Weak Real to Boost Brazil s Soybean Exports in 2016

Transcription

1 United States Department of Agriculture Foreign Agricultural Service October 2015 Weak Real to Boost Brazil s Soybean Exports in 2016 Brazil s exchange rate is having a significant impact on domestic and global soybean production and trade. Since early October 2014, the value of the real has declined 37 percent relative to the dollar. The current exchange rate, at roughly 4 reals per dollar, means that Brazilian producers are operating under a different set of price signals than their counterparts in the United States. While U.S. producers have seen the dollar value of soybeans decline 8 percent since last October, Brazilian producers have seen the price in reals rise to near record levels, equivalent to the nearly $15/bu U.S. producers experienced in May The strong soybean price in reals has allowed Brazilian exporters to be more flexible on prices. In addition, this attractive price will encourage further acreage expansion and increased soybean production. In 2016, Brazil s production is forecast to grow nearly 4 million tons over the previous year, while exports are forecast to expand by a similar amount. With limited import growth expected for China, these sales are expected to occur at the expense of U.S. suppliers. U.S. exports are currently forecast at 45.6 million tons in, down 4.6 million tons from last season. For an subscription, click here to register: Approved by the World Agricultural Outlook Board/USDA

2 OVERVIEW Global soybean production is raised this month as a larger forecast for Brazil more than compensates for reductions in India and Ukraine. U.S. production is down as lower area is partly offset by a higher yield. Trade is raised this month due to an increase in Brazil s exportable supplies, more than offsetting reductions in exports by the United States and Ukraine. Global exports remain at a record level. Global stocks are raised, reflecting a larger production and carry-over from last year. The U.S. season-average farm price is unchanged. Global soybean production is raised this month as larger estimates for Brazil and South Africa more than offset reductions for the United States, Paraguay, and India. Exports are raised on larger shipments from Brazil. Ending stocks are reduced in response to growing consumption and trade. SOYBEAN PRICES U.S. export bids, FOB Gulf, in August averaged $360/ton, down $14 from last month, reflecting ample supplies amid the onset of the harvest. As of the week ending October 1, U.S. soybean commitments (outstanding sales plus accumulated exports) to China totaled 9.2 million tons compared to 17.2 million a year ago. Total commitments to the world are 21.9 million tons, compared to 29.7 million for the same period last year. TRADE OUTLOOK United States soybean exports are reduced 1.4 million tons to 45.6 million in response to Brazil s increased supplies and strong competition. Brazil soybean exports are raised 2.0 million tons to 56.5 million reflecting an increase in exportable supplies and growing competitiveness resulting from a devalued real. Canada rapeseed exports are up 400,000 tons to 7.8 million reflecting a larger production forecast and expected increase in sales to China. China rapeseed imports are up 600,000 tons to 3.9 million on greater availability and a lower cottonseed use forecast. Egypt soybean imports are raised 100,000 tons to 2.1 million reflecting growing protein meal demand and expanding crush capacity. European Union o Soybean imports are up 100,000 tons to 13.6 million reflecting growing demand for protein meal.

3 o Sunflowerseed oil imports are raised 100,000 tons to 1.0 million on strong demand for soft oils and larger exportable supplies forecast for Ukraine. India soybean meal exports are down 325,000 tons to 1.7 million on tighter supplies, strong domestic use, and high prices relative to other exporters. Indonesia palm oil exports are raised 200,000 tons to 25.0 million on moderate year-to-year growth in exports. Pakistan soybean meal imports are raised 100,000 tons to 1.0 million on continuing strong demand for protein meal, despite import tariffs. Philippines soybean meal imports are down 250,000 tons to 2.4 million reflecting a slower rate of protein meal growth. Russia soybean imports are raised 100,000 tons to 2.0 million on strong domestic demand for protein meal. Thailand soybean imports are up 150,000 tons to 2.3 million on additional demand from the feed industry. Turkey soybean imports are up 200,000 tons to 2.3 million reflecting growing domestic requirements for protein meal. Ukraine o Sunflowerseed meal and oil exports grow 300,000 tons to 4.0 million each on larger exportable supplies due to an increase in forecast domestic crush. o Soybean exports are down 350,000 tons to 2.0 million reflecting a smaller production forecast. TRADE CHANGES based on trade data United States o Soybean exports are increased 229,000 tons to a record 50.2 million on final trade data. o Soybean meal exports are raised 136,000 tons to a record 12.0 million tons on strong yearto-date trade. Argentina soybean meal exports are down 500,000 tons to 28.0 million on slower end-of-year trade volume. Brazil o Soybean exports are up 1.1 million tons to 51.1 million on final trade data. o Soybean meal exports are reduced 310,000 tons to 14.4 million on final trade data. China palm oil imports are up 100,000 tons to 5.6 million. Egypt soybean imports are boosted 100,000 tons to 2.0 million. European Union o Soybean imports are raised 100,000 tons to 13.6 million. o Soybean meal imports are up 100,000 tons to 19.7 million. o Sunflowerseed meal imports are down 100,000 tons to 3.3 million. o Soybean oil exports are up 100,000 tons to 1.0 million. Indonesia o Palm oil exports are up 500,000 tons to 24.5 million. o Palm kernel meal exports are reduced 100,000 tons to 3.8 million. Malaysia o Palm oil imports are up 150,000 tons to 950,000. o Palm kernel meal exports are raised 100,000 tons to 2.5 million. Pakistan o Soybean meal imports are up 100,000 tons to 1.0 million.

