vegetable oil prices on an upward trend...united arab emirates oil, palm imports 450 350 -100...

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United States Department of Agriculture Foreign Agricultural Service Approved by the World Agricultural Outlook Board/USDA January 2020 Vegetable Oil Prices on an Upward Trend Vegetable oil prices have risen appreciably over the last 3 months, adding nearly $100 or more per ton to prices depending on the oil. The magnitude of price gains has been the greatest for the lower-priced oils, particularly palm oil, resulting in a narowing of the price spread among the four major oils. The spread between palm and rapeseed oil fell 50 percent from nearly $360/ton to $180/ton while the spread between palm and soybean oil declined roughly 75 percent from nearly $160/ton to near $40/ton. Palm oil has been the principle driver in the vegetable oil market as strong demand growth has been met with limited growth in supplies. Global consumption of palm oil grew an estimated 6 million tons in 2019, roughly double the growth in global production, leading to a draw-down in stocks. This strong demand is in part a reaction to the low palm oil prices seen earlier in the year as well as rising demand for biodiesel, particularly in producing countries. In China, import demand for all oils has accelerated as a reduction in oilseed crush, a function of lower demand for protein meals in response to African Swine Fever, has curbed local supplies. As the price gap between palm oil and the other major oils has declined, buyers are beginning to look to other oils as they become relatively less expensive. However, exportable supplies of both soybean and rapeseed oil remain tight. Strong demand for fuel use of soybean oil in both Brazil and the United States has restricted export availability despite the return to higher crush in Argentina. Rapeseed oil supplies are also limited by an inability to expand crush significantly in Canada despite large seed stocks. And while sunflower oil is relatively more plentiful, it is not sufficient to offset tightness in the other oils. Accordingly, current price strength is expected to continue until growth in palm oil supplies exceeds demand. 500 550 600 650 700 750 800 850 900 950 1000 Dollars/Metric Ton Vegetable OIl Prices Soy (avg US & S Amer) Rape (EU) Palm (Malaysia) Sun (EU)

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Page 1: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

United States Department of Agriculture Foreign Agricultural Service

Approved by the World Agricultural Outlook Board/USDA

January 2020

Vegetable Oil Prices on an Upward Trend

Vegetable oil prices have risen appreciably over the last 3 months, adding nearly $100 or more per ton to prices depending on the oil. The magnitude of price gains has been the greatest for the lower-priced oils, particularly palm oil, resulting in a narowing of the price spread among the four major oils. The spread between palm and rapeseed oil fell 50 percent from nearly $360/ton to $180/ton while the spread between palm and soybean oil declined roughly 75 percent from nearly $160/ton to near $40/ton. Palm oil has been the principle driver in the vegetable oil market as strong demand growth has been met with limited growth in supplies. Global consumption of palm oil grew an estimated 6 million tons in 2019, roughly double the growth in global production, leading to a draw-down in stocks. This strong demand is in part a reaction to the low palm oil prices seen earlier in the year as well as rising demand for biodiesel, particularly in producing countries. In China, import demand for all oils has accelerated as a reduction in oilseed crush, a function of lower demand for protein meals in response to African Swine Fever, has curbed local supplies. As the price gap between palm oil and the other major oils has declined, buyers are beginning to look to other oils as they become relatively less expensive. However, exportable supplies of both soybean and rapeseed oil remain tight. Strong demand for fuel use of soybean oil in both Brazil and the United States has restricted export availability despite the return to higher crush in Argentina. Rapeseed oil supplies are also limited by an inability to expand crush significantly in Canada despite large seed stocks. And while sunflower oil is relatively more plentiful, it is not sufficient to offset tightness in the other oils. Accordingly, current price strength is expected to continue until growth in palm oil supplies exceeds demand.

