Growth in Industrial Uses of Palm Oil Exceeds Food Uses

Transcription

1 United States Department of Agriculture Foreign Agricultural Service Circular Series FOP 9-5 September 25 Growth in Industrial Uses of Palm Oil Exceeds Food Uses Annual Growth 3% 25% 2% 15% 1% Food Use Industrial Use 5% % /1 1/2 2/3 3/4 4/5 5/6 The industrial use of palm oil has continued to grow dramatically, rising 54 percent in the last three years. While the rapid growth in the industrial use of palm oil before 23/24 was due to the expansion of the oleo chemical industry in Southeast Asia, recent increases are linked to the rise in petroleum prices beginning in 23/24. Palm oil is increasingly used as a fuel, especially in the European Union. The European Union became the second largest importer of palm oil last year just behind China, almost exclusively on the basis of its use as a fuel. Industrial use of palm oil in the European Union for 24/25 is estimated at 1.3 million tons, with about 1 million of that for fuel. This fuel is mostly used for generating electricity in power plants rather than in automobiles or trucks. The annual change in food use since 2/21 has averaged 7 percent while changes in industrial use have been a more robust 18 percent. Food use still dominates the overall use of palm oil at 74 percent of production for 24/25, but this is down from 83 percent of production in 2/21. Given its price advantage relative to other vegetable oils, palm oil will likely receive increasing attention as an alternative fuel. Such attention is driven by high petroleum prices and efforts to reduce dependence on fossil fuels. However, as a result of increased industrial use of vegetable oil in the longer term, stocks are likely to come under pressure and prices should rise, moderating the growth in demand for industrial vegetable oil. Approved by the World Agricultural Outlook Board/USDA

2 List of Tables Key Oilseeds Forecast Changes from Last Month Table 1: Major Oilseeds: World Supply and Distribution Table 2: Major Protein Meals: World Supply and Distribution Table 3. Major Vegetable Oils: World Supply and Distribution Table 4: Major Oilseeds: Area, Yield, and Production by Main Producers Table 5: Soybeans: World Supply and Distribution Table 6: Soybean Meal: World Supply and Distribution Table 7: Soybean Oil: World Supply and Distribution Table 8: Soybeans and Products: World Trade Notes on World Supply/Demand Tables Table 9: Vegetable Oils Production, Consumption, and Imports For Selected Countries Table 1: United States: Oilseeds and Products Supply and Distribution Local Marketing Year Table 11: United States: Soybeans and Products Supply and Distribution Local Marketing Years Table 12: Brazil: Soybeans and Products Supply and Distribution Local Marketing Years Table 13: Argentina: Soybeans and Products Supply and Distribution Local Marketing Years Table 14: Argentina: Sunflowerseed and Products Supply and Distribution Local Marketing Years Table 15: European Union (25): Oilseeds and Products Supply and Distribution Table 16: Russia: Oilseeds and Products Supply and Distribution Table 17: China: Oilseeds and Products Supply and Distribution Table 18: India: Oilseeds and Products Supply and Distribution Table 19: Malaysia: Palm Oil Supply and Distribution Table 2: Oilseed Prices Table 21: Protein Meal Prices Table 22: Vegetable Oil Prices Table 23: GSM-12 Program Announcements and Sales Registrations Contact List Page 2 of 28 September 25 Circular

3 Return to Oilseeds Table of Contents Page Key Oilseeds Forecast Changes From August Oilseed, Soybean (Thousand Metric Tons) Ending Year Production Imports Exports Consumption Stocks Argentina 25/ ,877 Brazil 25/26-2, ,12 China, Peoples Republi 25/ Mexico 25/ United States 25/26 1, World 25/ ,434-3,352 Meal, Soybean Argentina 25/ Brazil 25/ China, Peoples Republi 25/ Turkey 25/ United States 25/ World 25/26 1, Oil, Soybean China, Peoples Republi 25/ India 25/ World 25/ Oilseed, Rapeseed Canada 25/ EU-25 25/ World 25/ , Oil, Rapeseed EU-25 25/ World 25/ Meal, Rapeseed EU-25 25/ World 25/ Oilseed, Sunflowerseed Bulgaria 25/ World 25/ Oil, Sunflowerseed World 25/ Oilseed, Palm Kernel Indonesia 25/ World 25/ Meal, Palm Kernel EU-25 25/ World 25/ Oil, Palm Indonesia 25/26 1, World 25/26 1, , Oilseed, Cottonseed China, Peoples Republi 25/ India 25/ United States 25/ World 25/ Meal, Fish Peru 25/ World 25/ Page 3 of 28 September 25 Circular

4 Table 1 Major Oilseeds: World Supply and Distribution (Million Metric Tons) August September August September 2/1 21/2 22/3 23/4 24/5 24/5 25/6 25/6 Production Copra Cottonseed PalmKernel Peanut Rapeseed Soybean Sunflowerseed Imports Copra Cottonseed PalmKernel Peanut Rapeseed Soybean Sunflowerseed Exports Copra Cottonseed PalmKernel Peanut Rapeseed Soybean Sunflowerseed Crush Copra Cottonseed PalmKernel Peanut Rapeseed Soybean Sunflowerseed Ending Stocks Copra Cottonseed PalmKernel Peanut Rapeseed Soybean Sunflowerseed Note: s may not add due to rounding. For notes and discriptions of prices and area designated see page following Table 8. Source: Counselor and Attache Reports Page 4 of 28 September 25 Circular

5 Table 2 Major Protien Meals: World Supply and Distribution (Million Metric Tons) August September August September 2/1 21/2 22/3 23/4 24/5 24/5 25/6 25/6 Production Copra Cottonseed Fish PalmKernel Peanut Rapeseed Soybean Sunflowerseed Imports Copra Cottonseed Fish PalmKernel Peanut Rapeseed Soybean Sunflowerseed Exports Copra Cottonseed Fish PalmKernel Peanut Rapeseed Soybean Sunflowerseed Consumption Copra Cottonseed Fish PalmKernel Peanut Rapeseed Soybean Sunflowerseed Ending Stocks Copra Cottonseed Fish PalmKernel Peanut Rapeseed Soybean Sunflowerseed Note: s may not add due to rounding. For notes and discriptions of prices and area designated see page following Table 8. Source: Counselor and Attache Reports Page 5 of 28 September 25 Circular