4 o Rapeseed imports are down 100,000 tons to 925,000. Paraguay soybean exports are reduced 225,000 tons to 4.4 million. Philippines soybean meal imports are down 300,000 tons to 2.2 million. Russia sunflowerseed meal exports are reduced 100,000 tons to 1.4 million. Thailand soybean imports are up 150,000 tons to 2.2 million. Ukraine sunflowerseed meal exports are down 200,000 tons to 3.6 million. Questions may be directed to: Bill George (202) Rachel Trego (202) Agata Kingsbury (202) To download the tables in the publication, go to the Production, Supply and Distribution Database (PSD Online): ( scroll down to Reports, and click the plus sign [+] next to Oilseeds. The Foreign Agricultural Service (FAS) updates its production, supply and distribution (PSD) database for cotton, oilseeds, and grains at 12:00 p.m. on the day the World Agricultural Supply and Demand Estimates (WASDE) report is released. This circular is released by 12:15 p.m. FAS Reports and Databases: Current World Markets and Trade and World Agricultural Production Reports: Archives World Markets and Trade and World Agricultural Production Reports: Production, Supply and Distribution Database (PSD Online): Global Agricultural Trade System (U.S. Exports and ): Export Sales Report: Global Agricultural Information Network (Agricultural Attaché Reports): Other USDA Reports: World Agricultural Supply and Demand Estimates (WASDE): Economic Research Service: National Agricultural Statistics Service:

5 List of Tables SUMMARY TABLES Table 01 Major Oilseeds: World Supply and Distribution (Commodity View) Table 02 Major Protein Meals: World Supply and Distribution (Commodity View) Table 03 Major Vegetable Oils: World Supply and Distribution (Commodity View) Table 04 Major Oilseeds: World Supply and Distribution (Country View) Table 05 Major Protein Meals: World Supply and Distribution (Country View) Table 06 Major Vegetable Oils: World Supply and Distribution (Country View) COMMODITY TABLES Table 07 Soybeans: World Supply and Distribution Table 08 Soybean Meal: World Supply and Distribution Table 09 Soybean Oil: World Supply and Distribution Table 10 Soybeans and Products: World Trade Table 11 Palm Oil: World Supply and Distribution Table 12 Rapeseed and Products: World Supply and Distribution Table 13 Sunflowerseed and Products: World Supply and Distribution Table 14 Minor Vegetable Oils: World Supply and Distribution HISTORICAL TABLES Table 15 World Oilseeds and Products Supply and Distribution Table 16 World Soybeans and Products Supply and Distribution Table 17 World Rapeseed and Products Supply and Distribution Table 18 World Sunflowerseed and Products Supply and Distribution Table 19 World Palm Oil, Coconut Oil, and Fish Meal Supply and Distribution COUNTRY TABLES Table 20 United States Oilseeds and Products Supply and Distribution Local Marketing Years Table 21 United States Soybeans and Products Supply and Distribution Local Marketing Years Table 22 Brazil Soybeans and Products Supply and Distribution Local Marketing Years Table 23 Argentina Soybeans and Products Supply and Distribution Local Marketing Years Table 24 South East Asia Oilseeds and Products Supply and Distribution Table 25 Middle East Oilseeds and Products Supply and Distribution Table 26 European Union Oilseeds and Products Supply and Distribution Table 27 China Oilseeds and Products Supply and Distribution Table 28 India Oilseeds and Products Supply and Distribution PRICES Table 29 Table 30 Table 31 Oilseed Prices Protein Meal Prices Vegetable Oil Prices