500550600650700750800850900950

1000

Dolla

rs/M

etric

Ton

Vegetable OIl Prices

Soy (avg US & S Amer) Rape (EU) Palm (Malaysia) Sun (EU)

Page 2: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

CHANGES TO 2018/19 Global 2018/19 oilseed production is nearly unchanged at 597 million tons. Oilseed imports are up nearly 1 million tons on final year-end soybean imports for Mexico. Oilseed crush is up nearly 400,000 tons on higher soybean, rapeseed, and peanuts. Protein meal production is up 300,000 tons on higher soybean meal in Mexico and rapeseed meal in China. Meal ending stocks are up nearly 1 million tons due in part to raised soybean meal stocks in Brazil and Mexico. Vegetable oil production is nearly unchanged at 203 million tons. EXPORT PRICES Both soybean and soybean meal export prices strengthened in December. U.S. Gulf FOB soybean export bids in December averaged $363/ton, up $6 from November. Brazil Paranagua FOB averaged $369/ton, unchanged from November. Argentina Up River FOB averaged $367/ton, up $14. U.S. soybean meal export bids in December averaged $344/ton, up $5 from November. Brazil Paranagua FOB averaged $326/ton, up $7 from November, and Argentina Up River FOB averaged $331/ton, up $12. The U.S. and Brazil FOB soybean price spread has narrowed as Brazil’s FOB soybean price averaged 2 percent above U.S. prices, slightly less than 3 percent last month.

PROJECTION FOR 2019/20 Global 2019/20 oilseed production is forecast at 575 million tons, nearly unchanged from December with a larger soybean and sunflowerseed crops offsetting declines for palm kernel, cottonseed and rapeseed. Oilseed crush is raised 190,000 tons to 497 million on higher soybean crush in China and Mexico. Oilseed ending stocks also grew nearly 1 million tons mainly on the larger sunflowerseed crop in Russia and reductions in feed, seed and waste consumption for soybeans in Brazil. Protein meal production is up 288,000 tons from last month to 339 million primarily on higher soybean meal production in China and Mexico. Protein meal ending stocks are nearly up 1 million tons on larger soybean meal stocks in Brazil, Mexico, and Russia. Vegetable oil production is down 560,000 tons as declines in palm oil more than offset slightly higher soybean oil production. Oil exports are reduced 550,000 tons mainly on lower palm oil shipments from Malaysia. Oil ending stocks are up slightly from December at 20 million tons but still the lowest in 5 years. The projected U.S. season-average farm price for soybeans is raised to $9.00 per bushel.

Foreign Agricultural Service/USDA 2 January 2020Global Market Analysis

Page 3: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

290

310

330

350

370

390

US$

/ton

SOYBEAN EXPORT PRICES

Argentina (Up River) Brazil (Paranagua) U.S. (Gulf)

280

300

320

340

360

380

US$

/ton

SOYBEAN MEAL EXPORT PRICES

Argentina (Up River) Brazil 48% (Paranagua) US 48% (Gulf)

420460500540580620660700740780820

US$

/ton

SOYBEAN AND PALM OIL EXPORT PRICES

Argentina (Up River) Soy Oil Brazil (Paranagua) Soy Oil USA (Gulf) Soy Oil

Indonesia Palm Oil Malaysia Palm Oil

Foreign Agricultural Service/USDA 3 January 2020Global Market Analysis

Page 4: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

EXPORT SALES For the report ending January 2, 2020, U.S. soybean accumulated exports (shipments) to China totaled 9.4 million tons and 9.7 million to the rest of the world. Outstanding sales were 1.7 million tons to China and 7.8 million to the rest of the world. Last year at this time, accumulated exports to China were 474,000 tons and 12.7 million to the rest of the world, and outstanding sales to China were 3 million tons and 12.5 million to the rest of the world. U.S. soybean export commitments (outstanding sales plus accumulated exports) to China totaled 11.2 million tons compared to 3.5 million a year ago. Total commitments to the world were 29.8 million tons, compared to 30.4 million for the same period last year.

05

101520253035404550

2016/17 2017/18 2018/19 2019/20

Mill

ion

Tons

China Unknown Rest of World

U.S. Soybean Total Commitments As of January 2

0

2

4

6

8

10

12

14

16

2016/17 2017/18 2018/19 2019/20

Mill

ion

Tons

China Unknown Rest of World

U.S. Soybean Outstanding Sales As of January 2

0

5

10

15

20

25

30

35

40

2016/17 2017/18 2018/19 2019/20

Mill

ion

Tons

U.S. Soybean Accumulated Exports As of January 2

China the EU Rest of World

Foreign Agricultural Service/USDA 4 January 2020Global Market Analysis

Page 5: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

2019/20 OUTLOOK CHANGES Note: All figures are in thousand metric tons.