6 Table 3 Major Vegetable Oil: World Supply and Distribution (Million Metric Tons) August September August September 2/1 21/2 22/3 23/4 24/5 24/5 25/6 25/6 Production Coconut Cottonseed Olive Palm PalmKernel Peanut Rapeseed Soybean Sunflowerseed Imports Coconut Cottonseed Olive Palm PalmKernel Peanut Rapeseed Soybean Sunflowerseed Exports Coconut Cottonseed Olive Palm PalmKernel Peanut Rapeseed Soybean Sunflowerseed Consumption Coconut Cottonseed Olive Palm PalmKernel Peanut Rapeseed Soybean Sunflowerseed Ending Stocks Coconut Cottonseed Olive Palm PalmKernel Peanut Rapeseed Soybean Sunflowerseed Note: s may not add due to rounding. For notes and discriptions of prices and area designated see page following Table 8. 1/ Palm Oil trade excludes transshipments through Singapore. Source: Counselor and Attache Reports Page 6 of 28 September 25 Circular

7 Cottonseed Table 4 Major Oilseeds: 1/ Area, Yield, and Production by Main Producers Average 1999/2-23/4 Preliminary 24/5 Forecast 25/6 Area 2/ Yield 3/ Prod 4/ Area 2/ Yield 3/ Prod 4/ Area 2/ Yield 3/ Prod 4/ China 4, ,428 5, ,5 5,1 2. 1,2 India 8, ,86 9,.88 7,9 9, ,2 United States 5, ,4 5, ,477 5, ,919 Pakistan 2, ,538 3, ,797 3, ,15 Other 1, ,383 11, ,719 11, ,846 31, ,439 34, ,393 34, ,315 Peanut China 4, ,946 4, ,34 5, ,7 India 7, ,38 8,.85 6,8 7,8.9 7, United States , , ,332 Nigeria 1, ,486 1, ,52 1, ,52 Indonesia , , ,17 Other 7, ,33 7, ,399 7, ,496 22, ,616 22, ,142 22, ,218 Rapeseed European Union 4, ,97 4, ,29 4, ,84 China 7, ,963 7, ,182 7, ,4 Canad 4, ,394 4, ,7 5, ,2 India 5, ,837 6, , 6,8.94 6,4 Australia 1, ,697 1, , ,1 Other 1, ,772 1, ,813 1, ,944 24, ,633 26, ,518 26, ,884 Soybean United States 29, ,548 29, ,484 29, ,642 Brazil 16, ,4 22, , 22, , Argentina 11, ,5 14, , 14, , China 8, ,41 9, , 9, , Other 13, ,497 15, ,941 15, ,977 79, ,985 92, ,425 91, ,619 Sunflowerseed Russian Federation 4, ,854 4, ,75 5,1 1. 5,1 Ukraine 2, ,25 3,4.9 3,5 3, , Argentina 2, ,967 1, ,6 2, ,9 European Union 2, ,952 2, ,181 1, ,515 Other 9, ,513 9, ,19 1, ,94 2, ,49 21, ,771 22, ,419 OILSEEDS 189, ,919 23, ,72 197, ,34 1/ Split year includes northern hemisphere crops harvested in the late months of the first year shown combined with southern hemisphere and certain northern hemisphere crops harvested in the early months of the following year. 2/ In Million Hectares. 3/ InTtons per Hectare. 4/ in Million Metric Tons. Source: Counselor and Attache Reports Page 7 of 28 September 25 Circular

8 Production Imports 2/1 Table 5 Soybeans: World Supply and Distribution (Thousand Metric Tons) August September August September 21/2 22/3 23/4 24/5 24/5 25/6 25/6 United States 75,55 78,672 75,1 66,778 85,484 85,484 75,962 77,74 Brazil 39,5 43,5 52, 5,5 51, 51, 62, 6, Argentina 27,8 3, 35,5 33, 39, 39, 39, 39, Paraguay 3,52 3,547 4,5 3,911 3,8 3,8 4,8 4,8 China 15,4 15,41 16,51 15,394 18, 18, 17, 17, India 5,25 5,4 4, 6,8 5,5 5,5 6,5 6,5 175, ,89 197,33 186, ,32 214, , ,717 Asia 25,342 23,943 34,293 29,11 36,13 37,13 39,393 39,393 China 13,245 1,385 21,417 16,933 24, 25, 27, 27, Japan 4,767 5,23 5,87 4,688 4,35 4,35 4,5 4,5 Taiwan 2,33 2,578 2,351 2,218 2,3 2,3 2,21 2,21 Thailand 1,29 1,56 1,78 1,47 1,525 1,525 1,575 1,575 Indonesia 1,127 1,414 1,235 1,316 1,375 1,375 1,45 1,45 Korea, Republic 1,389 1,434 1,516 1,368 1,25 1,25 1,3 1,3 EU-25 17,525 18,539 16,872 14,638 14,959 15,3 15,2 15,35 Latin America 6,82 7,484 7,349 6,6 6,288 6,148 6,549 6,324 Mexico 4,381 4,51 4,23 3,797 3,7 3,5 3,9 3,7 Middle East 1,725 1,828 2,4 2,373 2,78 3,75 2,83 3,25 Africa, North ,2 Exports 53,161 54,453 62,924 54,246 62,142 63,853 66,143 66,63 Latin America 25,57 23,543 31,652 29,969 31,91 32,777 35,436 35,59 Brazil 15,469 15, 19,734 19,816 19,539 2,39 23,11 22,465 Argentina 7,415 6,5 8,713 6,71 8,165 9, 8,7 9,4 Paraguay 2,59 2,285 2,86 2,776 2,6 2,6 3, 3, United States 27,13 28,948 28,423 24,128 29,937 29,81 29,81 3,345 Crush 53,742 53,41 61,177 55,861 62,691 64,266 66,882 67,675 Latin America 47,171 53,427 58,938 61,658 62,4 62,598 67,32 66,94 Brazil 22,742 24,693 27,168 29,331 29,392 28,78 31,6 31,27 Argentina 17,3 2,859 23,527 25,39 25,525 26,5 27,272 27,69 Mexico 4,45 4,61 4,336 3,892 3,79 3,59 3,99 3,79 Asia 33,111 35,271 4,49 4,32 43,493 43,883 48,194 49,94 China 18,9 2,25 26,54 25,439 29,775 3,165 33,35 34,25 India 4,525 4,629 3,42 5,534 4,71 4,71 5,515 5,515 Japan 3,775 3,885 4,217 3,536 3,179 3,179 3,3 3,3 Taiwan 2,128 2,187 2,135 2,46 2,1 2,1 1,99 1,99 United States 44,625 46,259 43,948 41,622 45,994 46,267 45,45 45,858 EU-25 16,598 17,636 16,29 14,129 14,289 14,63 14,55 14,7 Middle East 1,451 1,461 1,676 2,8 2,231 2,58 2,37 2,748 Ending Stocks 146, , , , ,5 174, , ,596 Latin America 17,774 22,622 28,688 27,717 31,197 29,168 37,111 33,114 Brazil 9,431 12,18 15,932 14,74 14,94 13,855 18,451 17,331 Argentina 7,928 1,159 12,467 12,676 16,836 15,46 18,414 15,537 United States 6,743 5,663 4,853 3,59 8,158 8,29 4,899 5,579 Asia 6,16 3,468 5,372 2,94 4,941 5,541 4,759 4,759 U.S. Season Average Price($/bu) 31, ,262 4,397 35,6 45,974 44,456 48,269 44, Note: s may not add due to rounding. For notes and discriptions of prices and area designated see page following Table 8 Brazil and Argentina estimates have been adjusted to a consistent Oct-Sep marketing year; Estimates of other countries (including the U.S.) are on a local marketing year. Source: Counselor and Attache Reports Page 1 of 3 September 25 Circula

