2016/17 Global Olive Oil Production Down But Prices Stabilize

Transcription

1 United States Department of Agriculture Foreign Agricultural Service November 2016 Global Olive Oil Down But Prices Stabilize Global Olive Oil and Stocks Extra Virgin Olive Oil Prices Stabilizing After All-Time High Thousnad MT / / / / /15 Ending Stocks US-$/Ton, Spain Nov-13 Feb-14 May-14 Aug-14 Nov-14 Feb-15 May-15 Aug-15 Nov-15 Feb-16 May-16 Aug-16 Nov-16 Global olive oil supplies in are forecast to tighten as production prospects for major producers in the Mediterranean basin are revised lower. Total global production is forecast at 2.8 million tons, down 8 percent from the previous campaign. Olive oil prices have remained fairly stable over the last 12 months as a larger production in helped offset the previous year s crop losses. Ample carry-in stocks for have also helped to keep current olive oil prices stable. However, any further production shortfall could trigger a price rally similar to one that occurred in mid The biggest change in production is projected for Tunisia where crop prospects have diminished. Heat damage, a lack of winter rains, and a severe drought during the summer months have negatively impacted yields. Accordingly, olive oil production is projected to decline almost 30 percent from the previous year to near 100,000 tons. This is expected to cut Tunisia s olive oil exports roughly in half compared to the previous year. Olive oil production in the European Union is also facing significant losses due to diminished precipitation across the Mediterranean region. Dry weather from September through early October likely impacted yields in Spain, the world s largest olive oil producer. Prolonged dryness and insect pressure have also affected yields in Italy and Greece. Exports in, however, are likely to remain near last season s level due to abundant carry-over stocks. For an subscription, click here to register: Approved by the World Agricultural Outlook Board/USDA

2 OVERVIEW Global oilseed production is forecast higher this month, primarily on larger soybean crops in the United States and Russia, as well as a larger peanut and rapeseed forecast in China. Oilseed exports are up on larger shipments from the United States, Ukraine and Russia, offset by a reduction in Argentina. Soybean imports are forecast slightly lower on reduced demand in Russia offset by an increase in Mexico. Global oil imports are up on higher soybean oil demand in India offset by a reduction in demand for palm and palm kernel oil. Global oilseed stocks are boosted, led by Argentina, United States, and China. The U.S. season-average farm price is up 15 cents to $9.20 per bushel. Global soybean and rapeseed production is raised on revised China production for. Soybean imports are up on stronger demand from the European Union and China. Exports are down slightly with lower shipments from Argentina. Global stocks are raised this month led by China and Argentina. SOYBEAN PRICES U.S. export bids in October, FOB Gulf, averaged $388/ton, down $9 from last month. For the week ending October 27, U.S. soybean export commitments (outstanding sales plus accumulated exports) to China totaled 19.4 million tons compared to 14.9 million a year ago. Total commitments to the world are 36.1 million tons, compared to 27.8 million for the same period last year. FOB ($/MT) Soybean Export Prices Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 U.S. Gulf Brazil Paranagua Argentina Up River TRADE OUTLOOK CHANGES United States o Soybean exports are up 680,000 tons to 55.8 million on larger exportable supplies o Soybean meal exports are down 272,000 tons to 10.9 million on slowing demand. Argentina soybean exports are down 400,000 tons to 9.3 million, and soybean meal exports are down 100,000 tons to 32.7 million on slowing demand.. Brazil soybean meal exports are down 300,000 tons to 15.5 million on slowing demand. European Union o Soybean meal imports are down 200,000 tons to 30.0 million following tighter exportable supplies in South America resulting from lower crush. o Sunflowerseed meal imports are up 100,000 tons to 3.9 million on ample exportable supplies in the Black Sea region.

