Sharp Decline in Vegetable Oil Stocks Leads to Steeply Higher Prices

Transcription

1 United States Department of Agriculture Foreign Agricultural Service Circular Series FOP 1-11 Sharp Decline in Vegetable Oil Leads to Steeply Higher Prices Commodity prices have been on an upward trend since June in response to improving economic conditions and a declining dollar. However, soybean oil has appreciated at more than twice the pace of meal and petroleum, reflecting both stronger world vegetable oil demand from China and shrinking stocks. Global vegetable oil stocks are forecast to drop 30 percent from their peak in 2008/09. As a share of consumption, stocks are expected to fall to levels unseen since the mid 1970s, reflecting an accelerated pace of vegetable oil disappearance in both food and fuel markets. Sharply higher petroleum prices were an important factor in the 2008 surge in vegetable oil prices. However, this year's relatively modest price rise vis. a vis. vegetable oil is apparently indicative of stronger demand in the food sector and opens the door for the potential reallocation of vegetable oil supplies from fuel to food use. Approved by the World Agricultural Outlook Board/USDA

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3 PRICES U.S. soybean export bids, FOB Gulf, in December averaged $513 per ton, the highest since August Strong demand for exports primarily from China and concerns over South American crops continue to support prices higher. As of the week-ending December 30, U.S. soybean sales commitments (outstanding sales plus accumulated 300 exports) to China totaled 22.6 million tons, compared to 19.8 million a year ago. Total commitments to the world are 35.4 million tons compared to 32.2 million for the same period last year. U.S. Gulf/FOB ($/Metric ton) Jun-08 Aug-08 U.S. Gulf Soybean Export Bids Oct-08 Dec-08 Feb-09 Apr-09 Jun-09 Aug-09 Oct-09 Dec-09 Feb-10 Apr-10 Jun-10 Aug-10 Oct-10 Dec-10 TRADE CHANGES IN U.S. soybean exports are unchanged at 43.3 million tons. Argentina s soybean exports are down 0.5 million tons to 12.5 million on a reduced crop. Paraguay s soybean exports are up 0.5 million tons to 5.1 million on a larger crop. Turkey s soybean imports are cut 0.3 million tons to 1.1 million to reflect much smaller sales commitments from the United States, the top supplier.

4 Table 01: Major Oilseeds: World Supply and Distribution (Commodity View) Million Metric Tons 2006/ / /09 Dec 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 Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Totals may not add due to rounding

5 Table 02: Major Protein Meals: World Supply and Distribution (Commodity View) Million Metric Tons 2006/ / /09 Dec 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 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

6 Table 03: Major Vegetable Oils: World Supply and Distribution (Commodity View) Million Metric Tons 2006/ / /09 Dec 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 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

7 Table 04: Major Oilseeds: World Supply and Distribution (Country View) Million Metric Tons 2006/ / /09 Dec United States Brazil China Argentina India Other Total China EU Japan Mexico Taiwan Indonesia Thailand Egypt Turkey Korea, South Other Total Exports United States Brazil Argentina Canada Paraguay Ukraine Australia Other Crush Total China United States Argentina EU Brazil India Russia Indonesia Ukraine Canada Mexico Malaysia Pakistan Japan Turkey Other Total Ending Argentina China Brazil United States Canada Other Total Major Oilseeds includes Copra, Cottonseed, Palm Kernel, Peanut, Rapeseed, Soybeans and Sunflowerseeds.

8 Table 05: Major Protein Meals: World Supply and Distribution (Country View) Million Metric Tons 2006/ / /09 Dec China United States Argentina Brazil EU Other Total EU Korea, South Vietnam Thailand Indonesia Japan China Other Total Exports Argentina Brazil United States India Indonesia Canada Ukraine Other Total China EU United States Brazil India Japan Mexico Thailand Korea, South Russia Other SME Total China EU United States Brazil India Japan Mexico Other Total Ending Argentina Brazil EU United States Japan Other Total Major Protien Meals include Copra, Cottonseed, Fish, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflower Meal.