9 Production 2/1 Table 6 Soybean Meal: World Supply and Distribution (Thousand Metric Tons) August September August September 21/2 22/3 23/4 24/5 24/5 25/6 25/6 United States 35,73 36,552 34,649 32,953 36,636 36,863 36,38 36,355 China 15,5 16,3 21, 2,19 23,562 23,87 26,56 27,26 India 3,614 3,7 2,73 4,422 3,765 3,765 4,41 4,41 Japan 2,927 3,13 3,267 2,74 2,479 2,479 2,574 2,574 Brazil 17,863 19,47 21,353 22,781 22,85 22,592 24,6 24,356 Argentina 13,65 16,499 18,587 19,758 2,14 2,91 21,513 21,779 Mexico 3,53 3,656 3,44 3,9 3,8 2,846 3,166 3,4 EU-25 13,73 13,885 12,825 11,1 11,227 11,5 11,435 11,54 Imports 116, ,278 13, ,87 136, , , ,221 EU-25 17,52 19,691 2,361 21,911 22,75 22,75 23,3 23,3 Asia 7,68 8,96 9,243 9,74 9,21 9,271 9,55 9,61 Thailand 1,48 1,888 1,91 1,647 1,5 1,5 1,6 1,6 Indonesia 1,615 1,251 1,5 1,547 1,525 1,525 1,55 1,55 Korea, Republic 1,42 1,523 1,528 1,37 1,5 1,5 1,51 1,51 Latin America 3,692 3,999 4,528 5,16 5,518 5,593 5,76 5,81 Middle East 2,532 2,171 2,578 2,89 2,485 2,585 2,87 3,25 Africa, North 1,722 2,58 1,879 1,986 1,88 1,88 1,88 1,88 Exports 35,948 4,453 42,52 44,683 45,546 45,746 47,4 47,249 Latin America 25,492 29,512 33,452 35,657 35,55 36,13 38,1 38,163 Argentina 13,6 16,239 18,4 18,946 18,965 19,791 2,67 2,823 Brazil 1,679 11,862 13,611 14,761 14,945 14,627 15,255 15,255 Bolivia ,85 1,85 1,83 1,83 Paraguay , United States 7,335 7,271 5,728 4,69 6,623 6,623 5,67 5,86 Asia 2,535 3,634 2,127 4,25 2,777 2,747 2,892 2,892 India 2,35 2,45 1,225 3,31 1,95 1,95 2,1 2,1 Consumption 36,12 41,499 42,639 45,37 45,79 46,314 47,497 47,851 Asia 31,351 33,34 39,79 37,49 4,742 41,15 44,686 45,446 China 14,995 15,24 2,152 19,542 22,852 23,19 25,95 26,65 Japan 3,559 4,66 4,331 4,175 3,85 3,875 3,849 3,99 EU-25 3,375 33,6 33,26 32,641 33,66 33,88 34,33 34,44 United States 28,359 29,541 29,9 28,53 3,118 3,3 3,527 3,78 Latin America 15,715 16,56 17,4 17,96 18,637 18,578 2,463 19,967 Brazil 7,55 7,836 8,98 8,278 8,43 8,43 9,4 9, Mexico 3,791 4,63 4,14 3,823 3,991 3,94 4,27 4,158 Middle East 3,387 3,35 3,152 4,26 3,743 3,926 4,247 4,556 Africa, North 2,92 2,62 2,379 2,515 2,421 2,558 2,543 2,685 Ending Stocks 116, , , , , ,87 143,36 144,359 Latin America 1,159 1,245 1,743 1,562 1,814 1,818 1,849 2,122 Argentina EU , Asia 1,214 1,334 1, U.S. Season Average Price($/s.t.) 3, ,16 4,428 3,679 4,6 3,989 4,16 4, Note: s may not add due to rounding. For notes and discriptions of prices and area designated see page following Table 8 Brazil and Argentina estimates have been adjusted to a consistent Oct-Sep marketing year; Estimates of other countries (including the U.S.) are on a local marketing year. Source: Counselor and Attache Reports Page 2 of 3 September 25 Circula

10 Production 2/1 Table 7 Soybean Oil: World Supply and Distribution (Thousand Metric Tons) August September August September 21/2 22/3 23/4 24/5 24/5 25/6 25/6 United States 8,355 8,572 8,36 7,748 8,727 8,764 8,546 8,67 China 3,24 3,575 4,73 4,535 5,316 5,385 5,994 6,152 India , ,19 1,19 Japan Brazil 4,273 4,64 5,15 5,636 5,628 5,525 6,44 5,945 Argentina 3,19 3,876 4,383 4,513 4,695 4,875 5,7 5,135 Mexico EU-25 2,961 3,165 2,922 2,535 2,565 2,625 2,61 2,64 Middle East Imports 26,73 28,875 3,469 29,911 31,774 32,37 33,496 33,794 Asia 3,96 3,353 4,118 4,456 4,61 4,75 5,199 5,349 China ,712 2,729 1,96 1,8 2,6 2,4 India 1,4 1,55 1, ,6 1,9 1,65 2, Latin America 1,156 1,443 1,461 1,489 1,68 1,68 1,71 1,71 Venezuela Peru Middle East 931 1,186 1, ,75 1,57 1,189 1,171 Iran , 1, Africa, North Morocco Africa, Other Exports 7,128 8,24 8,513 8,349 9,47 9,156 9,841 9,972 Latin America 5,11 5,847 7,49 7,547 7,588 7,55 8,331 8,38 Argentina 3,211 3,729 4,34 4,413 4,548 4,728 4,88 5,38 Brazil 1,53 1,775 2,267 2,719 2,664 2,446 2,969 2,86 EU Consumption 7,167 8,436 9,386 8,981 9,359 9,38 1,8 1,2 Asia 8,49 9,411 11,27 11,579 12,318 12,482 13,641 13,97 China 3,542 4,137 6,389 7,174 7,361 7,25 8,571 8,492 India 2,2 2,387 1,946 1,782 2,4 2,675 2,635 2,98 United States 7,41 7,635 7,748 7,65 7,847 7,847 8,6 8,6 Latin America 5,24 5,441 5,458 5,431 5,6 5,655 5,91 5,858 Brazil 3,29 3,32 2,985 2,954 3,9 3,19 3,1 3,125 Mexico EU-25 2,123 2,256 2,276 2,34 1,993 2,33 1,964 2,14 Middle East 97 1,235 1, ,195 1,212 1,324 1,357 Iran ,5 Africa, North ,36 1,51 1,93 1,11 Ending Stocks 26,53 28,557 3,236 29,77 31,286 31,581 33,284 33,68 United States 1,255 1, Asia China U.S. Season Average Price(c/lb) 2, ,611 1,971 1,543 1,729 1,847 1,72 1, Note: s may not add due to rounding. For notes and discriptions of prices and area designated see page following Table 8 Brazil and Argentina estimates have been adjusted to a consistent Oct-Sep marketing year; Estimates of other countries (including the U.S.) are on a local marketing year. Source: Counselor and Attache Reports Page 3 of 3 September 25 Circula

