Palm and Soy Oil Use Expands at Expense of Other Oils

Transcription

1 United States Department of Agriculture Foreign Agricultural Service September 2015 Revised on September 15, 2015 Palm and Soy Oil Use Expands at Expense of Other Oils As global demand for vegetable oil grows, an increasing proportion of food use is being satisfied by palm and soy oil. These two oils now account for nearly twothirds of food oil consumption. Oil palm plantations have expanded over the past several years, especially in Indonesia and Malaysia. As a result, an ever-increasing quantity of palm oil is being supplied to the global market. Likewise, record 2014/15 soybean production in both the United States and South America ensures ample supplies and growing availability of soy oil. Meanwhile, significant declines in rapeseed, sunflowerseed, and cottonseed production are limiting supplies of these oils and encouraging a switch to palm and soy. Price relationships among the various oils are also impacting purchasing decisions. Premiums for rapeseed, sunflowerseed, and cottonseed oils have increased in recent months reflecting tighter supplies. Consequently, price-sensitive buyers are switching to soy oil as a cheaper alternative soft oil. Palm oil remains the lowestpriced oil, though its discount to soy has narrowed in recent months. For an subscription, click here to register: Approved by the World Agricultural Outlook Board/USDA

2 Subject Line: World Agricultural Supply and Demand Estimates: Minor Revision to Soybean Oil Stocks in Uruguay Impacting the Reported World Total. September 15, 2015 USDA has updated the September World Agricultural Supply and Demand Estimates (WASDE) World Soybean Oil Supply and Use table (page 30) to reflect a correction in data for Uruguay soybean oil beginning stocks, which impacts the reported world total soybean oil beginning stocks, domestic total use, and ending stocks. This correction is also reflected in the World and Foreign vegetable oils balances that appear in the World and U.S. Supply and Use for Oilseeds table (page 10). At the same time, USDA has updated the September Oilseeds: World Markets and Trade and PSD Online Database. Minor revisions to soybean oil stocks in Uruguay impacts reported totals in Table 3: Major Vegetable Oils and Table 9: Soybean Oil. REVISED PSD: September 15, 2015 Oil, Soybean Uruguay 2008/ / / / / / /15 Crush Extr. Rate, Beginning Stocks Production MY Total Supply MY Exports MY Exp. to EU Industrial Dom. Cons Food Use Dom. Cons Feed Waste Dom. Cons Total Dom. Cons Ending Stocks Total Distribution

3 ORIGINAL PSD: September 11, 2015 Oil, Soybean Uruguay 2008/ / / / / / /15 Crush Extr. Rate, Beginning Stocks Production MY Total Supply MY Exports MY Exp. to EU Industrial Dom. Cons Food Use Dom. Cons Feed Waste Dom. Cons Total Dom. Cons Ending Stocks Total Distribution DIFFERENCES Oil, Soybean Uruguay 2008/ / / / / / /15 Crush Extr. Rate, Beginning Stocks (10) (24) (20) Production MY Total Supply (10) (24) (20) MY Exports MY Exp. to EU Industrial Dom. Cons (6) (2) (2) Food Use Dom. Cons. (22) (43) (71) (100) (120) (140) (191) (225) Feed Waste Dom. Cons Total Dom. Cons. (22) (43) (71) (100) (120) (146) (193) (227) Ending Stocks (10) (24) (20) (41) Total Distribution (22) (43) (71) (100) (130) (170) (213) (268)