3 India o Palm oil imports are lowered 250,000 tons to 10.0 million, and palm kernel oil imports are lowered 100,000 tons to 130,000 on larger supplies of other vegetable oils. o Soybean oil imports are raised 400,000 tons to 4.0 million on higher demand. Japan soybean meal imports are down 100,000 tons to 1.8 million on lower domestic demand. Mexico soybean meal imports are lowered 100,000 tons to 2.5 million, while soybean imports are up 100,000 tons to 4.3 million on strong domestic crush margins. Pakistan soybean meal imports are reduced 150,000 tons to 500,000 tons on lower forecast of domestic consumption. Russia soybean imports are down 100,000 tons to 2.1 million following a larger crop. Tunisia olive oil exports are slashed 100,000 tons to 70,000 in response to sharply lower production. TRADE CHANGES Select countries based on trade data United States soybean exports are lowered 103,000 tons to 10.9 million. Algeria soybean oil imports are increased 115,000 tons to 715,000. Argentina o Soybean exports are down 380,000 tons to 9.9 million. o Soybean meal exports are down 275,000 tons to 30.3 million. o Soybean oil exports are down 200,000 tons to 5.7 million. Belarus sunflowerseed meal imports are reduced 110,000 tons to 520,000. China o Soybean imports are raised 730,000 tons to 83.2 million. o Rapeseed meal imports are up 119,000 tons to 359,000 tons, while rapeseed imports are cut 239,000 tons to 4.0 million. European Union o Soybean meal imports are down 600,000 tons to 19.3 million, while soybean imports are up 400,000 tons to 14.6 million. o Palm kernel meal imports are up 100,000 tons to 2.2 million. o Sunflowerseed meal imports are up 130,000 tons to 3.3 million, and sunflowerseed oil is up 100,000 tons to 1.4 million. India o Soybean oil imports are raised 160,000 tons to 4.4 million while palm oil imports are down 515,000 tons to 8.7 million. o Peanut exports are up 100,000 tons to 780,000. Pakistan soybean meal imports are lowered 100,000 tons to 450,000. Philippines soybean meal imports are lowered 150,000 tons to 2.6 million. Ukraine sunflowerseed meal exports are lowered 283,000 tons to 3.8 million while sunflowerseed oil exports are up 200,000 tons to 4.5 million.

4 Questions may be directed to: Bill George (202) Agata Kingsbury (202) Justin Choe (202) To download the tables in the publication, go to the, 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 Reports: Archives World Markets and Trade and World Agricultural Reports: 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 2012/ / /15 Oct Nov 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 2012/ / /15 Oct Nov 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 2012/ / /15 Oct Nov 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 2012/ / /15 Oct Nov United States Brazil Argentina China India Other Total China European Union Mexico Japan Turkey Thailand Pakistan Indonesia Taiwan Egypt Other Total Exports Brazil United States Canada Argentina Paraguay Ukraine Australia Other Crush Total China United States Argentina European Union Brazil India Russia Ukraine Indonesia Canada Mexico Pakistan Malaysia Japan Turkey Other Total Ending Stocks Argentina Brazil China