9 Table 06: Major Vegetable Oils: World Supply and Distribution (Country View) Million Metric Tons 2006/ / /09 Dec Indonesia Malaysia China EU United States Argentina Brazil Other Total China India EU United States Pakistan Malaysia Egypt Bangladesh Iran Russia Other Total Exports Indonesia Malaysia Argentina Ukraine Canada Brazil United States Other Total China EU India United States Brazil Indonesia Malaysia Pakistan Russia Argentina Japan Mexico Thailand Egypt Nigeria Other Total Ending Malaysia United States EU Indonesia China Other Total Major Vegetable Oils includes Coconut, Cottonseed, Olive, Palm, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflowerseed oil.

10 Table 07: Soybeans: World Supply and Distribution Thousand Metric Tons 2006/ / /09 Dec United States 87,001 72,859 80,749 91,417 91,854 90,610 Brazil 59,000 61,000 57,800 69,000 67,500 67,500 Argentina 48,800 46,200 32,000 54,500 52,000 50,500 China 15,967 14,000 15,540 14,700 14,400 14,400 India 7,690 9,470 9,100 9,000 9,600 9,600 Paraguay 5,856 6,900 4,000 7,200 6,500 7,000 Canada 3,466 2,696 3,336 3,507 4,345 4,345 Other 9,346 7,881 9,439 10,766 11,578 11,578 Total 237, , , , , ,533 China 28,726 37,816 41,098 50,338 57,000 57,000 EU-27 15,291 15,123 13,213 12,609 14,000 14,000 Mexico 3,844 3,584 3,327 3,450 3,600 3,600 Japan 4,094 4,014 3,396 3,402 3,450 3,450 Taiwan 2,436 2,148 2,216 2,469 2,500 2,500 Thailand 1,532 1,753 1,510 1,660 1,830 1,830 Indonesia 1,309 1,147 1,393 1,575 1,775 1,775 Egypt 1,328 1,061 1,575 1,623 1,750 1,750 Korea, South 1,231 1,232 1,167 1,197 1,260 1,260 Russia ,037 1,230 1,230 Other 9,241 9,809 7,443 8,035 7,778 7,614 Total 69,066 78,129 77,175 87,395 96,173 96,009 Exports United States 30,386 31,538 34,817 40,852 43,273 43,273 Brazil 23,485 25,364 29,987 28,578 31,400 31,400 Argentina 9,560 13,839 5,590 13,088 13,000 12,500 Paraguay 3,907 4,585 2,234 5,350 4,635 5,135 Canada 1,683 1,753 2,017 2,247 2,625 2,625 Other 1,840 1,695 2,206 2,668 3,064 3,064 Crush Total 70,861 78,774 76,851 92,783 97,997 97,997 China 35,970 39,518 41,035 48,830 57,800 57,800 United States 49,198 49,081 45,230 47,669 45,314 45,042 Argentina 33,586 34,607 31,243 34,123 39,300 39,000 Brazil 31,110 32,117 31,868 33,670 34,500 34,500 EU-27 14,670 14,870 12,860 12,510 13,600 13,600 India 6,485 8,400 7,200 7,090 8,200 8,200 Mexico 3,900 3,620 3,465 3,510 3,670 3,670 Japan 2,925 2,890 2,497 2,505 2,472 2,472 Russia 805 1,051 1,497 1,950 2,280 2,280 Taiwan 2,161 1,965 1,917 2,150 2,225 2,225 Egypt 1,250 1,129 1,545 1,635 1,744 1,744 Paraguay 1,950 2,100 1,700 1,700 1,700 1,700 Thailand 1,406 1,514 1,390 1,520 1,600 1,600 Canada 1,524 1,383 1,286 1,292 1,425 1,425 Bolivia 1,670 1,160 1,350 1,425 1,390 1,390 Other 7,465 7,344 6,828 7,933 8,564 8,564 Total 196, , , , , ,212 Ending Argentina 22,606 21,760 16,588 22,277 20,495 19,627 China 2,700 4,245 9,048 14,472 16,572 16,572 Brazil 18,189 18,898 12,037 16,063 14,838 14,838 United States 15,617 5,580 3,761 4,106 4,487 3,820 India ,150 1,050 1,050 Other 3,799 2,333 1,971 2,158 2,680 2,374 Total 63,129 52,912 44,071 60,226 60,122 58,281 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 and Turkey is on an March/February MY.