11 Table 8 Soybean and Products: World trade (Thousand Metric Tons) Soybean Soybean Meal Soybean Oil 23/4 24/5 25/6 23/4 24/5 25/6 23/4 24/5 25/6 Exports Latin America 29,969 32,777 35,59 35,657 36,13 38,163 7,547 7,55 8,38 Brazil 19,816 2,39 22,465 14,761 14,627 15,255 2,719 2,446 2,86 Argentina 6,71 9, 9,4 18,946 19,791 2,823 4,413 4,728 5,38 Paraguay 2,776 2,6 3, 1, Bolivia ,85 1, United States 24,128 29,81 3,345 4,69 6,623 5, Canada 914 1,25 1, Asia ,25 2,747 2, China FSU Rest of World World 55,861 64,266 67,675 45,37 46,314 47,851 8,981 9,38 1,2 Imports Asia 29,11 37,13 39,393 9,74 9,271 9,61 4,456 4,75 5,349 China 16,933 25, 27, ,729 1,8 2,4 Japan 4,688 4,35 4,5 1,195 1,37 1, Taiwan 2,218 2,3 2, Thailand 1,47 1,525 1,575 1,647 1,5 1,6 1 Indonesia 1,316 1,375 1,45 1,547 1,525 1, Korea, Republic of 1,368 1,25 1,3 1,37 1,5 1, Malaysia Philippines ,186 1,175 1, Latin America 6,6 6,148 6,324 5,16 5,593 5,81 1,489 1,68 1,71 Mexico 3,797 3,5 3,7 75 1,5 1, Brazil Colombia Chile Cuba Middle East 2,373 3,75 3,25 2,89 2,585 3, ,57 1,171 Turkey , Iran , , Israel United Arab Emirate Syria Africa, North ,2 1,986 1,88 1, Egypt Morocco Europe, Other Norway Canada ,57 1,1 1, Rest of World 14,95 15,577 15,564 23,946 24,699 25, Note : Source: World 54,246 63,853 66,63 44,683 45,746 47,249 8,349 9,156 9,972 See Following Page for Countries included in regional areas. 1/ An Aggregate of individual Marketing Years Counselor and Attache Reports September 25 Circula

12 Notes on World Supply/Demand Tables 1)Trade, crush, consumption, and stocks data are aggregated using individual marketing years with the exception of Argentina and Brazil. These two countries are converted to an October-September basis. Marketing years for countries in the Northern Hemisphere begin in the first year shown. Those in the Southern Hemisphere begin in the second year. 2)World imports and exports will not balance. and importation. 3)Stocks data are not estimated for all countries. This is due to differences in marketing years and time lags between exportation 4)Price averages are dollars per bushel for soybeans, dollars per short ton for soybean meal and cents per pound for soybean oi Regional area and county designations in the soybean, soybean meal, and soybean oil supply, distribution, and trade tables are as follows: Africa, North Algeria Egypt Libya Morocco Tunisia Africa, Other Angola Burkina (Upper Volta) Ethiopia Ivory Coast Kenya Malagasy Republic Mauritius Nigeria Senegal Somalia South Africa Tanzania Zambia Zimbabwe Asia Bangladesh Burma China Cambodia Hong Kong India Indonesia Japan Korea, North Korea, Republic of Malaysia Pakistan Philippines Singapore Sri Lanka Taiwan Thailand Vietnam Baltic States Estonia Latvia Lithuania Europe, Eastern Bulgaria Bosnia-Hercegovina Croatia Czech Republic Slovakia Slovenia Hungary Macedonia Poland Romania Yugoslavia Europe, Western (non-eu) Malta Norway Switzerland Europe, Western (EU)* Belgium Luxemburg Denmark France Germany Greece Ireland Italy Netherlands Portugal Spain United Kingdom Austria Finland Sweden FSU-12 Armenia Azerbaijan Byelarus Georgia Kazakhstan Kyrgyzstan Moldova Russia Tajikistan Turkmenistan Ukraine Uzbekistan Latin America Argentina Barbados Bolivia Brazil Chile Colombia Costa Rica Cuba Dominican Republic Ecuador El Salvador Guatemala Guyana Haiti Honduras Jamaica Mexico Netherlands Antilles Nicaragua Panama Paraguay Peru Suriname Trinidad-Tobago Uruguay Venezuela Middle East Cyprus Iran Iraq Israel Jordan Kuwait Lebanon Saudi Arabia Syria Turkey Oceania Australia New Zealand United States Canada Page 12 of 28 September 25 Circular