United States Canada 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 2012/ / /15 Oct Nov China United States Argentina Brazil European Union Other Total European Union Vietnam Indonesia United States Thailand Korea, South Philippines Other Total Exports Argentina Brazil United States Ukraine Indonesia Canada Paraguay Other Total China European Union United States Brazil India Mexico Vietnam Russia Thailand Indonesia Other SME Total China European Union United States Brazil India Mexico Vietnam Other Total Ending Stocks Argentina Brazil European Union India Ukraine 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 2012/ / /15 Oct Nov Indonesia China Malaysia European Union United States Argentina Brazil Other Total India European Union China United States Pakistan Egypt Bangladesh Turkey Malaysia Iran Other Total Exports Indonesia Malaysia Argentina Ukraine Canada Russia European Union Other Total China European Union India United States Indonesia Brazil Malaysia Pakistan Argentina Russia Thailand Mexico Egypt Bangladesh Japan Other Total Ending Stocks China Indonesia Malaysia European Union India 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 2012/ / /15 Oct Nov United States 82,791 91, , , , ,688 Brazil 82,000 86,700 97,200 96, , ,000 Argentina 49,300 53,400 61,400 56,800 57,000 57,000 China 13,011 11,951 12,154 11,785 12,500 12,500 India 12,186 9,477 8,711 7,125 9,700 9,700 Paraguay 8,202 8,190 8,154 9,000 9,170 9,170 Canada 5,086 5,359 6,049 6,235 6,000 6,000 Other 15,956 15,997 19,234 18,895 20,669 21,029 Total 268, , , , , ,087 China 59,865 70,364 78,350 83,230 86,000 86,000 European Union 12,538 13,293 13,421 14,600 13,000 13,000 Mexico 3,409 3,842 3,819 4,126 4,200 4,300 Japan 2,830 2,894 3,004 3,186 3,100 3,100 Thailand 1,867 1,798 2,411 2,798 2,650 2,650 Taiwan 2,286 2,335 2,520 2,550 2,600 2,600 Egypt 1,730 1,694 1,947 1,300 2,400 2,400 Indonesia 1,795 2,241 2,006 2,250 2,400 2,400 Turkey 1,249 1,608 2,197 2,283 2,250 2,250 Iran ,311 1,864 2,120 2,120 Other 9,502 12,700 12,884 14,772 15,503 15,393 Total 97, , , , , ,213 Exports Brazil 41,904 46,829 50,612 54,383 58,400 58,400 United States 36,129 44,594 50,143 52,688 55,112 55,792 Argentina 7,738 7,842 10,573 9,920 9,650 9,250 Paraguay 5,518 4,800 4,488 5,300 5,300 5,300 Canada 3,470 3,469 3,854 4,258 4,000 4,000 Other 6,043 5,143 6,548 5,593 6,317 6,417 Crush Total 100, , , , , ,159 China 64,950 68,850 74,500 81,300 86,500 86,500 United States 45,967 47,192 50,975 51,335 53,070 52,526 Argentina 33,611 36,173 40,017 43,230 44,300 44,300 Brazil 35,235 36,861 40,435 39,901 40,500 40,500 European Union 12,500 13,400 13,600 14,800 13,800 13,800 India 10,000 8,200 6,800 5,950 7,600 7,600 Mexico 3,650 4,030 4,175 4,400 4,500 4,650 Russia 2,220 3,400 3,650 4,050 4,000 4,150 Paraguay 2,950 3,350 3,650 3,700 3,800 3,800 Bolivia 2,175 2,250 2,500 2,800 2,800 2,800 Egypt 1,710 1,680 1,950 1,200 2,400 2,400 Iran ,450 2,100 2,300 2,300 Taiwan 1,920 1,925 2,100 2,150 2,250 2,250 Japan 1,915 1,969 2,150 2,283 2,200 2,200 Thailand 1,500 1,500 1,825 2,400 2,200 2,200 Other 9,979 11,068 13,459 14,580 16,268 16,198 Total 230, , , , , ,174 Ending Stocks Argentina 19,472 25,271 31,916 31,850 30,300 31,150 