11 Table 08: Soybean Meal: World Supply and Distribution Thousand Metric Tons 2006/ / /09 Dec China 28,465 31,280 32,475 38,644 45,778 45,778 United States 39,037 38,359 35,473 37,830 35,864 35,864 Argentina 26,061 27,071 24,363 26,621 30,460 30,175 Brazil 24,110 24,890 24,700 26,090 26,740 26,740 EU-27 11,550 11,715 10,131 9,880 10,714 10,714 India 5,176 6,705 5,746 5,660 6,540 6,540 Mexico 3,075 2,814 2,727 2,760 2,890 2,890 Other 16,771 16,262 15,982 17,795 18,894 18,894 Total 154, , , , , ,595 EU-27 22,213 24,074 20,980 20,730 23,250 23,250 Vietnam 2,291 2,296 2,521 2,768 2,800 2,800 Indonesia 2,237 2,429 2,339 2,330 2,600 2,600 Thailand 2,275 1,935 2,160 2,513 2,550 2,550 Japan 1,737 1,747 1,812 2,106 2,100 2,100 Korea, South 1,870 1,760 1,813 1,737 1,850 1,850 Iran ,046 1,525 1,650 1,650 Mexico 1,780 1,401 1,518 1,209 1,420 1,420 Philippines 1,357 1,213 1,295 1,100 1,225 1,225 Canada 1,415 1,511 1,251 1,106 1,150 1,150 Other 14,555 14,803 14,396 15,427 16,443 16,388 Total 52,547 54,069 51,131 52,551 57,038 56,983 Exports Argentina 25,625 26,816 24,025 24,914 29,550 29,285 Brazil 12,715 12,138 13,109 12,985 13,640 13,640 United States 7,987 8,384 7,708 10,137 8,346 8,346 India 4,143 5,285 3,808 3,110 3,450 3,750 Paraguay 1,500 1,557 1,076 1,250 1,250 1,250 Other 3,351 2,422 3,005 3,256 3,149 3,166 Total 55,321 56,602 52,731 55,652 59,385 59,437 China 27,630 30,849 31,673 37,546 44,678 44,678 EU-27 33,228 35,169 31,579 30,138 33,342 33,256 United States 31,166 30,148 27,898 27,777 27,669 27,669 Brazil 11,118 12,257 12,418 12,835 13,345 13,345 Mexico 4,871 4,240 4,190 4,025 4,300 4,300 Japan 3,921 3,945 3,846 3,945 4,004 4,004 Thailand 3,348 3,250 3,200 3,660 3,798 3,798 Vietnam 2,291 2,296 2,478 2,768 2,956 2,956 India 1,020 1,450 1,950 2,490 3,095 2,795 Iran 1,566 1,836 1,796 2,543 2,668 2,668 Indonesia 2,236 2,370 2,383 2,350 2,600 2,600 Korea, South 2,661 2,506 2,452 2,413 2,496 2,496 Russia 1,442 1,560 1,646 1,874 2,187 2,187 Canada 2,476 2,485 2,185 2,000 2,134 2,134 Egypt 1,397 1,060 1,450 1,685 1,810 1,810 Other 20,862 20,992 20,654 22,600 24,167 24,155 Total 151, , , , , ,851 Ending Argentina 1,504 1, ,866 1,989 2,048 Brazil 1,913 2,588 1,844 2,200 2,050 2,045 EU , Japan United States Other 1, ,184 1,185 1,177 1,191 Total 6,062 6,212 4,411 5,941 6,163 6,231 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 uary/december MY and Bolivia is on a March/February MY.