6 Table 01: Major Oilseeds: World Supply and Distribution (Commodity View) Million Metric Tons 2011/ / /14 Sep Oct Production Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Exports Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Crush Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Ending Stocks Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Totals may not add due to rounding

7 Table 02: Major Protein Meals: World Supply and Distribution (Commodity View) Million Metric Tons 2011/ / /14 Sep Oct Production Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Exports Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Ending Stocks Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Totals may not add due to rounding

8 Table 03: Major Vegetable Oils: World Supply and Distribution (Commodity View) Million Metric Tons 2011/ / /14 Sep Oct Production Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Exports Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Ending Stocks Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Totals may not add due to rounding

9 Table 04: Major Oilseeds: World Supply and Distribution (Country View) Million Metric Tons 2011/ / /14 Sep Oct Production United States Brazil Argentina China India Other Total China European Union Mexico Japan Turkey Indonesia Taiwan Thailand Russia Egypt Other Total Exports Brazil United States Canada Argentina Paraguay Ukraine Uruguay Other Crush Total China United States European Union Argentina Brazil India Russia Ukraine Indonesia Canada Mexico Pakistan Malaysia Japan Paraguay Other Total Ending Stocks Argentina Brazil China United States European Union Other Total Major Oilseeds includes Copra, Cottonseed, Palm Kernel, Peanut, Rapeseed, Soybeans and Sunflowerseeds.

10 Table 05: Major Protein Meals: World Supply and Distribution (Country View) Million Metric Tons 2011/ / /14 Sep Oct Production China United States Argentina Brazil European Union Other Total European Union Vietnam Indonesia United States Korea, South Thailand New Zealand Other Total Exports Argentina Brazil United States Ukraine Indonesia Canada Paraguay Other Total China European Union United States Brazil India Mexico Vietnam Indonesia Russia Thailand Other SME Total China European Union United States Brazil India Mexico Vietnam Other Total Ending Stocks Argentina Brazil Indonesia European Union Malaysia Other Total Major Protein Meals include Copra, Cottonseed, Fish, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflower Meal.

11 Table 06: Major Vegetable Oils: World Supply and Distribution (Country View) Million Metric Tons 2011/ / /14 Sep Oct Production Indonesia China Malaysia European Union United States Argentina Brazil Other Total India European Union China United States Pakistan Egypt Bangladesh Turkey Iran Malaysia Other Total Exports Indonesia Malaysia Argentina Ukraine Canada European Union Russia Other Total China European Union India United States Indonesia Brazil Malaysia Pakistan Russia Argentina Egypt Mexico Thailand Turkey Japan Other Total Ending Stocks Indonesia China Malaysia India United States Other Total Major Vegetable Oils includes Coconut, Cottonseed, Olive, Palm, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflowerseed oil.