13 Table 9 Vegetable Production, Consumption and Imports For Top 1 Consuming Markets (Thousand Metric Tons) Prelim Forecast 2/1 21/2 22/3 23/4 24/5 25/6 Brazil Oil Production 9,312 9,946 1,944 12,214 11,992 12,844 Oil Consumption Oil Imports Oil, Sunflowerseed 6, , , , , , Oil, Soybean China Oil Production 1,765 11,251 11,833 11,959 13,676 14,24 Oil Consumption Oil Imports Oil, Sunflowerseed 13,52 2,891 14,545 3,328 17,48 5, ,964 7, ,46 6, ,115 7,96 3 Oil, Soybean ,712 2,729 1,8 2,4 EU-25 Oil Production 11,294 11,651 1,952 11,258 11,986 11,98 Oil Consumption Oil Imports Oil, Sunflowerseed 14,153 4, ,4 5, ,78 5, ,468 5, ,13 6, ,956 7, Oil, Soybean European Union Oil Production 11,294 11,651 1,952 11,258 11,986 11,98 Oil Consumption 14,153 15,4 15,78 15,468 17,13 17,956 Oil Imports 4,678 5,35 5,412 5,627 6,664 7,211 Oil, Sunflowerseed Oil, Soybean India Oil Production 5,21 5,891 4,95 6,835 6,93 7,24 Oil Consumption Oil Imports Oil, Sunflowerseed 11,131 6, ,33 5, ,729 5, ,258 4, ,371 5, ,777 5,875 1 Oil, Soybean 1,4 1,55 1, ,9 2, Indonesia Oil Production 1,237 11,178 12,365 13,754 15,614 16,752 Oil Consumption Oil Imports Oil, Soybean Oil, Rapeseed 4, , , , , , Malaysia Oil Production 13,561 13,462 14,881 15,118 17,11 17,444 Oil Consumption Oil Imports Oil, Soybean Oil, Palm Kernel 2, , , ,286 1, , , Russian Federation Oil Production 1,338 1,12 1,395 1,688 1,859 2,37 Oil Consumption 2,162 2,191 2,9 2,235 2,59 2,734 Oil Imports 965 1, Oil, Sunflowerseed Oil, Soybean South America Oil Production 1,549 11,519 12,51 13,243 13,763 14,697 Oil Consumption 5,22 5,47 5,24 5,285 5,643 5,8 Oil Imports Oil, Sunflowerseed Oil, Soybean United States Oil Production 9,59 9,645 9,184 8,767 9,75 9,719 Oil Consumption 9,714 1,56 9,895 1,57 1,327 1,552 Oil Imports 1,683 1,617 1,54 1,94 1,76 1,816 Oil, Sunflowerseed Oil, Soybean World s Oil Production 9,32 92,877 95,8 11,673 19,82 113,518 Oil Consumption 88,991 92,16 95,841 1,69 17, ,94 Oil Imports 3,414 31,838 35,293 36,746 4,253 42,812 Oil, Palm 16,336 17,89 19,773 2,984 23,66 24,87 Oil, Soybean 7,128 8,24 8,513 8,349 9,156 9,972 Oil, Sunflowerseed 2,6 1,822 2,7 2,11 2,135 2,366 Oil, Rapeseed 1,232 1, ,268 1,14 1,368 Note: Production is oil processed from domestic and/or imported oilseeds, plus oil from other domestic sources (E.G. Palm Oil, Fish Oil). Animal fats are not included. Consumption data may include year-to-year adjustments in cases where stock data are not available or are not reliable. s are for all countries included in the table. Source: Counselor and Attache Reports Page 13 of 28 September 25 Circular

14 Table 1 United States: Oilseeds and Products Supply and Distribution Local Marketing Year (Thousand Metric Tons) Major OIlseeds Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/1994 3,132 59, ,524 39, ,619 45,784 6, / ,183 79, ,865 43, ,816 52,721 1, / ,536 69, ,872 42, ,366 49,842 6, / ,555 74, ,746 44, ,944 52, 4, / ,351 83, ,519 48, ,614 57,455 6, / ,275 84, ,721 47, ,22 57,993 1, /2 37,149 82, ,395 47,891 1,13 8,57 57,474 8,985 2/21 36,85 84, ,976 49, ,841 58,897 7,82 21/22 37,323 89, ,966 5,622 1,9 9,835 61,466 6,873 22/23 36,284 83, ,433 47,495 1,17 7,578 56,9 5,835 23/24 36,41 76, ,158 45,519 1,114 6,994 53,627 4,152 24/25 36,88 96, ,645 5,295 1,179 9,787 61,261 9,355 25/26 36,874 89, ,35 5,326 1,26 9,379 6,965 7,97 Major Protein Meals Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/1994 3,284 1,24 5,211 26,12 26, / , ,468 27,57 27, / ,294 1,48 5,765 27,587 27, / ,772 1,25 6,75 28,115 28, / ,422 1,355 8,958 29,749 29, / ,799 1,26 7,234 3,737 3, /2 36,7 1,224 7,138 3,822 3, /21 38,219 1,166 7,65 31,681 31, /22 38,891 1,59 7,521 32,54 32, /23 36,68 1,188 5,924 31,912 31, /24 35,214 1,834 4,943 32,77 32, /25 39,124 1,366 6,885 33,567 33, /26 38,794 1,55 6,66 34,246 34, Major Vegetable and Marine Oils Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/1994 7,382 1,345 1,93 7, , /1995 8,486 1,294 1,953 7, , /1996 8,169 1, , ,59 1, /1997 8,333 1,553 1,515 8, , /1998 9,55 1,644 2,44 8, , /1999 9,43 1,435 1,639 8, , /2 9,371 1,528 1,134 9, ,547 1,217 2/21 9,59 1,683 1,48 9, ,714 1,647 21/22 9,645 1,617 1,548 9, ,56 1,35 22/23 9,184 1,54 1,245 9, , /24 8,767 1, , , /25 9,75 1, , ,327 1,71 25/26 9,719 1,816 1,17 1, ,552 1,37 Source: Counselor and Attache Reports Page 14 of 28 September 25 Circular

15 Table 11 United States: Soybean and Products Supply and Distribution Local Marketing Year (Thousand Metric Tons) Soybean Oilseed Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/ ,191 5, ,6 34,716 2,62 37,318 5, / ,69 68, ,867 38,242 4,63 42,35 9, / ,96 59, ,18 37,273 3,33 4,36 4, / ,637 64, ,11 39,8 3,237 42,317 3, / ,968 73, ,76 43,464 4,237 47,71 5, / ,57 74, ,898 43,262 5,474 48,736 9, /2 29,318 72, ,537 42,927 4,461 47,388 7,897 2/21 29,33 75, ,13 44,625 4,578 49,23 6,743 21/22 29,532 78, ,948 46,259 4,68 5,867 5,663 22/23 29,339 75, ,423 43,948 3,576 47,524 4,853 23/24 29,33 66, ,128 41,622 2,973 44,595 3,59 24/25 29,93 85, ,81 46,267 4,582 5,849 8,29 25/26 29,212 77, ,345 45,858 4,95 49,953 5,579 Soybean Meal Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/ , ,972 22,822 22, /1995 3, ,25 23,968 23, / , ,524 24,62 24, / , ,451 24,678 24, / , ,722 25,955 25, / , ,979 27,294 27, /2 34, ,912 27,269 27, /21 35, ,335 28,359 28, /22 36, ,271 29,541 29, /23 34, ,728 29,9 29,9 2 23/24 32, ,69 28,53 28, /25 36, ,623 3,3 3, /26 36, ,86 3,78 3, Soybean Oil Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/1994 6, ,869 5, /1995 7,82 8 1,217 5,857 5, /1996 6, ,18 6, /1997 7, ,471 6, /1998 8, ,397 6,922 6, /1999 8, ,76 7,11 7, /2 8, ,283 7, /21 8, ,41 7,41 1,255 21/22 8, ,143 7,635 7,635 1,7 22/23 8, ,27 7,748 7, /24 7, ,65 7, /25 8, ,847 7, /26 8, ,6 8,6 731 Source: Counselor and Attache Reports Page 15 of 28 September 25 Circular