12 Table 09: Soybean Oil: World Supply and Distribution Thousand Metric Tons 2006/ / /09 Dec China 6,410 7,045 7,314 8,703 10,317 10,317 United States 9,294 9,335 8,503 8,897 8,609 8,618 Argentina 6,424 6,627 5,914 6,475 7,525 7,430 Brazil 5,970 6,160 6,120 6,460 6,620 6,620 EU-27 2,640 2,667 2,314 2,252 2,448 2,448 India 1,157 1,499 1,287 1,265 1,465 1,465 Mexico Other 3,866 3,746 3,682 4,094 4,335 4,340 Total 36,446 37,715 35,743 38,762 41,964 41,883 China 2,404 2,727 2,494 1,514 2,000 2,000 India 1, ,060 1,598 1,300 1,300 EU , Morocco Algeria Bangladesh Peru Iran Venezuela Korea, South Other 2,536 3,224 2,523 2,675 2,807 2,771 Total 9,919 10,425 9,078 8,682 9,167 9,206 Exports Argentina 5,970 5,789 4,704 4,430 5,250 5,200 Brazil 2,462 2,388 1,909 1,449 1,540 1,540 United States 851 1, ,523 1,225 1,225 EU Paraguay Bolivia Russia Other Total 10,565 10,918 9,097 9,045 9,646 9,522 China 8,670 9,693 9,486 10,435 12,198 12,198 United States 8,426 8,317 7,378 7,195 7,756 7,756 Brazil 3,395 3,955 4,276 4,965 5,165 5,165 India 2,500 2,330 2,300 2,810 2,870 2,870 EU-27 3,368 3,377 2,779 2,400 2,666 2,666 Argentina 459 1,026 1,425 1,925 2,267 2,267 Mexico Iran Egypt Japan Morocco Korea, South Taiwan Bangladesh Algeria Other 4,201 4,232 3,938 4,152 4,328 4,369 Total 35,467 37,752 36,069 38,296 41,671 41,808 Ending United States 1,399 1,127 1,298 1,523 1,203 1,212 EU Brazil China Argentina Other 962 1, Total 3,820 3,290 2,945 3,048 2,793 2,807 Most countries are on an October/September Marketing Year (MY). Mexico is on a September/August MY. Peru is on an uary/december MY and Paraguay and Bolivia are on a March/February MY.

13 Table 10: Soybeans and Products: World Trade Thousand Metric Tons Meal, Soybean Oil, Soybean Oilseed, Soybean Marketing Year 2008/ / /09 Exports North America 7, ,483 1, ,278 36,834 2,247 45,898 Canada (Aug-Jul) ,017 2,247 2,625 United States (Sep-Aug) 7,708 10,137 8, ,523 1,225 34,817 40,852 43,273 South America 38,134 1,060 45,200 6, ,217 36,839 1,923 50,753 Argentina (Oct-Sep) 24,025 24,914 29,285 4,704 4,430 5,200 5,590 13,088 12,500 Brazil (Oct-Sep) 13,109 12,985 13,640 1,909 1,449 1,540 29,987 28,578 31,400 Paraguay (Mar-Feb) 1,076 1,250 1, ,234 5,350 5,135 South Asia 3, , India (Oct-Sep) 3,808 3,110 3, Other 2,990 54,458 2,003 1,214 8,782 1,025 3,178 88,558 1,291 World Total 52,731 55,652 59,437 9,097 9,045 9,522 76,851 92,783 97,997 European Union , ,000 East Asia 3,963 3,957 4,080 2,527 1,514 2,418 1,167 57,451 64,255 China (Oct-Sep) ,494 1,514 2,000 41,098 50,338 57,000 Japan (Oct-Sep) 1,812 2,106 2, ,396 3,402 3,450 Korea, South (Oct-Sep) 1,813 1,737 1, ,167 1,197 1,260 Taiwan (Oct-Sep) ,216 2,469 2,500 Southeast Asia 9,270 9,833 10, ,671 4,160 4,705 Indonesia (Oct-Sep) 2,339 2,330 2, ,393 1,575 1,775 Malaysia (Oct-Sep) 934 1,100 1, Philippines (-Dec) 1,295 1,100 1, Thailand (Sep-Aug) 2,160 2,513 2, ,510 1,660 1,830 Vietnam (-Dec) 2,521 2,768 2, North America 2,849 2,315 2, ,075 3,825 4,358 Canada (Aug-Jul) 1,251 1,106 1, Mexico (Sep-Aug) 1,518 1,209 1, ,327 3,450 3,600 South America 3,865 4,191 4, ,026 1, Brazil (Oct-Sep) Colombia (Oct-Sep) Central America Caribbean Middle East 30 3,454 4, ,737 2,270 3,420 Iran (Oct-Sep) 1,046 1,525 1, ,070 1,070 Israel (Oct-Sep) Syria (-Dec) Turkey (Nov-Oct) ,007 1,860 1,100 North Africa 1,606 1,981 2, ,140 1,961 2,023 2,175 Egypt (Oct-Sep) ,575 1,623 1,750 Other 28,770 25,143 3,896 4,209 6,368 2,238 61,795 16,749 1,899 World Total 51,131 52,551 56,983 9,078 8,682 9,206 77,175 87,395 96,009