12 Table 07: Soybeans: World Supply and Distribution Thousand Metric Tons 2011/ / /14 Sep Oct Production United States 84,291 82,791 91, , , ,806 Brazil 66,500 82,000 86,700 96,200 97, ,000 Argentina 40,100 49,300 53,500 60,800 57,000 57,000 China 14,485 13,050 12,200 12,350 11,500 11,500 India 11,700 12,200 9,500 9,000 11,500 11,000 Paraguay 4,043 8,202 8,190 8,100 8,800 8,800 Canada 4,467 5,086 5,359 6,049 5,950 5,950 Other 14,841 16,195 16,307 19,570 20,761 20,436 Total 240, , , , , ,492 China 59,231 59,865 70,364 77,000 79,000 79,000 European Union 12,070 12,538 12,985 13,550 13,500 13,600 Mexico 3,606 3,409 3,842 4,025 4,050 4,050 Japan 2,759 2,830 2,894 2,950 2,850 2,900 Taiwan 2,285 2,286 2,335 2,380 2,380 2,380 Indonesia 1,922 1,795 2,241 2,075 2,300 2,300 Turkey 1,057 1,249 1,608 2,100 2,100 2,300 Thailand 1,907 1,867 1,798 2,225 2,100 2,250 Egypt 1,649 1,730 1,694 1,980 1,950 2,050 Russia ,931 1,950 1,900 2,000 Other 6,242 7,666 9,592 9,961 11,086 11,086 Total 93,469 95, , , , ,916 Exports Brazil 36,257 41,904 46,829 51,112 54,500 56,450 United States 37,186 36,129 44,574 50,169 46,947 45,586 Argentina 7,368 7,738 7,842 9,600 9,750 9,750 Paraguay 3,574 5,518 4,800 4,375 4,600 4,600 Canada 2,933 3,470 3,470 3,850 3,825 3,850 Other 4,869 6,053 5,056 6,945 6,858 6,533 Crush Total 92, , , , , ,769 China 60,970 64,950 68,850 74,200 79,500 79,500 United States 46,348 45,967 47,192 51,029 50,893 51,165 Argentina 35,886 33,611 36,173 40,000 41,500 41,500 Brazil 38,083 35,235 36,861 39,500 39,550 39,550 European Union 12,414 13,162 13,436 14,000 14,500 14,700 India 9,650 9,900 8,300 7,100 9,100 8,700 Mexico 3,675 3,650 4,030 4,275 4,350 4,350 Paraguay 900 2,950 3,350 3,650 4,100 4,100 Russia 2,300 2,400 3,300 3,850 3,950 4,100 Bolivia 2,000 2,175 2,250 2,300 2,420 2,450 Egypt 1,620 1,710 1,680 1,950 1,950 2,050 Japan 1,960 1,915 1,969 2,120 1,970 2,020 Taiwan 2,020 1,920 1,925 1,970 2,000 2,000 Thailand 1,750 1,500 1,500 1,750 1,700 1,825 Canada 1,411 1,550 1,537 1,700 1,700 1,700 Other 7,386 7,572 8,728 11,145 12,605 12,680 Total 228, , , , , ,390 Ending Stocks Argentina 15,949 20,962 26,050 32,250 33,427 32,902 Brazil 13,024 15,330 15,945 18,708 18,150 19,738 China 15,909 12,378 14,427 17,552 16,152 16,152 United States 4,610 3,825 2,504 5,210 12,258 11,556 India 800 1, Other 3,613 2,537 3,240 3,794 4,158 4,213 Total 53,905 56,167 62,772 77,972 84,978 85,144 Most countries are on an October/September Marketing Year (MY). The United States, Mexico, and Thailand are on a September/August MY. Canada is on an August/July MY. Paraguay is on a March/February MY.

13 Table 08: Soybean Meal: World Supply and Distribution Thousand Metric Tons 2011/ / /14 Sep Oct Production China 48,288 51,440 54,531 58,770 62,960 62,960 United States 37,217 36,174 36,909 41,023 40,302 40,483 Argentina 27,945 26,089 27,892 30,790 32,180 32,180 Brazil 29,510 27,310 28,540 30,580 30,610 30,610 European Union 9,668 10,398 10,614 11,060 11,455 11,615 India 7,720 7,920 6,640 5,680 7,280 6,960 Mexico 2,910 2,890 3,185 3,380 3,435 3,435 Other 17,219 19,064 21,061 24,401 25,994 26,384 Total 180, , , , , ,627 European Union 20,872 16,941 18,175 19,650 20,300 20,300 Indonesia 3,278 3,367 3,983 4,175 4,700 4,700 Vietnam 2,276 2,980 3,342 4,200 4,600 4,600 Thailand 2,928 2,874 2,665 3,000 3,050 3,050 Philippines 1,833 1,969 2,337 2,200 2,650 2,400 Iran 2,192 2,099 2,683 2,150 2,100 2,100 Japan 2,282 1,765 1,976 1,700 1,850 1,850 Mexico 1,548 1,295 1,510 1,690 1,850 1,850 Korea, South 1,571 1,654 1,825 1,735 1,700 1,700 Algeria 892 1,333 1,383 1,425 1,525 1,525 Other 17,306 17,551 17,978 19,254 19,812 19,907 Total 56,978 53,828 57,857 61,179 64,137 63,982 Exports Argentina 26,043 23,667 24,972 28,000 30,200 30,200 Brazil 14,678 13,242 13,948 14,390 15,200 15,200 United States 8,845 10,111 10,474 11,975 10,569 10,569 Paraguay 523 2,149 2,504 2,550 2,980 2,980 India 4,391 4,354 2,742 1,100 2,025 1,700 Other 3,794 4,383 5,387 5,256 5,259 5,194 Total 58,274 57,906 60,027 63,271 66,233 65,843 China 47,435 50,091 52,534 57,130 61,380 61,380 European Union 29,670 27,122 28,442 30,242 31,392 31,492 United States 28,614 26,308 26,804 29,302 30,028 30,209 Brazil 14,100 14,200 14,650 15,250 15,400 15,400 Vietnam 3,300 3,700 4,200 5,100 5,650 5,650 India 3,280 3,490 4,050 4,685 5,255 5,220 Mexico 4,370 4,250 4,675 5,010 5,200 5,200 Indonesia 3,218 3,430 3,900 4,225 4,700 4,650 Thailand 4,153 4,152 3,980 4,280 4,380 4,510 Russia 2,350 2,400 2,600 2,880 3,225 3,380 Japan 3,840 3,332 3,376 3,326 3,330 3,358 Iran 2,500 2,460 2,948 3,050 3,120 3,120 Egypt 2,100 2,220 2,400 2,600 2,700 2,780 Argentina 1,450 1,850 2,100 2,300 2,500 2,500 Philippines 1,950 2,050 2,200 2,350 2,800 2,500 Other 25,614 26,439 27,448 30,036 31,644 31,821 Total 177, , , , , ,170 Ending Stocks Brazil 3,198 3,098 3,065 4,025 3,675 4,055 Argentina 2,681 3,253 4,073 4,563 3,620 4,043 Indonesia European Union United States Other 2,705 2,355 2,352 2,625 2,829 2,638 Total 9,685 9,398 10,293 12,119 11,083 11,715 Most countries are on an October/September Marketing Year (MY). The Mexico and Thailand are on a September/August MY. Canada is on an August/July MY. Paraguay is on a March/February MY. Vietnam and the Philippines are on a January/December MY and Bolivia is on a March/February MY.