Brazil 15,355 16,020 19,503 18,629 18,479 18,479 China 12,348 13,848 17,009 16,910 13,664 14,460 United States 3,825 2,504 5,188 5,363 10,739 13,075 European Union , Other 3,447 3,634 4,294 3,304 3,288 3,472 Total 55,183 61,900 78,599 77,071 77,360 81,526 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 2012/ / /15 Oct Nov China 51,440 54,531 59,004 64,390 68,508 68,508 United States 36,174 36,909 40,880 40,525 41,980 41,559 Argentina 26,089 27,892 30,928 33,150 34,350 34,350 Brazil 27,310 28,540 31,300 30,880 31,350 31,350 European Union 9,875 10,586 10,744 11,692 10,902 10,902 India 8,000 6,560 5,440 4,760 6,080 6,080 Mexico 2,890 3,185 3,300 3,480 3,560 3,675 Other 19,414 21,692 25,732 27,735 29,953 30,060 Total 181, , , , , ,484 European Union 16,941 18,137 19,158 19,300 21,150 20,950 Vietnam 2,981 3,344 4,502 4,750 5,200 5,200 Indonesia 3,367 3,983 3,844 4,275 4,700 4,700 Thailand 2,874 2,665 3,068 2,433 3,150 3,150 Philippines 1,969 2,338 2,205 2,550 2,800 2,750 Mexico 1,295 1,410 1,795 2,367 2,600 2,500 Korea, South 1,654 1,825 1,751 2,118 1,950 1,950 Japan 1,765 1,976 1,699 1,721 1,900 1,800 Malaysia 1,276 1,397 1,465 1,400 1,650 1,650 Algeria 1,333 1,441 1,101 1,450 1,550 1,550 Other 18,383 19,409 19,769 19,876 19,807 19,606 Total 53,838 57,925 60,357 62,240 66,457 65,806 Exports Argentina 23,667 24,972 28,575 30,325 32,800 32,700 Brazil 13,242 13,948 14,390 15,407 15,800 15,500 United States 10,111 10,504 11,891 10,853 11,158 10,886 Paraguay 2,149 2,504 2,530 2,665 2,710 2,710 China 1,365 2,017 1,595 1,909 1,900 1,900 Other 7,399 6,263 5,033 4,423 5,036 5,126 Total 57,933 60,208 64,014 65,582 69,404 68,822 China 50,091 52,534 57,467 62,505 66,638 66,638 European Union 26,242 28,442 29,542 30,792 31,692 31,442 United States 26,307 26,775 29,282 30,035 31,117 30,935 Brazil 14,800 15,100 15,700 16,200 16,600 16,750 Mexico 4,250 4,575 5,100 5,775 6,150 6,175 Vietnam 3,600 4,100 4,750 5,470 5,940 5,940 India 3,536 3,720 4,740 4,747 4,970 4,970 Thailand 4,150 4,250 4,350 4,450 4,800 4,800 Indonesia 3,430 3,825 4,100 4,325 4,700 4,700 Japan 3,211 3,434 3,361 3,453 3,565 3,420 Russia 2,300 2,700 2,850 3,150 3,350 3,420 Iran 2,650 2,900 3,050 3,180 3,340 3,340 Egypt 2,220 2,450 2,650 2,950 3,200 3,200 Philippines 2,050 2,200 2,350 2,585 2,900 2,800 Argentina 1,850 2,100 2,402 2,625 2,480 2,775 Other 26,993 27,881 30,490 32,170 34,083 33,893 Total 177, , , , , ,198 Ending Stocks Argentina 3,253 4,073 4,025 4,225 3,417 3,100 Brazil 2,966 2,484 3,712 3,010 1,980 2,130 India Philippines United States Other 3,008 3,009 3,742 3,129 3,323 3,124 Total 10,014 10,640 12,127 10,985 9,584 9,255 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 2012/ / /15 Oct Nov China 11,626 12,335 13,347 14,569 15,501 15,501 United States 8,990 9,131 9,706 9,956 10,217 10,110 Argentina 6,364 6,785 7,687 8,430 8,440 8,440 Brazil 6,760 7,070 7,760 7,660 7,750 7,750 European Union 2,375 2,546 2,584 2,812 2,622 2,622 India 1,780 1,460 1,210 1,059 1,353 1,353 Mexico Other 4,569 5,090 6,021 6,486 7,021 7,047 Total 43,117 45,137 49,060 51,757 53,704 53,653 India 1,086 1,830 2,799 4,360 3,600 4,000 China 1,409 1, Algeria Bangladesh Morocco Peru Egypt Colombia Iran Mexico Other 3,030 