4 OVERVIEW Global soybean production is reduced this month as lower production in Canada and Ukraine is only partially offset by a higher U.S. production forecast. Trade is lowered this month due to a reduction in Ukraine s exportable supplies. However, global exports remain at a record level. Global stocks are reduced, reflecting a lower production and carry-over from last year forecast. The U.S. seasonaverage farm price is unchanged. 2014/15 Global soybean production is unchanged this month. Exports are raised on larger shipments from Brazil and Ukraine. Ending stocks are reduced in response to growing consumption and trade. SOYBEAN PRICES U.S. export bids, FOB Gulf, in August averaged $375/ton, down $29 from last month, reflecting a higherthan-expected production estimate for the new crop. As of the week ending September 3, U.S. 2014/15 soybean commitments (outstanding sales plus accumulated exports) to China totaled 29.6 million tons compared to 27.9 million a year ago. Total commitments to the world are 50.6 million tons, compared to 45.9 million for the same period last year. As of the week ending September 3, U.S. soybean commitments (outstanding sales plus accumulated exports) to China totaled 6.1 million tons, compared to 13.3 million a year ago. Total commitments to the world are 16.1 million tons, compared to 24.0 million for the same period last year. 2014/15 TRADE OUTLOOK United States o Soybean meal exports are up 363,000 tons to 11.8 million. o Soybean oil exports are raised 272,000 tons to 930,000. o Rapeseed meal imports are up 136,000 tons to 3.6 million. Argentina o Soybean meal exports are up 650,000 tons to 28.5 million on expanding crush and stronger demand as prices decline. o Soybean oil exports are raised 225,000 tons to 4.9 million reflecting a strong pace of trade and growing vegetable oil demand mainly in India.

5 Brazil o Soybean exports are up 200,000 tons to 50.0 million on a stronger pace of trade to date, encouraged by a weak real and growing sales to China. o Soybean meal exports are down 300,000 tons to 14.7 million, reflecting the current pace of trade and slowing crush. o Soybean oil exports are raised 110,000 tons to 1.5 million on strong August shipments. Canada rapeseed exports are up 407,000 tons to 9.2 million following the release of final marketing year trade statistics. China o Rapeseed imports are raised 100,000 tons to 4.6 million based on strong end-of-season purchases. o Palm oil imports are up 150,000 tons to 5.5 million on large purchases at the end of the current marketing year. Cuba soybean meal imports are raised 160,000 tons to 480,000 on a stronger pace of trade. India o Peanut exports are up 200,000 tons to 775,000 reflecting larger shipments to Southeast Asia. o Soybean oil imports are raised 150,000 tons to 2.7 million on near-record July shipments. o Palm oil imports are raised 150,000 tons to 9.4 million on large shipments. Nigeria soybean meal imports are up 105,000 tons to 130,000 based on stronger pace of trade and growing demand for protein feed. Pakistan soybean imports are reduced 100,000 tons to 350,000, while soybean meal imports are up 150,000 tons to 900,000 as crush expansion is more moderate than anticipated. Turkey soybean imports are raised 100,000 tons to 2.1 million on a stronger pace of trade towards the end of the marketing year. Ukraine soybean exports are up 100,000 tons to 2.4 million and sunflowerseed oil exports are raised 150,000 tons to 3.9 million, both reflecting a stronger export pace in the latter months of the marketing year. Uruguay soybean meal imports are up 100,000 tons to 240,000 on early marketing year trade to date. Vietnam soybean meal imports are raised 450,000 tons to 4.2 million reflecting recent strong purchases from Argentina. TRADE OUTLOOK United States rapeseed meal imports are raised 211,000 tons to 3.4 million. Argentina soybean oil exports are up 100,000 tons to 5.2 million reflecting growing crush and larger exportable supplies. Canada rapeseed meal exports are up 100,000 tons to 3.5 million reflecting a larger crush forecast. Cuba soybean meal imports are up 160,000 tons to 500,000 reflecting growing demand for protein feed. European Union sunflowerseed exports are reduced 100,000 tons to 400,000 on lower domestic production. India palm oil imports are raised 150,000 tons to 9.9 million on growing oil demand. Moldova sunflowerseed exports are slashed 100,000 tons to 140,000 on a lower production forecast.

6 Nigeria soybean meal imports are up 125,000 tons to 150,000 reflecting growing demand for protein feed. Pakistan soybean meal imports are up 200,000 tons to 900,000 while soybean imports are down 150,000 tons to 850,000 as meal trade remains profitable despite higher tariffs. Turkey o Sunflowerseed imports are down 150,000 tons to 400,000 reflecting lower exportable supplies, primarily in the EU. o Palm oil imports are raised 150,000 tons to 800,000 on lower availability of sunflowerseed oil, both domestically produced and imported. Ukraine soybean exports are down 650,000 tons to 2.4 million following a lower production forecast. Uruguay soybean meal imports are up 100,000 tons to 250,000 on expected demand. Vietnam soybean meal imports are raised 350,000 tons to 4.6 million reflecting continued strong growth in feed demand. Questions may be directed to: Bill George (202) Bill.George@fas.usda.gov Rachel Trego (202) Rachel.Trego@fas.usda.gov Agata Kingsbury (202) Agata.Kingsbury@fas.usda.gov 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):