14 Table 09: Soybean Oil: World Supply and Distribution Thousand Metric Tons 2011/ / /14 Sep Oct Production China 10,914 11,626 12,335 13,280 14,230 14,230 United States 8,954 8,990 9,131 9,720 9,804 9,859 Argentina 6,839 6,364 6,785 7,630 7,860 7,860 Brazil 7,310 6,760 7,070 7,580 7,590 7,590 European Union 2,359 2,501 2,553 2,660 2,755 2,795 India 1,708 1,752 1,478 1,255 1,630 1,540 Paraguay Other 4,485 4,537 4,991 5,747 6,045 6,139 Total 42,741 43,094 44,983 48,569 50,697 50,796 India 1,174 1,086 1,830 2,650 2,800 2,850 China 1,502 1,409 1, Algeria Bangladesh Morocco Iran Venezuela Egypt Peru Colombia Other 2,630 2,842 2,844 3,009 2,885 2,957 Total 7,958 8,493 9,350 10,102 10,245 10,367 Exports Argentina 3,794 4,244 4,087 4,925 5,200 5,200 Brazil 1,885 1,251 1,378 1,520 1,390 1,390 European Union 742 1, , United States Paraguay Russia Bolivia Other ,003 1,067 1,146 1,131 Total 8,465 9,360 9,387 10,842 11,018 11,078 China 12,044 12,545 13,657 14,193 15,237 15,237 United States 8,306 8,476 8,599 8,709 8,891 8,868 Brazil 5,390 5,534 5,705 6,205 6,230 6,275 India 2,750 2,950 3,300 3,900 4,450 4,400 Argentina 3,020 2,275 2,729 2,651 2,660 2,660 European Union 2,109 1,908 1,970 2,000 2,070 2,000 Mexico ,001 1,010 1,010 Iran Egypt Bangladesh Algeria Venezuela Morocco Korea, South Colombia Other 4,211 4,289 4,503 4,786 4,939 5,040 Total 42,193 42,600 45,284 47,811 49,978 50,001 Ending Stocks United States 1, China 615 1, Argentina European Union India Other 1,380 1,250 1,097 1,018 1,122 1,053 Total 4,125 3,752 3,414 3,432 3,458 3,516 Most countries are on an October/September Marketing Year (MY). Mexico is on a September/August MY. Peru is on an January/December MY and Paraguay and Bolivia are on a March/February MY.