14 Table 11: Palm Oil: World Supply and Distribution Thousand Metric Tons 2006/ / /09 Dec Indonesia 16,600 18,000 20,500 21,000 23,000 23,000 Malaysia 15,290 17,567 17,259 17,763 18,600 18,600 Thailand 1,170 1,050 1,540 1,345 1,500 1,500 Nigeria Colombia Other 2,704 2,803 2,997 3,087 3,142 3,142 Total 37,329 41,020 43,941 44,815 47,912 47,912 India 3,650 5,015 6,867 6,603 7,200 7,200 China 5,139 5,223 6,118 5,760 6,250 6,250 EU-27 4,294 4,916 5,425 5,100 5,400 5,400 Pakistan 1,618 2,219 1,949 2,200 2,300 2,300 Malaysia ,047 1,250 1,250 1,250 United States , , Bangladesh Egypt Iran Japan Other 8,293 9,285 8,937 9,690 10,248 10,298 Total 26,700 30,735 34,120 34,579 36,688 36,688 Exports Indonesia 11,419 13,969 15,964 16,200 18,000 18,000 Malaysia 12,900 14,644 15,485 15,530 16,100 16,100 Benin Papua New Guinea United Arab Emirates Other 2,278 2,480 2,151 2,110 2,059 2,089 Total 27,561 32,176 34,616 34,985 37,330 37,372 India 3,671 5,065 6,275 6,753 7,750 7,750 China 5,138 5,222 5,618 5,930 6,277 6,277 EU-27 4,218 4,717 5,039 5,024 5,388 5,388 Indonesia 4,400 4,580 4,860 4,740 4,910 4,910 Malaysia 3,109 3,170 3,229 3,562 3,800 3,800 Pakistan 1,661 2,027 1,995 2,130 2,250 2,250 Thailand ,229 1,290 1,480 1,480 Nigeria 1,155 1,190 1,208 1,232 1,240 1,240 United States ,059 1,009 Bangladesh Colombia Egypt Iran Japan Russia Other 7,993 8,235 8,394 8,947 9,700 9,705 Total 36,124 39,762 42,535 44,701 48,203 48,158 Ending Malaysia 1,565 1,987 1,579 1,500 1,450 1,450 Indonesia 1,614 1, ,029 1,029 China EU Togo Other 1,268 1,133 1,998 1, Total 4,707 4,524 5,434 5,142 4,193 4,212