7 Other USDA Reports: World Agricultural Supply and Demand Estimates (WASDE): Economic Research Service: National Agricultural Statistics Service:

8 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

9 Table 01: Major Oilseeds: World Supply and Distribution (Commodity View) Million Metric Tons 2011/ / / /15 Aug Sep 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

10 Table 02: Major Protein Meals: World Supply and Distribution (Commodity View) Million Metric Tons 2011/ / / /15 Aug Sep 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

11 Table 03: Major Vegetable Oils: World Supply and Distribution (Commodity View) Million Metric Tons 2011/ / / /15 Aug Sep 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

12 Table 04: Major Oilseeds: World Supply and Distribution (Country View) Million Metric Tons 2011/ / / /15 Aug Sep 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.

13 Table 05: Major Protein Meals: World Supply and Distribution (Country View) Million Metric Tons 2011/ / / /15 Aug Sep Production China United States Argentina Brazil European Union Other Total European Union Vietnam Indonesia United States Korea, South Thailand Philippines Other Total Exports Argentina Brazil United States Indonesia Ukraine Canada India 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 India Other Total Major Protein Meals include Copra, Cottonseed, Fish, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflower Meal.

14 Table 06: Major Vegetable Oils: World Supply and Distribution (Country View) Million Metric Tons 2011/ / / /15 Aug Sep 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 Mexico Egypt 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.

15 Table 07: Soybeans: World Supply and Distribution Thousand Metric Tons 2011/ / / /15 Aug Sep Production United States 84,291 82,791 91, , , ,101 Brazil 66,500 82,000 86,700 94,500 97,000 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 9,800 11,500 11,500 Paraguay 4,043 8,202 8,190 8,400 8,800 8,800 Canada 4,467 5,086 5,359 6,049 6,200 5,950 Other 14,841 16,195 16,307 19,453 21,461 20,761 Total 240, , , , , ,612 China 59,231 59,865 70,364 77,000 79,000 79,000 European Union 12,070 12,538 12,985 13,450 13,500 13,500 Mexico 3,606 3,409 3,842 4,025 4,050 4,050 Japan 2,759 2,830 2,894 2,900 2,850 2,850 Taiwan 2,285 2,286 2,335 2,350 2,380 2,380 Indonesia 1,922 1,795 2,241 2,150 2,300 2,300 Thailand 1,907 1,867 1,798 2,075 2,100 2,100 Turkey 1,057 1,249 1,608 2,050 2,100 2,100 Egypt 1,649 1,730 1,694 1,880 1,950 1,950 Russia ,931 1,900 1,900 1,900 Other 6,242 7,666 9,592 10,040 11,171 11,086 Total 93,469 95, , , , ,216 Exports Brazil 36,257 41,904 46,829 50,000 54,500 54,500 United States 37,186 36,129 44,574 49,940 46,947 46,947 Argentina 7,368 7,738 7,842 9,600 9,750 9,750 Paraguay 3,574 5,518 4,800 4,600 4,600 4,600 Canada 2,933 3,470 3,471 3,775 3,825 3,825 Other 4,869 6,053 5,124 6,965 7,558 6,858 Crush Total 92, , , , , ,480 China 60,970 64,950 68,850 74,200 79,500 79,500 United States 46,348 45,967 47,192 50,893 50,621 50,893 Argentina 35,886 33,611 36,173 39,475 41,500 41,500 Brazil 38,083 35,235 36,861 39,400 39,550 39,550 European Union 12,414 13,162 13,436 13,900 14,500 14,500 India 9,650 9,900 8,300 7,400 9,100 9,100 Mexico 3,675 3,650 4,030 4,275 4,350 4,350 Paraguay 900 2,950 3,350 3,700 4,100 4,100 Russia 2,300 2,400 3,300 3,850 3,950 3,950 Bolivia 2,000 2,175 2,250 2,300 2,420 2,420 Taiwan 2,020 1,920 1,925 1,970 2,000 2,000 Japan 1,960 1,915 1,969 2,050 1,970 1,970 Egypt 1,620 1,710 1,680 1,850 1,950 1,950 Canada 1,411 1,550 1,537 1,700 1,700 1,700 Thailand 1,750 1,500 1,500 1,600 1,700 1,700 Other 7,386 7,572 8,728 11,075 12,695 12,605 Total 228, , , , , ,788 Ending Stocks Argentina 15,949 20,962 26,050 32,775 34,102 33,427 Brazil 13,024 15,330 15,945 18,170 18,300 18,150 China 15,909 12,378 14,427 17,552 16,152 16,152 United States 4,610 3,825 2,504 5,714 12,783 12,258 India 800 1, Other 3,613 2,537 3,172 3,707 4,711 4,158 Total 53,905 56,167 62,704 78,726 86,881 84,978 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.