15 Table 10: Soybeans and Products: World Trade Thousand Metric Tons Meal, Soybean Oil, Soybean Oilseed, Soybean Marketing Year 2013/ / /14 Exports North America 10,734 12,245 10, ,044 1,021 48,044 54,019 49,436 Canada (Aug-Jul) ,470 3,850 3,850 United States (Sep-Aug) 10,474 11,975 10, ,574 50,169 45,586 South America 42,954 46,440 49,930 6,432 7,427 7,647 62,711 68,596 74,359 Argentina (Oct-Sep) 24,972 28,000 30,200 4,087 4,925 5,200 7,842 9,600 9,750 Brazil (Oct-Sep) 13,948 14,390 15,200 1,378 1,520 1,390 46,829 51,112 56,450 Paraguay (Mar-Feb) 2,504 2,550 2, ,800 4,375 4,600 South Asia 2,748 1,107 1, India (Oct-Sep) 2,742 1,100 1, Other 3,591 3,479 3,357 2,007 2,371 2,410 1,633 3,186 2,674 World Total 60,027 63,271 65,843 9,387 10,842 11, , , ,769 European Union (Oct-Sep) 18,175 19,650 20, ,985 13,550 13,600 East Asia 3,884 3,595 3,655 1,772 1,312 1,405 76,866 83,545 85,605 China (Oct-Sep) , ,364 77,000 79,000 Japan (Oct-Sep) 1,976 1,700 1, ,894 2,950 2,900 Korea, South (Oct-Sep) 1,825 1,735 1, ,271 1,200 1,300 Taiwan (Oct-Sep) ,335 2,380 2,380 Southeast Asia 13,743 15,046 16, ,150 6,560 6,920 Indonesia (Oct-Sep) 3,983 4,175 4, ,241 2,075 2,300 Malaysia (Oct-Sep) 1,397 1,450 1, Philippines (Jan-Dec) 2,337 2,200 2, Thailand (Sep-Aug) 2,665 3,000 3, ,798 2,225 2,250 Vietnam (Jan-Dec) 3,342 4,200 4, ,415 1,500 1,600 North America 2,839 2,964 3, ,134 5,269 5,216 Canada (Aug-Jul) , Mexico (Sep-Aug) 1,510 1,690 1, ,842 4,025 4,050 South America 4,651 5,055 5,220 1,293 1,410 1,431 1,614 1,549 1,649 Brazil (Oct-Sep) Colombia (Oct-Sep) 1,036 1,150 1, Central America 948 1,017 1, Caribbean 837 1,080 1, Middle East 5,295 4,787 4, ,257 3,425 3,845 Iran (Oct-Sep) 2,683 2,150 2, ,150 Israel (Oct-Sep) Syria (May-Apr) Turkey (Oct-Sep) ,608 2,100 2,300 North Africa 3,245 3,305 3,517 1,404 1,605 1,625 1,828 2,130 2,200 Egypt (Oct-Sep) 1,116 1,050 1, ,694 1,980 2,050 Other 4,240 4,680 4,753 2,863 3,769 3,995 3,033 3,698 4,373 World Total 57,857 61,179 63,982 9,350 10,102 10, , , ,916

16 Table 11: Palm Oil: World Supply and Distribution Thousand Metric Tons 2011/ / /14 Sep Oct Production Indonesia 26,200 28,500 30,500 33,000 35,000 35,000 Malaysia 18,202 19,321 20,161 19,800 21,000 21,000 Thailand 1,892 2,135 2,000 1,800 2,200 2,200 Colombia ,041 1,110 1,100 1,130 Nigeria Other 4,373 4,522 4,717 4,775 4,895 4,895 Total 52,582 56,422 59,389 61,455 65,165 65,195 India 7,473 8,364 7,820 9,350 9,850 9,850 European Union 5,707 6,798 6,902 6,800 6,950 6,950 China 5,841 6,589 5,573 5,550 5,750 5,750 Pakistan 2,218 2,246 2,758 2,700 2,950 2,950 Egypt 1, ,153 1,550 1,550 1,600 Bangladesh 984 1,030 1,262 1,350 1,450 1,450 United States 1,032 1,293 1,220 1,122 1,250 1,250 Singapore Turkey Burma Other 12,452 12,716 13,436 14,088 14,013 14,013 Total 38,844 41,818 41,822 44,490 46,113 46,163 Exports Indonesia 18,452 20,373 21,719 24,500 24,800 25,000 Malaysia 17,586 18,524 17,344 17,400 18,100 18,100 Papua New Guinea Benin Guatemala Other 2,720 2,966 2,671 2,574 2,716 2,716 Total 39,844 43,203 43,284 45,904 47,016 47,216 India 7,485 8,250 8,384 9,200 9,950 9,950 Indonesia 7,129 7,852 8,900 7,620 9,520 9,220 European Union 5,523 6,560 6,790 6,700 6,800 6,850 China 5,841 6,389 5,669 5,580 5,750 5,750 Malaysia 2,150 2,451 2,868 3,060 3,370 3,370 Pakistan 2,115 2,285 2,490 2,690 2,945 2,945 Thailand 1,525 1,710 1,880 1,820 2,010 2,010 Nigeria 1,385 1,455 1,470 1,495 1,550 1,550 Egypt 1,265 1,120 1,140 1,460 1,470 1,510 Bangladesh 1,030 1,030 1,190 1,345 1,450 1,450 United States 1,043 1,238 1,207 1,115 1,227 1,227 Colombia , Turkey Ghana Burma Other 11,537 12,155 13,056 13,812 14,400 14,400 Total 50,473 55,151 57,842 58,795 63,802 63,532 Ending Stocks Indonesia 1,445 1,758 1,666 2,546 3,526 3,326 Malaysia 2,481 1,784 2,091 2,381 2,261 2,411 India China Pakistan Other 2,503 2,401 2,544 2,361 2,279 2,106 Total 7,508 7,394 7,479 8,725 9,458 9,335