15 Table 12: Rapeseed and Products: World Supply and Distribution Thousand Metric Tons Meal, Rapeseed Oil, Rapeseed Oilseed, Rapeseed Marketing Year 2008/ / /09 China (Oct-Sep) 8,325 9,156 9,242 4,700 5,170 5,219 12,100 13,657 12,800 India (Oct-Sep) 3,260 3,525 3,588 2,058 2,230 2,265 6,700 6,400 7,000 Canada (Aug-Jul) 2,490 2,775 3,360 1,780 1,980 2,385 12,643 12,417 11,866 Japan (Oct-Sep) 1,249 1,277 1, EU-27 (Jul-Jun) 11,744 12,982 12,896 8,472 9,370 9,308 19,000 21,566 20,300 Other 3,766 3,900 3,785 2,593 2,668 2,595 7,464 6,583 6,350 World Total 30,834 33,615 34,115 20,487 22,322 22,652 57,908 60,624 58,317 China (Oct-Sep) ,034 2,177 1,900 India (Oct-Sep) Canada (Aug-Jul) Japan (Oct-Sep) ,123 2,275 2,200 EU-27 (Jul-Jun) ,342 2,198 2,050 Other 2,979 2,499 3,176 1,354 1,458 1,555 3,485 3,632 3,428 World Total 3,530 3,684 3,896 2,434 2,907 2,843 12,125 10,430 9,868 Exports China (Oct-Sep) India (Oct-Sep) Canada (Aug-Jul) 1,861 1,927 2,530 1,527 1,805 2,025 7,898 7,169 6,400 Japan (Oct-Sep) EU-27 (Jul-Jun) Other ,024 3,581 3,168 World Total 3,549 3,400 4,179 2,420 2,689 2,762 12,024 10,912 9,673 China (Oct-Sep) 8,317 10,022 9,592 4,853 5,641 6,100 13,740 15,114 15,250 India (Oct-Sep) 2,475 2,745 2,765 2,095 2,247 2,287 6,140 6,661 6,795 Canada (Aug-Jul) ,667 4,914 6,120 Japan (Oct-Sep) 1,354 1,336 1, ,205 2,255 2,196 EU-27 (Jul-Jun) 11,759 12,923 12,750 8,679 9,615 10,145 21,374 23,534 23,270 Other 6,297 6,069 6,468 3,197 3,373 3,484 6,754 6,859 6,706 World Total 30,832 33,903 33,764 20,148 22,201 23,389 54,880 59,337 60,337 Ending China (Oct-Sep) ,394 2,114 1,564 India (Oct-Sep) Canada (Aug-Jul) ,661 2,123 1,739 Japan (Oct-Sep) EU-27 (Jul-Jun) ,831 1, Other , World Total ,081 1, ,674 7,479 5,654 1/12/2011 8:39:52 AM

16 Table 13: Sunflowerseed and Products World Supply and Distribution Thousand Metric Tons Oilseed, Sunflowerseed Meal, Sunflowerseed Oil, Sunflowerseed Marketing Year 2008/ / /09 Argentina (Mar-Feb) 2,440 2,300 2,800 1,391 1,150 1,250 1,345 1,085 1,180 Russia (Sep-Aug) 7,350 6,425 5,500 2,306 2,253 1,874 2,565 2,505 2,082 Turkey (Sep-Aug) Ukraine (Sep-Aug) 7,000 6,500 6,500 2,600 2,580 2,636 2,632 2,608 2,667 EU-27 (Oct-Sep) 7,130 6,940 6,850 3,210 3,373 3,245 2,460 2,591 2,494 Other 8,524 7,428 7,575 2,826 2,524 2,533 2,469 2,219 2,236 World Total 33,274 30,393 30,100 12,793 12,439 12,033 11,986 11,634 11,213 Argentina (Mar-Feb) Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) EU-27 (Oct-Sep) ,496 2,007 2,100 1, Other ,114 1,164 1,332 2,500 2,655 2,464 World Total 1,808 1,485 1,210 3,922 3,605 3,733 3,999 3,830 3,614 Exports Argentina (Mar-Feb) Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) ,209 2,516 2,520 2,098 2,645 2,400 EU-27 (Oct-Sep) Other World Total 2,142 1,565 1,311 4,301 4,139 4,034 4,566 4,621 4,331 Argentina (Mar-Feb) 3,367 2,675 2, Russia (Sep-Aug) 6,917 6,720 5,595 1,329 1,407 1,459 1,918 2,016 2,001 Turkey (Sep-Aug) 1,216 1,477 1, Ukraine (Sep-Aug) 6,285 6,181 6, EU-27 (Oct-Sep) 6,775 7,050 6,670 5,386 5,527 5,198 3,245 3,402 3,333 Other 8,194 7,451 7,520 3,600 3,431 3,562 4,017 4,403 4,220 World Total 32,754 31,554 30,322 12,088 12,045 11,735 10,733 11,237 10,955 Ending Argentina (Mar-Feb) Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) EU-27 (Oct-Sep) Other World Total 2,816 1,575 1, ,661 1,