16 Table 08: Soybean Meal: World Supply and Distribution Thousand Metric Tons 2011/ / / /15 Aug Sep Production China 48,288 51,440 54,531 58,770 62,960 62,960 United States 37,217 36,174 36,909 40,687 40,120 40,302 Argentina 27,945 26,089 27,892 30,400 32,180 32,180 Brazil 29,510 27,310 28,540 30,500 30,610 30,610 European Union 9,668 10,398 10,614 10,980 11,455 11,455 India 7,720 7,920 6,640 5,920 7,280 7,280 Mexico 2,910 2,890 3,185 3,380 3,435 3,435 Other 17,219 19,012 21,061 24,121 26,069 25,994 Total 180, , , , , ,216 European Union 20,872 16,941 18,175 19,550 20,300 20,300 Indonesia 3,278 3,367 3,983 4,250 4,700 4,700 Vietnam 2,276 2,980 3,342 4,200 4,250 4,600 Thailand 2,928 2,874 2,665 3,000 3,050 3,050 Philippines 1,833 1,969 2,337 2,500 2,650 2,650 Iran 2,192 2,099 2,683 2,150 2,100 2,100 Japan 2,282 1,765 1,976 1,750 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 19,193 18,992 19,812 Total 56,978 53,828 57,857 61,443 62,967 64,137 Exports Argentina 26,043 23,667 24,972 28,500 30,200 30,200 Brazil 14,678 13,242 13,948 14,700 15,200 15,200 United States 8,845 10,111 10,474 11,839 10,569 10,569 Paraguay 523 2,149 2,504 2,550 2,980 2,980 India 4,391 4,354 2,742 1,125 2,025 2,025 Other 3,794 4,383 5,387 5,286 5,239 5,259 Total 58,274 57,906 60,027 64,000 66,213 66,233 China 47,435 50,091 52,534 57,130 61,380 61,380 European Union 29,670 27,122 28,442 30,042 31,342 31,392 United States 28,614 26,308 26,804 29,121 29,846 30,028 Brazil 14,100 14,200 14,650 15,250 15,400 15,400 Vietnam 3,300 3,700 4,200 5,100 5,250 5,650 India 3,280 3,490 4,050 4,685 5,255 5,255 Mexico 4,370 4,250 4,675 5,010 5,200 5,200 Indonesia 3,218 3,430 3,900 4,250 4,700 4,700 Thailand 4,153 4,100 3,980 4,200 4,380 4,380 Japan 3,840 3,332 3,376 3,323 3,330 3,330 Russia 2,350 2,400 2,600 2,850 3,225 3,225 Iran 2,500 2,460 2,948 3,050 3,120 3,120 Philippines 1,950 2,050 2,250 2,500 2,800 2,800 Egypt 2,100 2,220 2,400 2,550 2,700 2,700 Argentina 1,310 1,700 2,000 2,223 2,500 2,500 Other 25,614 26,439 27,448 29,883 30,856 31,644 Total 177, , , , , ,704 Ending Stocks Brazil 3,198 3,098 3,065 3,640 3,675 3,675 Argentina 2,821 3,543 4,463 4,140 3,760 3,620 Indonesia India European Union Other 2,713 2,257 2,327 2,844 2,780 2,775 Total 9,825 9,688 10,633 11,667 11,278 11,083 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.

