

10/2014

10/2015

10/2016

Crush

8394

8394

8690

8510

8800

8910

Extr. Rate, 999.9999

0.3138

0.3138

0.3138

0.3173

0.3138

0.3109

Beginning Stocks

0

0

0

0

0

0

Production

2634

2634

2727

2700

2761

2770

MY Imports

141

141

150

150

150

150

MY Imp. from U.S.

0

0

0

0

0

0

MY Imp. from EU

0

0

0

0

0

0

Total Supply

2775

2775

2877

2850

2911

2920

MY Exports

8

8

7

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.

2767

2767

2870

2843

2905

2914

Feed Waste Dom. Cons.

0

0

0

0

0

0

Total Dom. Cons.

2767

2767

2870

2843

2905

2914

Ending Stocks

0

0

0

0

0

0

Total Distribution

2775

2775

2877

2850

2911

2920

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

Country

China, Peoples Republic of

Commodity

Oil, Palm (1000 tons)

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

255

204

Production

0

0

0

0

0

0

MY Imports

5696

5696

5600

5600

5750

5700

MY Imp. from U.S.

0

0

0

0

0

0

MY Imp. from EU

0

0

0

0

0

0

Total Supply

6006

6006

5855

5855

6005

5904

MY Exports

1

1

0

1

0

2

MY Exp. to EU

0

0

0

0

0

0

Industrial Dom. Cons.

1950

1950

2050

2050

2100

2100

Food Use Dom. Cons.

3800

3800

3550

3600

3650

3600

Feed Waste Dom. Cons.

0

0

0

0

0

0

Total Dom. Cons.

5750

5750

5600

5650

5750

5700

Ending Stocks

255

255

255

204

255

202

Total Distribution

6006

6006

5855

5855

6005

5904

CY Imports

5910

5910

5600

5600

5700

5650

CY Imp. from U.S.

0

0

0

0

0

0

CY Exports

2

0

0

0

0

0

CY Exp. to U.S.

0

0

0

0

0

0