2,957 3,020 3,053 3,182 3,096 Total 8,504 9,281 9,993 11,839 11,092 11,391 Exports Argentina 4,244 4,087 5,094 5,700 5,610 5,610 Brazil 1,251 1,378 1,510 1,550 1,500 1,500 United States ,016 1, European Union 1, , Paraguay Russia Bolivia Other 899 1,023 1,059 1,039 1,122 1,117 Total 9,358 9,459 11,089 11,806 11,728 11,732 China 12,545 13,650 14,200 15,250 16,200 16,200 United States 8,522 8,576 8,600 9,133 9,320 9,275 Brazil 5,534 5,705 6,265 6,265 6,320 6,320 India 2,960 3,309 4,056 5,200 5,000 5,400 Argentina 2,275 2,729 2,501 2,755 2,815 2,815 European Union 1,900 1,950 1,950 2,000 1,950 2,030 Mexico ,001 1,060 1,075 1,110 Bangladesh Iran Egypt Algeria Pakistan Morocco Korea, South Colombia Other 4,748 4,818 5,097 5,201 5,444 5,403 Total 42,689 45,226 47,927 51,632 53,189 53,608 Ending Stocks United States China 1, India Argentina European Union Other 1,423 1,317 1,285 1,318 1,199 1,178 Total 3,926 3,659 3,696 3,854 3,578 3,558 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 2014/ / /15 Exports North America 12,118 11,201 11,101 1,035 1,170 1,118 53,997 56,946 59,792 Canada (Aug-Jul) ,854 4,258 4,000 United States (Sep-Aug) 11,891 10,853 10, , ,143 52,688 55,792 South America 47,189 50,277 52,794 7,683 8,371 8,240 68,799 71,632 75,904 Argentina (Oct-Sep) 28,575 30,325 32,700 5,094 5,700 5,610 10,573 9,920 9,250 Brazil (Oct-Sep) 14,390 15,407 15,500 1,510 1,550 1,500 50,612 54,383 58,400 Paraguay (Mar-Feb) 2,530 2,665 2, ,488 5,300 5,300 South Asia 1, India (Oct-Sep) 1, Other 3,631 3,945 4,018 2,371 2,262 2,374 3,188 3,429 3,313 World Total 64,014 65,582 68,822 11,089 11,806 11, , , ,159 European Union (Oct-Sep) 19,158 19,300 20, ,421 14,600 13,000 East Asia 3,591 3,916 3,855 1, ,230 85,129 90,343 93,085 China (Oct-Sep) ,350 83,230 86,000 Japan (Oct-Sep) 1,699 1,721 1, ,004 3,186 3,100 Korea, South (Oct-Sep) 1,751 2,118 1, ,246 1,374 1,375 Taiwan (Oct-Sep) ,520 2,550 2,600 Southeast Asia 15,106 15,430 17, ,909 7,418 7,710 Indonesia (Oct-Sep) 3,844 4,275 4, ,006 2,250 2,400 Malaysia (Oct-Sep) 1,465 1,400 1, Philippines (Jan-Dec) 2,205 2,550 2, Thailand (Sep-Aug) 3,068 2,433 3, ,411 2,798 2,650 Vietnam (Jan-Dec) 4,502 4,750 5, ,707 1,350 1,750 North America 3,030 3,522 3, ,062 5,074 5,467 Canada (Aug-Jul) Mexico (Sep-Aug) 1,795 2,367 2, ,819 4,126 4,300 South America 5,025 4,735 4,929 1,317 1,225 1,247 1,434 2,103 1,778 Brazil (Oct-Sep) Colombia (Oct-Sep) 1,148 1,200 1, Central America 1,069 1,182 1, Caribbean 1, , Middle East 4,351 4,045 4, ,795 5,332 5,705 Iran (Oct-Sep) 1,948 1,420 1, ,311 1,864 2,120 Israel (Oct-Sep) Syria (Jan-Dec) Turkey (Oct-Sep) ,197 2,283 2,250 North Africa 2,996 4,645 3,675 1,641 2,020 1,640 2,564 1,875 3,055 Egypt (Oct-Sep) 1,091 2,300 1, ,947 1,300 2,400 Other 4,983 4,477 4,680 3,945 5,662 5,348 4,157 5,774 5,955 World Total 60,357 62,240 65,806 9,993 11,839 11, , , ,213