16 Table 12 Argentina: Soybean and Products Supply and Distribution Local Marketing Year (Thousand Metric Tons) Soybean Oilseed Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/1994 5,4 12,4 2,957 8, , /1995 5,7 12,5 2,614 9, , /1996 5,98 12,43 1 2,14 9, , /1997 6,2 11, , , /1998 6,954 19,5 1,25 3,231 16, , /1999 8,165 2, 79 3,4 17, , /2 8,583 21,2 4 4,1 16,5 1 1,2 17, /21 1,4 27,8 42 7,475 19,5 1 1,21 2, /22 11,4 3, 675 6,243 22,39 1 1,278 23, /23 12,6 35,5 4 8,91 24, ,523 26,256 1,63 23/24 14, 33, 54 6,5 25,72 1 1,542 26,624 2,46 24/25 14,4 39, 53 9,311 26,8 1 1,785 28,595 3,67 25/26 14,7 39, 485 9,8 28,5 1 2, 3,51 2,845 Soybean Meal Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/1994 7,47 6, /1995 7,563 7, /1996 7,95 7, /1997 8,35 8, / ,4 12, / ,5 13, /2 13,125 13, /21 15,5 15, /22 17,65 17, /23 19,486 19, /24 19,87 19, /25 21,172 2, /26 22,515 21, Soybean Oil Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/1994 1,58 1, /1995 1,65 1, /1996 1,717 1, /1997 1,96 1, /1998 2,97 2, /1999 3,15 3, /2 3,3 2, /21 3,625 3, /22 4,125 3, /23 4,554 4, /24 4,513 4, /25 4,824 4, /26 5,13 5, Source: Counselor and Attache Reports Page 16 of 28 September 25 Circular

17 Table 13 Argentina: Sunflowerseed and Products Supply and Distribution Local Marketing Year (Thousand Metric Tons) Sunflowerseed Oilseed Year Area Production 1993/1994 2,7 3, /1995 2,8 5,9 1995/1996 3,2 5,6 1996/1997 2,9 5,4 1997/1998 3,331 5,5 1998/1999 3,99 7,1 1999/2 3,477 6, 2/21 1,886 3,5 21/22 2,15 3,844 22/23 2,35 3,7 23/24 1,83 3,24 24/25 1,89 3,6 25/26 2,25 3,9 Sunflowerseed Meal Year Area Production 1993/1994 1, /1995 2, /1996 2,1 1996/1997 2, /1998 2, /1999 2, /2 2,16 2/21 1,435 21/22 1,427 22/23 1,257 23/24 1,265 24/25 1,446 25/26 1,53 Sunflowerseed Oil Year Area Production 1993/1994 1, /1995 1, /1996 2, 1996/1997 2,7 1997/1998 1, /1999 2, /2 2,14 2/21 1,44 21/22 1,415 22/23 1,294 23/24 1,265 24/25 1,445 25/26 1,525 Imports Imports Imports Exports Crush Food Use Industrial Use Feed Seed and Waste Consumption 58 3,24 5 3, , , , 6 5,6 1 5, , , , , , ,2 6 5, , , ,4 47 3, , , , , , , , ,715 Exports Crush Food Use Industrial Use Feed Seed and Waste Consumption 1, , , , , , , , , , , Exports Crush Food Use Industrial Use Feed Seed and Waste Consumption , , , , , , , , , Ending Stocks Ending Stocks Ending Stocks Source: Counselor and Attache Reports Page 17 of 28 September 25 Circular

18 Table 14 Brazil: Soybean and Products Supply and Distribution Local Marketing Year (Thousand Metric Tons) Soybean Oilseed Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/ ,44 24,7 9 5,395 18,736 1,651 2, / ,68 25,9 9 3,492 21,599 1,65 23, /1996 1,95 24,15 1,3 3,633 2,83 1,548 21, / ,8 27,3 1,45 8,327 18,944 1,714 2, / , 32, ,325 21,832 1,754 23, / ,9 31, ,912 21,645 1,778 23, /2 13,6 34, ,779 21,578 1,924 23, /21 13,934 39, ,521 22,773 2,219 24, /22 16,35 43,5 1,1 16,74 25,843 2,459 28, /23 18,448 52, 1,124 19,987 27,796 2,893 3,689 3,129 23/24 21,475 5, ,571 29,172 3,15 32,322 2,86 24/25 22,8 51, 47 2,3 29, 3,322 32, /26 23, 6, 2 23,2 31,583 3,575 35,158 2,776 Soybean Meal Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/ ,726 1,519 4,299 4, / ,977 11,471 5,3 5, / , ,9 5,3 5, / , ,8 5,4 5, / , ,85 6,535 6, / , 175 1,15 6,9 6, /2 16,9 12 9,875 7,125 7, /21 17, ,852 7,194 7, /22 2, ,825 7,8 7, /23 21, ,222 8,75 8, /24 22, ,567 8,784 8, /25 22, ,334 8,95 8, /26 24, ,342 9,45 9,45 45 Soybean Oil Industrial Feed Seed Ending Year Area Production Imports Exports Crush Food Use Use and Waste Consumption Stocks 1993/1994 3, ,556 2, , /1995 4, ,643 2, , /1996 3, ,32 2, , /1997 3, ,75 2, , /1998 3, ,418 2, , /1999 3, ,463 2, , /2 3, ,135 2, , /21 4, ,62 2, , /22 4, ,1 2, , /23 5, ,41 2, , /24 5, ,655 2, , /25 5,22 4 2,448 2, , /26 5, ,775 2, ,92 15 Source: Counselor and Attache Reports Page 18 of 28 September 25 Circular