17 Table 12: Rapeseed and Products: World Supply and Distribution Thousand Metric Tons Meal, Rapeseed Oil, Rapeseed Oilseed, Rapeseed Marketing Year 2013/ / /14 Production China (Oct-Sep) 11,631 11,505 11,150 6,579 6,500 6,300 14,458 14,600 14,100 India (Oct-Sep) 3,720 3,250 3,600 2,400 2,100 2,320 7,300 6,310 7,150 Canada (Aug-Jul) 3,925 4,150 4,050 3,050 3,230 3,150 18,551 16,410 14,300 Japan (Oct-Sep) 1,353 1,360 1,360 1,054 1,075 1, European Union (Jul-Jun) 13,780 14,370 13,513 9,946 10,371 9,753 21,304 24,394 21,550 Other 5,026 5,576 5,256 3,479 3,854 3,640 10,473 10,204 9,126 World Total 39,435 40,211 38,929 26,508 27,130 26,238 72,088 71,920 66,228 China (Oct-Sep) ,046 4,600 3,900 India (Oct-Sep) Canada (Aug-Jul) Japan (Oct-Sep) ,378 2,450 2,450 European Union (Jul-Jun) ,495 2,356 2,200 Other 5,065 5,088 4,979 2,318 2,478 2,513 4,240 4,565 4,307 World Total 5,923 5,697 5,641 3,769 3,863 3,860 15,225 14,036 12,957 Exports China (Oct-Sep) India (Oct-Sep) 1, , Canada (Aug-Jul) 3,424 3,593 3,600 2,348 2,389 2,580 9,173 9,207 7,800 Japan (Oct-Sep) European Union (Jul-Jun) Other ,151 1,226 1,016 5,499 4,760 4,580 World Total 6,072 5,734 5,828 3,816 3,985 3,910 14,963 14,555 12,680 China (Oct-Sep) 11,908 11,625 11,275 6,750 7,250 7,500 19,100 18,900 18,300 India (Oct-Sep) 2,403 2,400 2,500 2,505 2,455 2,510 7,300 6,450 7,050 Canada (Aug-Jul) ,024 7,954 7,512 Japan (Oct-Sep) 1,430 1,360 1,420 1,030 1,050 1,060 2,405 2,455 2,455 European Union (Jul-Jun) 13,750 14,400 13,650 9,915 10,075 9,875 24,936 25,960 24,450 Other 9,242 9,767 9,413 4,678 5,187 5,132 8,918 9,846 9,316 World Total 39,248 40,072 38,773 25,523 26,700 26,783 69,683 71,565 69,083 Ending Stocks China (Oct-Sep) ,882 2,872 2,462 1,036 1,336 1,036 India (Oct-Sep) Canada (Aug-Jul) ,008 2,322 1,410 Japan (Oct-Sep) European Union (Jul-Jun) ,075 2,277 1,277 Other , World Total ,864 4,172 3,577 7,699 7,535 4,957