Country Commodity Attribute Previous Current Change Reason

Egypt Oil, Palm Imports 1,350 1,250 -100 Lower demand due to higher prices

European Union

Oil, Palm Imports 7,100 7,375 +275 Reflecting stronger imports in 2018/19

Ghana Oil, Palm Imports 320 425 +105 Trade adjusted in line with historical trends

Malaysia Oil, Palm Exports 18,350 18,000 -350 Lower supplies available

Mexico Oilseed, Soybean Imports 5,800 6,000 +200 Reflecting increase in 2018/19 final imports

Russia Oil, Palm Imports 1,050 900 -150 Abundant sun oil supplies reducing demand

United Arab Emirates

Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade

2018/19 OUTLOOK CHANGES Note: All figures are in thousand metric tons. All changes reflect year-to-date or completed year total trade

Country Commodity Attribute Previous Current Change Reason (see note above table)

Egypt Oil, Palm Imports 1,225 1,023 -202

European Union

Oil, Palm Imports 7,500 7,630 +130

Ghana Oil, Palm Imports 320 453 +133

Honduras Oil, Palm Exports 380 275 -105

Malaysia Oil, Palm Imports 600 1,082 482

Mexico Oilseed, Soybean Imports 6,586 5,908 +678

Pakistan Oil, Palm Imports 3,500 3,275 -225

Philippines Oil, Palm Imports 1,225 1,122 -103

Thailand Oil, Palm Exports 400 275 -125

United Arab Emirates

Oil, Palm Exports 280 170 -110

Oil, Palm Imports 450 330 -120

Foreign Agricultural Service/USDA 5 January 2020Global Market Analysis

Page 6: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Questions may be directed to: Bill George (202) 720-6234 [email protected] Elisa Loeser (202) 720-9459 [email protected] Tani Lee (202) 720-9180 [email protected] To download the tables in the publication, go to the Production, Supply and Distribution Database (PSD Online): (http://apps.fas.usda.gov/psdonline/psdHome.aspx), 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:

http://apps.fas.usda.gov/psdonline/psdDataPublications.aspx Archives World Markets and Trade and World Agricultural Production Reports:

http://usda.mannlib.cornell.edu/MannUsda/viewTaxonomy.do?taxonomyID=7 Production, Supply and Distribution Database (PSD Online):

http://apps.fas.usda.gov/psdonline/psdHome.aspx Global Agricultural Trade System (U.S. Exports and Imports):

http://apps.fas.usda.gov/gats/default.aspx Export Sales Report:

http://apps.fas.usda.gov/esrquery/ Global Agricultural Information Network (Agricultural Attaché Reports):

http://gain.fas.usda.gov/Pages/Default.aspx

Other USDA Reports: World Agricultural Supply and Demand Estimates (WASDE):

http://www.usda.gov/oce/commodity/wasde/ Economic Research Service:

http://www.ers.usda.gov/topics/crops National Agricultural Statistics Service:

http://www.nass.usda.gov/Publications/

Foreign Agricultural Service/USDA 6 January 2020Global Market Analysis

Page 7: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

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 Oilseed Prices Table 30 Protein Meal Prices Table 31 Vegetable Oil Prices

Foreign Agricultural Service/USDA 7 January 2020Global Market Analysis

Page 8: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 01: Major Oilseeds: World Supply and Distribution (Commodity View)