17 Table 14: Minor Vegetable Oil Supply and Distribution Thousand Metric Tons Oil, Peanut Oil, Cottonseed Oil, Olive Marketing Year 2008/ / /09 China (Oct-Sep) 2,174 2,189 2,184 1,600 1,466 1,378 India (Oct-Sep) 1,545 1,230 1,467 1,030 1,045 1,150 Turkey (Nov-Oct) United States (Aug-Jul) EU-27 (Oct-Sep) ,250 2,250 2,250 Other 1,199 1,164 1,164 1,710 1,717 1, World Total 5,003 4,666 4,909 4,806 4,661 4,971 2,949 2,910 2,941 China (Oct-Sep) India (Oct-Sep) Turkey (Nov-Oct) United States (Aug-Jul) EU-27 (Oct-Sep) Other World Total Exports China (Oct-Sep) India (Oct-Sep) Turkey (Nov-Oct) United States (Aug-Jul) EU-27 (Oct-Sep) Other World Total China (Oct-Sep) 2,184 2,227 2,204 1,595 1,462 1,375 India (Oct-Sep) 1,455 1,385 1,427 1,038 1,064 1,141 Turkey (Nov-Oct) United States (Aug-Jul) EU-27 (Oct-Sep) ,070 2,070 2,100 Other 1,041 1,041 1,042 1,745 1,732 1, World Total 4,861 4,838 4,870 4,792 4,672 4,882 2,992 3,010 3,055 Ending China (Oct-Sep) India (Oct-Sep) Turkey (Nov-Oct) United States (Aug-Jul) EU-27 (Oct-Sep) Other World Total

18 Table 15: World Oilseeds and Products Supply and Distribution Million Metric Tons Area Harvested Beginning Total Supply Exports Food Use Dom. Domestic Consumpti Ending Major Oilseeds 1997/ / / / / / / / / / / / Major Protien Meals 1997/ / / / / / / / / / / / Major Vegetable Oils 1997/ / / / / / / / / / / / Based on the aggregate of different marketing years

19 Table 16: World: Soybeans and Products Supply and Distribution Million Metric Tons Area Harvested Beginning Total Supply Exports Crush Domestic Consumpti Ending Oilseed, Soybean 1997/ / / / / / / / / / / / Meal, Soybean 1997/ / / / / / / / / / / / Oil, Soybean 1997/ / / / / / / / / / / / Based on the aggregate of different marketing years, primarily Ocober through September.

20 Table 17: World: Rapeseed and Products Supply and Distribution Million Metric Tons Area Harvested Beginning Total Supply Exports Food Use Dom. Domestic Consumpti Ending Oilseed, Rapeseed 1997/ / / / / / / / / / / / Meal, Rapeseed 1997/ / / / / / / / / / / / Oil, Rapeseed 1997/ / / / / / / / / / / / Based on the aggregate of different marketing years.