17 Table 09: Soybean Oil: World Supply and Distribution Thousand Metric Tons 2011/ / / /15 Aug Sep Production China 10,914 11,626 12,335 13,280 14,230 14,230 United States 8,954 8,990 9,131 9,662 9,752 9,804 Argentina 6,839 6,364 6,785 7,525 7,860 7,860 Brazil 7,310 6,760 7,070 7,570 7,590 7,590 European Union 2,359 2,501 2,553 2,642 2,755 2,755 India 1,708 1,752 1,478 1,315 1,630 1,630 Paraguay Other 4,485 4,524 4,990 5,676 6,058 6,045 Total 42,741 43,081 44,982 48,377 50,658 50,697 India 1,174 1,086 1,830 2,650 2,800 2,800 China 1,502 1,409 1, Algeria Bangladesh Morocco Iran Venezuela Egypt Peru Colombia Other 2,630 2,842 2,844 2,991 2,840 2,885 Total 7,958 8,493 9,350 10,034 10,150 10,245 Exports Argentina 3,794 4,244 4,087 4,925 5,100 5,200 Brazil 1,885 1,251 1,378 1,480 1,390 1,390 United States European Union 742 1, Paraguay Russia Bolivia Other ,002 1,092 1,146 1,146 Total 8,465 9,362 9,386 10,737 10,868 11,018 China 12,044 12,545 13,657 14,193 15,237 15,237 United States 8,306 8,476 8,599 8,663 8,799 8,891 Brazil 5,390 5,534 5,765 6,120 6,230 6,230 India 2,750 2,950 3,300 3,900 4,400 4,450 Argentina 3,020 2,275 2,729 2,651 2,770 2,660 European Union 2,109 1,908 1,970 2,020 2,070 2,070 Mexico , ,010 Iran Bangladesh Egypt Algeria Venezuela Korea, South Morocco Colombia Other 4,211 4,276 4,502 4,677 5,032 4,939 Total 42,193 42,587 45,342 47,516 49,904 49,978 Ending Stocks United States 1, China 615 1, India European Union Brazil Other 1,282 1, ,089 1,080 Total 4,125 3,750 3,354 3,512 3,596 3,458 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.

18 Table 10: Soybeans and Products: World Trade Thousand Metric Tons Meal, Soybean Oil, Soybean Oilseed, Soybean Marketing Year 2013/ / / / / /15 Exports North America 10,734 12,109 10, ,044 1,021 48,045 53,715 50,772 Canada (Aug-Jul) ,471 3,775 3,825 United States (Sep-Aug) 10,474 11,839 10, ,574 49,940 46,947 South America 42,954 47,250 49,930 6,432 7,397 7,647 62,779 67,709 72,384 Argentina (Oct-Sep) 24,972 28,500 30,200 4,087 4,925 5,200 7,842 9,600 9,750 Brazil (Oct-Sep) 13,948 14,700 15,200 1,378 1,480 1,390 46,829 50,000 54,500 Paraguay (Mar-Feb) 2,504 2,550 2, ,800 4,600 4,600 South Asia 2,748 1,132 2, India (Oct-Sep) 2,742 1,125 2, Other 3,591 3,509 3,422 2,006 2,296 2,350 1,633 3,206 3,024 World Total 60,027 64,000 66,233 9,386 10,737 11, , , ,480 European Union (Oct-Sep) 18,175 19,550 20, ,985 13,450 13,500 East Asia 3,884 3,645 3,655 1,772 1,327 1,405 76,866 83,540 85,555 China (Oct-Sep) , ,364 77,000 79,000 Japan (Oct-Sep) 1,976 1,750 1, ,894 2,900 2,850 Korea, South (Oct-Sep) 1,825 1,735 1, ,271 1,275 1,300 Taiwan (Oct-Sep) ,335 2,350 2,380 Southeast Asia 13,743 15,421 16, ,150 6,485 6,770 Indonesia (Oct-Sep) 3,983 4,250 4, ,241 2,150 2,300 Malaysia (Oct-Sep) 1,397 1,450 1, Philippines (Jan-Dec) 2,337 2,500 2, Thailand (Sep-Aug) 2,665 3,000 3, ,798 2,075 2,100 Vietnam (Jan-Dec) 3,342 4,200 4, ,415 1,500 1,600 North America 2,839 2,983 3, ,134 5,273 5,216 Canada (Aug-Jul) , Mexico (Sep-Aug) 1,510 1,690 1, ,842 4,025 4,050 South America 4,651 5,060 5,225 1,293 1,400 1,421 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 3,375 3,645 Iran (Oct-Sep) 2,683 2,150 2, ,150 Israel (Oct-Sep) Syria (May-Apr) Turkey (Oct-Sep) ,608 2,050 2,100 North Africa 3,245 3,305 3,517 1,404 1,555 1,625 1,828 2,030 2,100 Egypt (Oct-Sep) 1,116 1,050 1, ,694 1,880 1,950 Other 4,240 4,595 4,653 2,863 3,719 3,895 3,033 3,648 4,273 World Total 57,857 61,443 64,137 9,350 10,034 10, , , ,216