19 Production Table 15 European Union Oilseeds and Products Supply and Distribution (Thousand Metric Tons) August September August September 21/2 22/3 23/4 24/5 24/5 25/6 25/6 Rapeseed 11,483 11,652 11,174 15,29 15,29 14,34 14,84 Sunflowerseed 3,836 3,713 4,35 4,181 4,181 3,515 3,515 Soybean 1, Cottonseed Other 1/ 17,46 16,95 16,439 21,14 21,14 19,317 19,832 Consumption Soybean 33,6 33,26 32,641 33,66 33,88 34,33 34,44 Rapeseed 6,37 6,239 6,15 7,66 7,66 7,673 8, Sunflowerseed 3,935 4,1 4,57 4,245 4,17 4,428 4,428 PalmKernel 2,372 2,614 2,66 2,73 3,28 2,83 3,128 Corn Glutten Feed/Meal 4/ 4,995 4,497 3,977 3,35 3,35 3,1 3,1 Other 7,27 6,269 5,48 4,75 4,75 4,497 4,497 1/ 5/ 52,377 52,248 51,375 52,91 53,371 53,731 54,493 SME 2/ 47,472 47,372 46,666 47,929 48,189 48,75 49,29 Oil Consumption Rapeseed 4,55 4,115 4,388 5,22 5,21 5,288 5,49 Palm 2,98 2,94 3,235 3,78 4,8 4,31 4,41 Sunflowerseed 2,333 2,247 2,327 2,375 2,295 2,575 2,575 Soybean 2,256 2,276 2,34 1,993 2,33 1,964 2,14 Olive 1,874 1,93 1,934 1,946 1,946 1,791 1,791 Other 1,614 1,633 1,55 1,62 1,647 1,621 1,676 1/ 15,4 15,78 15,468 16,826 17,13 17,549 17,956 Imports 3/ Meal, Soybean 19,691 2,361 21,911 22,75 22,75 23,3 23,3 Oilseed, Soybean 18,539 16,872 14,638 14,959 15,3 15,2 15,35 Oil, Palm 2,978 3,5 3,3 3,8 4,1 4,4 4,5 Exports 3/ Oil, Soybean Meal, Soybean Oilseed, Rapeseed / An Aggregate of Different Marketing Years 2/ 44-Percent Soybean Meal Equivalent, Including Corn Gluten Feed/Meal 3/ Data on Local Marketing Years 4/ Based on EC Import Data Only 5/ Corn Gluten feed/meal Not Included Source: Counselor and Attache Reports Page 19 of 28 September 25 Circular

20 Production Table 16 Russian Federation Oilseeds and Products Supply and Distribution (Thousand Metric Tons) August September August September 21/2 22/3 23/4 24/5 24/5 25/6 25/6 Sunflowerseed 2,67 3,685 4,85 4,75 4,75 5,1 5,1 Soybean Rapeseed Other 1/ 3,16 4,223 5,435 5,32 5,581 5,77 5,95 Consumption Sunflowerseed 938 1,98 1,82 1,245 1,245 1,26 1,275 Soybean Fish Rapeseed Other 1/ 1,823 1,959 1,974 2,231 2,358 2,273 2,315 SME 2/ 1,846 1,964 1,96 2,211 2,325 2,254 2,285 Oil Consumption Sunflowerseed 1,195 1,399 1,62 1,725 1,73 1,91 1,88 Palm Soybean Rapeseed Cottonseed Other 1/ 2,191 2,9 2,235 2,479 2,59 2,753 2,734 Imports 3/ Oil, Palm Meal, Soybean Oilseed, Peanut Exports 3/ Meal, Sunflowerseed Oilseed, Sunflowerseed Oil, Sunflowerseed / An Aggregate of Different Marketing Years 2/ 44-Percent Soybean Meal Equivalent, Including Corn Gluten Feed/Meal 3/ Data on Local Marketing Years Source: Counselor and Attache Reports Page 2 of 28 September 25 Circular

21 Production Table 17 China Oilseeds and Products Supply and Distribution (Thousand Metric Tons) August September August September 21/2 22/3 23/4 24/5 24/5 25/6 25/6 Soybean 15,41 16,51 15,394 18, 18, 17, 17, Peanut 14,415 14,818 13,42 14,34 14,34 14,7 14,7 Rapeseed 11,331 1,552 11,42 13,182 13,182 11,4 11,4 Cottonseed 9,56 8,85 8,87 11,5 11,5 1,2 1, Other 1,478 1,946 1,743 1,69 1,69 1,78 1,78 1/ 52,194 52,676 5,847 58,712 58,712 55,8 54,88 Consumption Soybean 15,24 2,152 19,542 22,852 23,19 25,95 26,65 Rapeseed 6,983 6,123 7,68 8,99 8,99 7,526 7,542 Cottonseed 3,182 2,947 3,46 3,678 3,678 3,377 3,377 Peanut 2,644 2,794 2,733 2,685 2,685 2,864 2,864 Fish 1,456 1,199 1,521 1,415 1,615 1,525 1,695 Other / 29,824 33,697 34,354 39,133 39,671 41,667 42,553 SME 2/ 28,162 32,225 32,728 37,39 37,666 39,863 4,82 Oil Consumption Soybean 4,137 6,389 7,174 7,361 7,25 8,571 8,492 Palm 2,47 3,525 3,71 4,3 4,35 4,7 4,7 Rapeseed 4,213 3,658 4,363 4,841 4,89 4,642 4,649 Peanut 2,149 2,242 2,1 2,177 2,172 2,349 2,349 Cottonseed 1,116 1,9 1,24 1,284 1,284 1,159 1,159 Other / 14,545 17,48 18,964 2,533 2,46 22,157 22,115 Imports 3/ Oilseed, Soybean 1,385 21,417 16,933 24, 25, 27, 27, Oil, Palm 2,475 3,531 3,71 4,3 4,35 4,7 4,7 Oil, Soybean 551 1,712 2,729 1,96 1,8 2,6 2,4 Exports 3/ Oilseed, Peanut 96 1, , 1, 1,3 1,3 Meal, Soybean 1, Oilseed, Soybean / An Aggregate of Different Marketing Years 2/ 44-Percent Soybean Meal Equivalent, Including Corn Gluten Feed/Meal 3/ Data on Local Marketing Years Source: Counselor and Attache Reports Page 21 of 28 September 25 Circular