21 Table 18: World: Sunflower and Products Supply and Distribution Million Metric Tons Area Harvested Beginning Exports Domestic Consumpti Ending Oilseed, Sunflowerseed 1997/ / / / / / / / / / / / Meal, Sunflowerseed 1997/ / / / / / / / / / / / Oil, Sunflowerseed 1997/ / / / / / / / / / / / Based on the aggregate of different marketing years, primarily September through August.

22 Table 19: World: Palm Oil, Coconut Oil, and Fish Meal Supply and Distribution Million Metric Tons Beginning Total Supply Exports Industrial Dom. Food Use Dom. Domestic Consumpti Ending Oil, Palm 1997/ / / / / / / / / / / / Oil, Coconut 1997/ / / / / / / / / / / / Meal, Fish 1997/ / / / / / / / / / / / Based on the aggregate of different marketing years.

23 Table 20: United States Oilseeds and Products Supply and Distribution Local Marketing Year Thousand Metric Tons Area Harvested Beginning Total Supply Exports Crush Domestic Consumpti Ending Major Oilseeds 1997/98 35,351 4,654 83, ,421 24,555 48,887 57,421 6, /99 35,275 6,445 84, ,507 22,722 47,813 58,005 10, /00 37,149 10,780 82, ,854 27,395 47,905 57,474 8, /01 36,805 8,985 84, ,693 27,976 49,189 58,897 7, /02 37,323 7,820 89, ,305 29,966 50,631 61,466 6, /03 36,284 6,873 83, ,358 29,433 47,505 56,090 5, /04 36,041 5,835 76, ,942 25,158 45,539 53,632 4, /05 36,808 4,152 95, ,777 30,708 50,167 61,780 8, /06 36,587 8,289 95, ,623 26,611 51,897 63,811 14, /07 36,962 14,201 96,843 1, ,077 31,647 53,483 63,407 17, /08 31,970 17,023 82,453 1, ,741 33,045 53,495 60,787 6, /09 35,265 6,909 89,201 1,295 97,405 35,694 49,343 56,092 5,619 35,512 5,619 98,902 1, ,587 41,770 51,453 58,272 5,545 37,185 5, ,466 1, ,019 44,372 49,469 57,409 5,238 Major Protien Meals 1997/ ,455 1,355 39,039 8,957 48,887 29, / ,764 1,221 38,284 7,223 47,813 30, / ,713 1,242 38,288 7,131 47,905 30, / ,238 1,162 39,697 7,607 49,189 31, / ,890 1,060 40,347 7,524 50,631 32, / ,585 1,200 38,071 5,922 47,505 31, / ,200 1,845 37,291 4,933 45,539 32, / ,246 1,521 41,040 6,970 50,167 33, / ,910 1,655 41,780 7,611 51,897 33, / ,449 1,701 43,511 8,264 53,483 34, / ,873 1,979 43,237 8,710 53,495 34, / ,717 1,811 39,861 7,947 49,343 31, ,046 1,338 41,630 10,316 51,453 30, ,366 1,913 40,619 8,604 49,469 31, Major Vegetable Oils 1997/ ,558 1,644 12,144 2,043 48,887 9, / ,431 1,410 11,824 1,635 47,813 9, / ,413 1,522 11,933 1,126 47,905 9,592 1, /01 0 1,215 9,554 1,683 12,452 1,047 49,189 9,766 1, /02 0 1,639 9,681 1,627 12,947 1,549 50,631 10,093 1, /03 0 1,305 9,197 1,543 12,045 1,238 47,505 9, / ,779 1,911 11, ,539 10, / ,769 1,841 12, ,167 10,443 1, /06 0 1,124 10,423 2,379 13, ,897 11,230 1, /07 0 1,797 10,455 2,527 14,779 1,333 53,483 11,705 1, /08 0 1,741 10,545 3,109 15,395 1,679 53,495 12,252 1, /09 0 1,464 9,667 3,230 14,361 1,457 49,343 11,167 1, ,737 10,049 3,337 15,123 1,949 51,453 11,219 1, ,955 9,869 3,327 15,151 1,581 49,469 11,982 1,588 Based on the aggregate of different marketing years