18 Table 13: Sunflowerseed and Products: World Supply and Distribution Thousand Metric Tons Oilseed, Sunflowerseed Meal, Sunflowerseed Oil, Sunflowerseed Marketing Year 2013/ / /14 Production Argentina (Mar-Feb) 2,000 3,160 3, ,250 1, ,227 1,245 Russia (Sep-Aug) 10,554 8,929 9,400 3,466 3,215 3,330 3,851 3,570 3,690 Turkey (Sep-Aug) 1,400 1,200 1, Ukraine (Sep-Aug) 11,600 10,200 11,000 4,700 4,280 4,550 4,725 4,305 4,578 European Union (Oct-Sep) 9,052 8,930 7,900 4,130 4,100 3,915 3,190 3,165 3,000 Other 8,141 7,907 8,033 2,758 2,532 2,633 2,394 2,227 2,317 World Total 42,747 40,326 40,533 16,769 16,024 16,233 15,939 15,219 15,425 Argentina (Mar-Feb) Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) European Union (Oct-Sep) ,364 3,300 3,400 1, ,000 Other ,430 1,425 1,455 4,849 4,401 4,366 World Total 1,493 1,376 1,167 5,557 5,505 5,705 6,676 6,132 6,256 Exports Argentina (Mar-Feb) Russia (Sep-Aug) ,729 1,400 1,500 1,753 1,450 1,500 Turkey (Sep-Aug) Ukraine (Sep-Aug) ,648 3,550 4,000 4,181 3,870 4,000 European Union (Oct-Sep) Other 933 1, World Total 1,947 1,881 1,317 6,206 6,023 6,454 7,754 7,372 7,403 Argentina (Mar-Feb) 2,251 2,948 3, Russia (Sep-Aug) 10,095 9,160 9,420 1,650 1,850 1,850 2,140 2,200 2,270 Turkey (Sep-Aug) 1,986 1,706 1,406 1,490 1,420 1,390 1,050 1, Ukraine (Sep-Aug) 11,350 10,350 11, European Union (Oct-Sep) 8,536 8,590 8,160 7,200 7,180 7,165 3,660 3,750 3,750 Other 7,906 7,482 7,747 3,911 3,722 3,822 6,425 6,287 6,221 World Total 42,124 40,236 40,737 15,631 15,622 15,667 14,515 14,550 14,471 Ending Stocks Argentina (Mar-Feb) Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) European Union (Oct-Sep) Other World Total 2,825 2,410 2, ,980 1,409 1,216

19 Table 14: Minor Vegetable Oils: World Supply and Distribution Thousand Metric Tons Oil, Peanut Oil, Cottonseed Oil, Olive Marketing Year 2013/ / /14 Production China (Oct-Sep) 2,725 2,720 2,740 1,487 1,396 1,190 India (Oct-Sep) 1,188 1,139 1,057 1,305 1,320 1,305 Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) ,475 1,550 2,100 Other 1,582 1,604 1,614 1,912 1,912 1, World Total 5,606 5,579 5,545 5,168 5,135 4,770 3,088 2,366 2,755 China (Oct-Sep) India (Oct-Sep) Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) Other World Total Exports China (Oct-Sep) India (Oct-Sep) Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) Other World Total China (Oct-Sep) 2,789 2,830 2,825 1,483 1,386 1,185 India (Oct-Sep) 1,183 1,124 1,052 1,295 1,317 1,320 Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) ,780 1,570 1,570 Other 1,448 1,423 1,454 1,882 1,930 1, World Total 5,614 5,565 5,537 5,075 5,087 4,784 2,799 2,554 2,597 Ending Stocks China (Oct-Sep) India (Oct-Sep) Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) Other World Total

20 Table 15: World Oilseeds and Products Supply and Distribution Million Metric Tons Area Harvested Beginning Stocks Productio n Total Supply Exports Food Use Dom. Domestic Consumpti Ending Stocks Major Oilseeds 2002/ / / / / / / / / / / / Major Protein Meals 2002/ / / / / / / / / / / / Major Vegetable Oils 2002/ / / / / / / / / / / / Based on the aggregate of different marketing years

21 Table 16: World Soybeans and Products Supply and Distribution Million Metric Tons Area Harvested Beginning Stocks Productio n Total Supply Exports Crush Domestic Consumpti Ending Stocks Oilseed, Soybean 2002/ / / / / / / / / / / / Meal, Soybean 2002/ / / / / / / / / / / / Oil, Soybean 2002/ / / / / / / / / / / / Based on the aggregate of different marketing years, primarily October through September.

22 Table 17: World Rapeseed and Products Supply and Distribution Million Metric Tons Area Harvested Beginning Stocks Productio n Total Supply Exports Food Use Dom. Domestic Consumpti Ending Stocks Oilseed, Rapeseed 2002/ / / / / / / / / / / / Meal, Rapeseed 2002/ / / / / / / / / / / / Oil, Rapeseed 2002/ / / / / / / / / / / / Based on the aggregate of different marketing years.