16 Table 11: Palm Oil: World Supply and Distribution Thousand Metric Tons 2012/ / /15 Oct Nov Indonesia 28,500 30,500 33,000 32,000 35,000 35,000 Malaysia 19,321 20,161 19,879 17,700 20,000 20,000 Thailand 2,135 2,000 2,068 2,100 2,300 2,300 Colombia 974 1,041 1,110 1,273 1,280 1,280 Nigeria Other 4,477 4,602 4,606 4,799 4,945 4,945 Total 56,377 59,274 61,633 58,842 64,495 64,495 India 8,364 7,820 9,256 8,735 10,250 10,000 European Union 6,812 6,969 6,718 6,700 6,600 6,600 China 6,589 5,573 5,696 4,689 5,150 5,100 Pakistan 2,245 2,725 2,826 3,000 3,300 3,300 Egypt 969 1,075 1,489 1,350 1,600 1,600 Bangladesh 1,030 1,232 1,280 1,500 1,500 1,500 United States 1,293 1,220 1,143 1,314 1,225 1,270 Burma Malaysia Russia Other 12,449 13,729 13,573 13,452 14,493 14,469 Total 42,133 41,992 44,623 43,430 46,618 46,339 Exports Indonesia 20,373 21,719 25,964 24,000 26,000 26,000 Malaysia 18,524 17,344 17,378 16,620 17,500 17,500 Benin Papua New Guinea Guatemala Other 2,911 2,596 2,562 2,579 2,637 2,681 Total 43,148 43,207 47,459 44,834 47,762 47,806 India 8,250 8,452 9,250 9,200 10,400 10,200 Indonesia 8,035 8,750 7,420 8,570 9,100 9,100 European Union 6,560 6,850 6,730 6,600 6,520 6,520 China 6,389 5,700 5,700 4,800 5,150 5,050 Pakistan 2,285 2,490 2,690 3,045 3,245 3,245 Malaysia 2,451 2,869 2,941 3,124 3,170 3,170 Thailand 1,710 1,880 1,965 2,055 2,185 2,185 Egypt 1,180 1,200 1,505 1,380 1,600 1,600 Nigeria 1,405 1,470 1,470 1,500 1,530 1,530 Bangladesh 1,030 1,215 1,275 1,400 1,500 1,500 United States 1,238 1,207 1,091 1,275 1,271 1,285 Colombia ,040 1,040 Burma Philippines Russia Other 12,346 13,055 13,100 13,489 14,030 14,000 Total 55,421 58,050 58,391 59,943 63,301 63,000 Ending Stocks Indonesia 3,152 3,210 2,834 2,264 2,164 2,164 Malaysia 1,784 2,090 2,641 1,547 1,677 1,677 India Pakistan Thailand Other 3,160 3,159 2,991 2,485 2,364 2,438 Total 9,284 9,293 9,699 7,194 7,313 7,222

17 Table 12: Rapeseed and Products: World Supply and Distribution Thousand Metric Tons Meal, Rapeseed Oil, Rapeseed Oilseed, Rapeseed Marketing Year 2014/ / /15 China (Oct-Sep) 10,890 11,009 9,998 7,137 7,215 6,552 14,772 14,931 13,500 India (Oct-Sep) 2,507 2,985 3,403 1,596 1,900 2,166 5,080 5,920 6,800 Canada (Aug-Jul) 4,150 4,665 4,680 3,230 3,625 3,635 16,410 18,376 18,500 Japan (Oct-Sep) 1,392 1,360 1,360 1,074 1,060 1, European Union (Jul-Jun) 14,458 13,851 13,224 10,603 10,157 9,698 24,587 22,199 20,000 Other 5,732 5,331 5,235 3,994 3,748 3,668 10,602 8,810 9,011 World Total 39,129 39,201 37,900 27,634 27,705 26,794 71,454 70,239 67,814 China (Oct-Sep) ,591 4,011 3,800 India (Oct-Sep) Canada (Aug-Jul) Japan (Oct-Sep) ,489 2,387 2,450 European Union (Jul-Jun) ,317 3,494 3,500 Other 5,405 4,976 5,029 2,529 2,686 2,677 4,873 4,235 4,266 World Total 6,034 5,773 5,571 3,957 4,063 4,130 14,358 14,231 14,116 Exports China (Oct-Sep) India (Oct-Sep) Canada (Aug-Jul) 3,638 4,035 4,075 2,409 2,766 2,880 9,216 10,278 9,700 Japan (Oct-Sep) European Union (Jul-Jun) Other ,295 1, ,266 4,057 3,982 World Total 5,854 5,590 5,560 4,069 4,138 4,111 15,070 14,685 14,082 China (Oct-Sep) 11,032 11,254 10,048 7,750 8,300 8,100 18,900 19,100 17,400 India (Oct-Sep) 1,700 2,700 3,015 2,080 2,280 2,535 5,150 5,950 6,700 Canada (Aug-Jul) ,737 8,729 8,750 Japan (Oct-Sep) 1,349 1,360 1,360 1,058 1,097 1,090 2,478 2,419 2,455 European Union (Jul-Jun) 14,450 13,850 13,150 10,350 10,150 9,750 26,315 25,200 24,100 Other 10,264 9,608 9,636 5,242 5,462 5,450 10,177 9,155 9,246 World Total 39,322 39,375 37,851 27,146 28,097 27,710 70,757 70,553 68,651 Ending Stocks China (Oct-Sep) ,164 3,844 2,991 1,499 1,340 1,240 India (Oct-Sep) Canada (Aug-Jul) ,542 2,015 2,165 Japan (Oct-Sep) European Union (Jul-Jun) ,891 2,035 1,035 Other World Total ,708 5,241 4,344 7,327 6,559 5,756