Million Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

none

Production none

5.32 Oilseed, Copra 5.51 5.94 5.98 5.81 5.81

35.76 Oilseed, Cottonseed 39.09 45.15 43.26 44.30 44.09

15.96 Oilseed, Palm Kernel 17.37 18.76 19.45 20.02 19.82

41.25 Oilseed, Peanut 45.08 46.78 46.75 45.52 45.44

68.74 Oilseed, Rapeseed 69.50 74.99 72.37 68.02 67.72

316.57 Oilseed, Soybean 349.94 341.99 358.28 337.48 337.70

40.71 Oilseed, Sunflowerseed 48.23 47.85 50.55 53.48 54.04

524.31 Total 574.73 581.45 596.64 574.62 574.63

none

Imports none

0.13 Oilseed, Copra 0.11 0.11 0.10 0.11 0.11

0.67 Oilseed, Cottonseed 0.96 0.75 0.60 0.66 0.66

0.06 Oilseed, Palm Kernel 0.06 0.08 0.07 0.07 0.07

3.30 Oilseed, Peanut 3.15 2.98 3.21 3.31 3.31

14.15 Oilseed, Rapeseed 15.51 15.47 14.29 14.65 14.61

133.35 Oilseed, Soybean 144.22 153.27 145.95 147.94 147.95

1.87 Oilseed, Sunflowerseed 2.17 2.15 2.61 2.45 2.47

153.52 Total 166.18 174.80 166.83 169.18 169.17

none

Exports none

0.15 Oilseed, Copra 0.19 0.18 0.19 0.19 0.19

0.70 Oilseed, Cottonseed 0.89 0.98 0.89 0.75 0.70

0.04 Oilseed, Palm Kernel 0.08 0.08 0.05 0.05 0.05

3.52 Oilseed, Peanut 3.63 3.33 3.52 3.70 3.70

14.34 Oilseed, Rapeseed 15.80 16.19 14.60 14.97 14.97

132.55 Oilseed, Soybean 147.50 153.07 149.22 149.15 149.15

2.01 Oilseed, Sunflowerseed 2.47 2.46 3.00 2.82 2.83

153.32 Total 170.56 176.28 171.47 171.63 171.60

none

Crush none

5.28 Oilseed, Copra 5.40 5.84 5.86 5.71 5.71

28.42 Oilseed, Cottonseed 29.19 34.14 33.87 34.46 34.29

15.89 Oilseed, Palm Kernel 17.23 18.68 19.36 19.89 19.69

16.74 Oilseed, Peanut 17.61 18.22 18.09 18.55 18.55

66.72 Oilseed, Rapeseed 67.38 68.53 67.46 65.96 65.81

275.13 Oilseed, Soybean 287.80 294.90 298.34 302.83 303.58

36.64 Oilseed, Sunflowerseed 43.02 43.92 46.15 49.11 49.08

444.81 Total 467.63 484.22 489.12 496.50 496.69

none

Ending Stocks none

0.08 Oilseed, Copra 0.07 0.07 0.07 0.06 0.06

0.88 Oilseed, Cottonseed 1.39 1.86 1.61 1.50 1.49

0.24 Oilseed, Palm Kernel 0.24 0.18 0.17 0.19 0.19

3.35 Oilseed, Peanut 3.96 4.95 5.11 4.13 4.07

6.16 Oilseed, Rapeseed 5.02 7.59 8.54 6.69 6.78

79.92 Oilseed, Soybean 95.03 98.89 110.28 96.40 96.67

2.79 Oilseed, Sunflowerseed 3.47 2.93 2.77 2.61 3.07

93.42 Total 109.18 116.48 128.54 111.57 112.32

Totals may not add due to rounding

Foreign Agricultural Service/USDA 8 January 2020Global Market Analysis

Page 9: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 02: Major Protein Meals: World Supply and Distribution (Commodity View)