22 Production Table 18 India Oilseeds and Products Supply and Distribution (Thousand Metric Tons) August September August September 21/2 22/3 23/4 24/5 24/5 25/6 25/6 Cottonseed 5,1 4,4 5,859 7,9 8, 7,2 7,8 Peanut 7,6 5,4 7,7 6,8 6,8 7, 7, Soybean 5,4 4, 6,8 5,5 5,5 6,5 6,5 Rapeseed 4,5 4,5 6,8 7, 7, 6,4 6,4 Other 2,187 2,337 2,438 2,498 2,498 2,598 2,598 1/ 24,787 2,187 29,597 29,698 29,798 29,698 3,298 Consumption Rapeseed 1,811 1,539 2,533 2,681 2,681 2,652 2,652 Cottonseed 1,798 1,599 1,98 2,617 2,654 2,484 2,622 Soybean 1,248 1,52 1,122 1,8 1,8 2,31 2,31 Peanut 2,135 1,66 1,964 1,995 1,995 2,52 2,52 Sunflowerseed Other / 7,77 7,92 8,53 1,26 1,63 1,434 1,572 SME 2/ 7,4 6,371 7,443 8,8 8,83 9,248 9,36 Oil Consumption Palm 3,5 4,1 3,671 3,715 3,685 3,75 3,768 Soybean 2,387 1,946 1,782 2,4 2,675 2,635 2,98 Rapeseed 1,556 1,48 2,165 2,31 2,31 2,212 2,212 Peanut 1,861 1,416 1,747 1,656 1,656 1,736 1,736 Cottonseed Other 1,172 1,28 1,28 1,248 1,223 1,289 1,257 1/ 11,33 1,729 11,258 12,141 12,371 12,44 12,777 Imports 3/ Oil, Palm 3,4 3,95 3,55 3,75 3,75 3,7 3,75 Oil, Soybean 1,55 1, ,6 1,9 1,65 2, Oil, Palm Kernel Exports 3/ Meal, Soybean 2,45 1,225 3,31 1,95 1,95 2,1 2,1 Meal, Rapeseed Meal, Cottonseed / An Aggregate of Different Marketing Years 2/ 44-Percent Soybean Meal Equivalent, Including Corn Gluten Feed/Meal 3/ Data on Local Marketing Years Source: Counselor and Attache Reports Page 22 of 28 September 25 Circular

23 TABLE 19 MALAYSIA: PALM OIL SUPPLY AND DISTRIBUTION (1, METRIC TONS) BEGINNING ENDING YEAR STOCKS PRODUCTION 1/ EXPORTS 6/ CONSUMPTION 2/ STOCKS 1988/ ,636 4, / ,412 5, / ,33 5, / ,222 5,552 1, / ,125 5,74 1,274 1, /94 1,26 7,1 6,5 1, / ,771 6,634 1, / ,264 6,66 1, / ,5 7,544 1, / ,58 7,421 1, /99 OCT-DEC 2,149 1,794 JAN-MAR 1,771 1,561 APR-JUN 2,865 2,15 JUL-SEP 2,973 2, ,758 8,1 1,459 1, /2 OCT-DEC 2,943 2,52 JAN-MAR 2,225 2,3 APR-JUN 2,415 1,875 JUL-SEP 2,98 2,5 1,28 1,491 8,845 1,566 1,368 2/21 OCT-DEC 3,29 2,567 JAN-MAR 2,836 2,562 APR-JUN 2,832 2,557 JUL-SEP 2,979 2,337 1,368 11,937 1,475 1,675 1,216 21/22 OCT-DEC 3,155 2,647 JAN-MAR 2,63 2,238 APR-JUN 2,732 2,651 JUL-SEP 3,368 2,629 1,216 11,858 1,5 1,742 1,149 22/23 OCT-DEC 3,26 2,925 JAN-MAR 2,614 2,45 APR-JUN 3,482 3,68 JUL-SEP 3,879 3,596 1,149 13,18 11,65 2, /24 OCT-DEC 3,38 3,4 JAN-MAR 2,68 2,591 APR-JUN 3,279 2,715 JUL-SEP 4,81 3,59 4/ ,42 11,765 1,963 1,332 24/25 OCT-DEC 3,936 3,41 JAN-MAR 3,417 3,128 APR-JUN 3,753 3,44 JUL-SEP 4,1 3,4 5/ 1,332 15,2 13,3 2,432 1,3 1/S ARE BASED ON AN OCTOBER-SEPTEMBER BASIS. 2/ UTILIZATION INCLUDES EXPORTS OF FURTHER PROCESSED PRODUCTS AND REFINING LOSSES AND THEREFORE IS HIGHER THAN THE ACTUAL LEVEL. 3/ QUARTERLY EXPORT DATA MAY NOT ADD TO YEAR BECAUSE QUARTERLY IMPORT DATA IS NOT AVAILABLE. 4/ PRELIMINARY 5/ FORECAST 6/ NET EXPORTS: EXCLUDING PALM AND FATTY ACID DISTILLATES. SOURCE: COUNSELOR AND ATTACHE REPORTS, OFFICIAL STATISTICS, USDA ESTIMATES. September-5 FOREIGN AGRICULTURAL SERVICE COTTON, OILSEEDS, TOBACCO and SEEDS DIVISION

24 PRICES Table 2. Oilseed Prices (U.S. Dollars Per Metric Ton) Year Soybeans Peanut Sunflow erseed Rapeseed Copra Linseed Beg. U.S. U.S. Brazil Arg Rott U.S. Rott U.S. Rott Hamb Rott Rott Oct. 1 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 1/ 11/ 12/ Oct.-Sept. Avg 93/94-2/ / / / / / / / 173 2/ / / /4 Oct. 243 Nov 259 Dec 263 Jan. 27 Feb. 34 Mar. 341 Apr. 353 May 351 Jun. 334 Jul. 311 Aug. 251 Sep NA Average /5 OCT. 24 NOV 197 DEC 2 JAN. 25 FEB. 199 MAR. 219 APR. 222 MAY 228 JUN. 242 JUL. 244 *AUG. 224 SEP AVERAGE / U.S. farm price; USDA. 2/ U.S. No.1 yellow cash central Illinois; Wall Street Journal. 3/ Rio Grande, Brazil FOB; Safras and Mercado. or FOB Paranagua Reuters 4/ Argentina FOB B.Aires; Safras and Mercado. or FOB up river; Reuters 5/ Rotterdam CIF; various sources; Oil World. 6/ U.S. farm price inshell USDA. 7/ Rott CIF; US Runners 4/5%, Shelled Basis, Oil World. 8/ U.S. farm price; USDA. 9/ Rotterdam CIF; EC low er Rhine (Beginning Sep 93) U.S./Canada Prior; Oil World. 1/Hamburg CIF; Europe "" Oil; Oil World. 11/ Rotterdam CIF; Phillipines/Indonesia; Oil World 12/ Rotterdam CIF; Canada No.1; Oil World. DATE: SEPTEMBER 25 Cotton, Oilseeds, Tobacco,and Seeds Division Page 24 of 28 September 25 Circular