19 Table 11: Palm Oil: World Supply and Distribution Thousand Metric Tons 2011/ / / /15 Aug Sep 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 945 1,140 1,210 1,108 1,100 1,100 Nigeria Other 4,373 4,522 4,717 4,775 4,895 4,895 Total 52,582 56,588 59,558 61,453 65,165 65,165 India 7,473 8,364 7,820 9,350 9,700 9,850 European Union 5,707 6,798 6,902 6,800 6,950 6,950 China 5,841 6,589 5,573 5,450 5,750 5,750 Pakistan 2,218 2,246 2,758 2,700 2,950 2,950 Egypt 1, ,153 1,550 1,550 1,550 Bangladesh 984 1,030 1,262 1,350 1,450 1,450 United States 1,032 1,293 1,220 1,122 1,225 1,250 Singapore Turkey Burma Other 12,452 12,716 13,436 13,938 14,013 14,013 Total 38,844 41,818 41,822 44,240 45,738 46,113 Exports Indonesia 18,452 20,373 21,719 24,000 24,800 24,800 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 2,697 2,716 Total 39,844 43,203 43,284 45,404 46,997 47,016 India 7,485 8,250 8,384 9,200 9,950 9,950 Indonesia 7,129 7,852 8,900 7,820 9,520 9,520 European Union 5,523 6,560 6,775 6,650 6,800 6,800 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 1,110 1,495 1,470 1,470 Bangladesh 1,030 1,030 1,190 1,345 1,450 1,450 United States 1,043 1,238 1,207 1,115 1,202 1,227 Colombia ,013 1,040 1,040 Turkey Ghana Burma Other 11,537 12,155 13,056 13,812 14,395 14,400 Total 50,473 55,191 57,862 59,045 63,612 63,802 Ending Stocks Indonesia 1,445 1,758 1,666 2,846 3,526 3,526 Malaysia 2,481 1,784 2,091 2,231 2,261 2,261 India European Union Pakistan Other 2,473 2,593 2,822 2,466 2,102 2,171 Total 7,508 7,520 7,754 8,998 9,089 9,458

20 Table 12: Rapeseed and Products: World Supply and Distribution Thousand Metric Tons Meal, Rapeseed Oil, Rapeseed Oilseed, Rapeseed Marketing Year 2013/ / / / / /15 Production China (Oct-Sep) 11,631 11,505 10,975 6,579 6,500 6,195 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 3,945 3,050 3,230 3,070 18,551 16,410 13,300 Japan (Oct-Sep) 1,353 1,360 1,360 1,054 1,075 1, European Union (Jul-Jun) 13,780 14,370 13,398 9,946 10,371 9,670 21,304 24,394 21,300 Other 5,026 5,586 5,198 3,479 3,837 3,641 10,473 10,193 8,840 World Total 39,435 40,221 38,476 26,508 27,113 25,971 72,088 71,909 64,692 China (Oct-Sep) ,046 4,600 3,300 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 5,193 5,074 2,318 2,443 2,468 4,240 4,665 4,397 World Total 5,923 5,842 5,736 3,769 3,773 3,815 15,225 14,136 12,447 Exports China (Oct-Sep) India (Oct-Sep) 1, , Canada (Aug-Jul) 3,424 3,593 3,520 2,348 2,389 2,500 9,173 9,207 7,400 Japan (Oct-Sep) European Union (Jul-Jun) Other ,151 1,221 1,016 5,499 4,769 4,580 World Total 6,072 5,815 5,768 3,816 3,980 3,830 14,963 14,566 12,280 China (Oct-Sep) 11,908 11,575 11,080 7,025 7,564 7,700 19,100 18,900 18,000 India (Oct-Sep) 2,403 2,350 2,500 2,505 2,405 2,510 7,300 6,450 7,050 Canada (Aug-Jul) ,024 7,954 7,312 Japan (Oct-Sep) 1,430 1,420 1,420 1,030 1,045 1,060 2,405 2,455 2,455 European Union (Jul-Jun) 13,750 14,400 13,600 9,765 10,200 9,775 24,936 25,960 24,250 Other 9,242 9,870 9,450 4,678 5,155 5,070 8,918 9,913 9,197 World Total 39,248 40,135 38,565 25,648 27,052 26,816 69,683 71,632 68,264 Ending Stocks China (Oct-Sep) ,607 2,283 1,568 1,036 1, India (Oct-Sep) Canada (Aug-Jul) ,008 2,322 1,010 Japan (Oct-Sep) European Union (Jul-Jun) ,075 2,275 1,225 Other , World Total ,661 3,515 2,655 7,699 7,546 4,141