18 Table 13: Sunflowerseed and Products: World Supply and Distribution Thousand Metric Tons Oilseed, Sunflowerseed Meal, Sunflowerseed Oil, Sunflowerseed Marketing Year 2014/ / /15 Argentina (Mar-Feb) 3,160 2,700 3,300 1,147 1,189 1,290 1,151 1,180 1,260 Russia (Sep-Aug) 8,374 9,173 10,000 3,345 3,510 3,900 3,366 3,530 3,924 Turkey (Sep-Aug) 1,200 1,000 1, Ukraine (Sep-Aug) 10,200 11,900 13,500 4,223 4,797 5,392 4,429 5,031 5,655 European Union (Oct-Sep) 9,000 7,611 8,200 4,154 3,882 4,018 3,232 3,021 3,127 Other 7,490 7,977 7,532 2,387 2,471 2,464 2,077 2,139 2,127 World Total 39,424 40,361 43,732 16,106 16,534 17,814 14,986 15,490 16,738 Argentina (Mar-Feb) Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) European Union (Oct-Sep) ,210 3,330 3, ,350 1,300 Other ,518 1,901 1,949 4,494 5,079 5,413 World Total 1,480 1,623 1,337 5,510 6,040 6,684 6,136 7,119 7,615 Exports Argentina (Mar-Feb) Russia (Sep-Aug) ,333 1,211 1,550 1,456 1,540 1,850 Turkey (Sep-Aug) Ukraine (Sep-Aug) ,394 3,817 4,700 3,872 4,500 5,000 European Union (Oct-Sep) Other World Total 1,663 1,832 1,631 5,869 6,140 7,269 7,384 8,094 8,803 Argentina (Mar-Feb) 2,800 2,884 3, Russia (Sep-Aug) 8,670 9,070 10,020 2,050 2,200 2,450 1,950 1,950 2,060 Turkey (Sep-Aug) 1,706 1,376 1,506 1,600 1,500 1, Ukraine (Sep-Aug) 10,460 11,860 13, European Union (Oct-Sep) 8,660 8,170 8,420 7,100 7,000 7,650 3,700 3,840 4,190 Other 7,164 7,404 7,265 3,676 4,103 4,191 6,323 6,951 7,138 World Total 39,460 40,764 43,575 15,776 16,253 17,471 14,219 15,011 15,702 Ending Stocks Argentina (Mar-Feb) 1, Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) European Union (Oct-Sep) Other World Total 2,768 2,156 2,019 1,159 1,340 1,098 2,048 1,552 1,400

19 Table 14: Minor Vegetable Oils: World Supply and Distribution Thousand Metric Tons Oil, Peanut Oil, Cottonseed Oil, Olive Marketing Year 2014/ / /15 China (Oct-Sep) 2,686 2,784 2,928 1,396 1,222 1, India (Oct-Sep) 1, ,320 1,256 1,234 Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) ,435 2,310 2,100 Other 1,579 1,589 1,600 1,896 1,571 1, World Total 5,436 5,330 5,629 5,124 4,459 4,538 2,399 3,072 2,822 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) 2,819 2,887 3,052 1,387 1,221 1, India (Oct-Sep) 1, ,295 1,275 1,202 Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) ,490 1,590 1,620 Other 1,401 1,415 1,429 1,891 1,624 1, World Total 5,484 5,355 5,638 5,054 4,512 4,464 2,652 2,807 2,820 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 2003/ / / / / / / / / / / / Major Protein Meals 2003/ / / / / / / / / / / / Major Vegetable Oils 2003/ / / / / / / / / / / / 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 2003/ / / / / / / / / / / / Meal, Soybean 2003/ / / / / / / / / / / / Oil, Soybean 2003/ / / / / / / / / / / / 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 2003/ / / / / / / / / / / / Meal, Rapeseed 2003/ / / / / / / / / / / / Oil, Rapeseed 2003/ / / / / / / / / / / / Based on the aggregate of different marketing years.