21 Table 13: Sunflowerseed and Products: World Supply and Distribution Thousand Metric Tons Oilseed, Sunflowerseed Meal, Sunflowerseed Oil, Sunflowerseed Marketing Year 2013/ / / / / /15 Production Argentina (Mar-Feb) 2,000 3,160 2, ,220 1, ,185 1,140 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 10,000 4,700 4,280 4,179 4,725 4,305 4,179 European Union (Oct-Sep) 9,052 8,930 7,900 4,130 4,072 3,910 3,190 3,145 3,020 Other 8,141 7,825 7,793 2,758 2,580 2,619 2,394 2,231 2,271 World Total 42,747 40,244 38,843 16,769 16,014 15,828 15,939 15,161 14,963 Argentina (Mar-Feb) Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) European Union (Oct-Sep) ,364 3,400 3,400 1, Other ,411 1,436 1,445 4,844 4,392 4,358 World Total 1,500 1,421 1,182 5,538 5,586 5,695 6,671 6,103 6,098 Exports Argentina (Mar-Feb) Russia (Sep-Aug) ,729 1,500 1,500 1,753 1,450 1,500 Turkey (Sep-Aug) Ukraine (Sep-Aug) ,648 3,750 3,700 4,181 3,850 3,700 European Union (Oct-Sep) Other 933 1, World Total 1,947 1,853 1,337 6,206 6,237 6,084 7,752 7,253 7,088 Argentina (Mar-Feb) 2,251 2,846 2, Russia (Sep-Aug) 10,095 9,160 9,420 1,650 1,750 1,850 2,140 2,200 2,270 Turkey (Sep-Aug) 1,986 1,706 1,556 1,490 1,415 1,440 1,050 1, Ukraine (Sep-Aug) 11,385 10,385 10, European Union (Oct-Sep) 8,536 8,540 8,230 7,200 7,275 7,165 3,660 3,770 3,715 Other 7,905 7,501 7,581 3,892 3,790 3,798 6,429 6,299 6,178 World Total 42,158 40,138 39,616 15,612 15,630 15,633 14,554 14,546 14,345 Ending Stocks Argentina (Mar-Feb) Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) European Union (Oct-Sep) Other World Total 2,798 2,472 1, ,938 1,403 1,031

22 Table 14: Minor Vegetable Oils: World Supply and Distribution Thousand Metric Tons Oil, Peanut Oil, Cottonseed Oil, Olive Marketing Year 2013/ / / / / /15 Production China (Oct-Sep) 2,725 2,720 2,740 1,487 1,396 1,242 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 1,606 1,614 1,914 1,911 1, World Total 5,606 5,579 5,544 5,170 5,134 4,814 3,138 2,366 2,810 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 1,381 1,237 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 1,425 1,454 1,884 1,929 1, World Total 5,614 5,565 5,536 5,077 5,080 4,828 2,849 2,589 2,612 Ending Stocks China (Oct-Sep) India (Oct-Sep) Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) Other World Total

23 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