Million Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

none

Production none

1.77 Meal, Copra 1.81 1.95 1.96 1.92 1.92

13.10 Meal, Cottonseed 13.44 15.73 15.58 15.89 15.80

4.51 Meal, Fish 4.87 4.94 4.64 4.87 4.87

8.18 Meal, Palm Kernel 8.90 9.72 10.07 10.37 10.25

6.64 Meal, Peanut 7.01 7.25 7.18 7.37 7.37

38.61 Meal, Rapeseed 38.82 39.55 38.89 38.10 38.02

215.97 Meal, Soybean 225.93 232.67 234.16 238.00 238.60

16.49 Meal, Sunflowerseed 19.33 19.90 20.78 22.08 22.06

305.26 Total 320.11 331.71 333.27 338.59 338.87

none

Imports none

0.56 Meal, Copra 0.48 0.64 0.60 0.63 0.63

0.22 Meal, Cottonseed 0.24 0.32 0.35 0.35 0.35

2.46 Meal, Fish 3.07 3.01 3.06 3.21 3.21

6.41 Meal, Palm Kernel 7.58 8.14 8.58 8.52 8.52

0.02 Meal, Peanut 0.13 0.05 0.10 0.09 0.09

5.72 Meal, Rapeseed 5.90 6.23 6.76 6.81 6.86

62.09 Meal, Soybean 60.45 60.13 63.31 64.61 64.64

5.95 Meal, Sunflowerseed 6.97 6.59 7.75 7.87 7.87

83.43 Total 84.81 85.11 90.50 92.09 92.16

none

Exports none

0.58 Meal, Copra 0.42 0.71 0.66 0.62 0.62

0.31 Meal, Cottonseed 0.38 0.49 0.45 0.45 0.47

2.21 Meal, Fish 2.53 2.50 2.60 2.61 2.61

6.45 Meal, Palm Kernel 6.72 7.17 7.82 7.67 7.64

0.05 Meal, Peanut 0.16 0.10 0.11 0.11 0.11

5.69 Meal, Rapeseed 5.98 6.37 6.76 6.93 6.93

65.51 Meal, Soybean 64.54 64.85 67.52 67.81 67.80

6.24 Meal, Sunflowerseed 7.44 6.98 8.00 8.14 8.19

87.04 Total 88.17 89.16 93.91 94.34 94.38

none

Domestic Consumption none

1.73 Meal, Copra 1.81 1.93 1.91 1.93 1.93

13.15 Meal, Cottonseed 13.28 15.53 15.48 15.83 15.72

4.75 Meal, Fish 5.42 5.28 5.32 5.47 5.47

8.34 Meal, Palm Kernel 9.69 10.56 10.94 11.09 11.06

6.57 Meal, Peanut 7.01 7.21 7.17 7.34 7.34

38.53 Meal, Rapeseed 38.76 39.40 39.04 38.00 37.96

213.05 Meal, Soybean 221.45 228.68 230.93 235.47 235.81

16.18 Meal, Sunflowerseed 19.09 19.40 20.71 21.67 21.77

302.31 Total 316.51 327.98 331.52 336.79 337.05

none

Ending Stocks none

0.16 Meal, Copra 0.22 0.17 0.15 0.15 0.15

0.08 Meal, Cottonseed 0.10 0.13 0.13 0.09 0.09

0.27 Meal, Fish 0.26 0.43 0.21 0.22 0.22

0.38 Meal, Palm Kernel 0.44 0.58 0.46 0.59 0.53

0.06 Meal, Peanut 0.03 0.03 0.04 0.05 0.04

1.11 Meal, Rapeseed 1.09 1.10 0.95 0.94 0.94

13.65 Meal, Soybean 14.03 13.30 12.32 10.95 11.94

1.72 Meal, Sunflowerseed 1.48 1.59 1.41 1.54 1.37

17.41 Total 17.66 17.33 15.67 14.51 15.28

Totals may not add due to rounding

Foreign Agricultural Service/USDA 9 January 2020Global Market Analysis

Page 10: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 03: Major Vegetable Oils: World Supply and Distribution (Commodity View)

Million Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

none

Production none

3.31 Oil, Coconut 3.39 3.66 3.67 3.58 3.58

4.30 Oil, Cottonseed 4.43 5.18 5.12 5.22 5.19

3.13 Oil, Olive 2.48 3.26 3.09 3.36 3.36

58.86 Oil, Palm 65.18 70.63 73.90 75.69 75.19

7.01 Oil, Palm Kernel 7.63 8.25 8.55 8.79 8.71

5.42 Oil, Peanut 5.70 5.90 5.86 6.00 6.00

27.35 Oil, Rapeseed 27.55 28.11 27.52 27.04 26.98

51.56 Oil, Soybean 53.81 55.15 55.85 56.73 56.86

15.38 Oil, Sunflowerseed 18.15 18.51 19.46 20.65 20.63

176.29 Total 188.33 198.64 203.02 207.06 206.50

none

Imports none

1.61 Oil, Coconut 1.50 1.71 1.73 1.79 1.79

0.06 Oil, Cottonseed 0.05 0.06 0.05 0.05 0.06

0.79 Oil, Olive 0.79 0.92 0.93 1.02 1.02

42.70 Oil, Palm 45.87 46.52 51.37 52.29 52.14

2.64 Oil, Palm Kernel 2.69 2.78 2.96 3.05 3.05

0.25 Oil, Peanut 0.23 0.24 0.29 0.29 0.29

4.12 Oil, Rapeseed 4.39 4.49 4.94 5.05 5.09

11.70 Oil, Soybean 10.93 9.82 10.64 11.61 11.59

7.02 Oil, Sunflowerseed 8.88 8.54 9.55 9.75 9.79

70.88 Total 75.32 75.08 82.48 84.90 84.79

none

Exports none

1.59 Oil, Coconut 1.91 1.73 1.85 1.78 1.78

0.07 Oil, Cottonseed 0.08 0.10 0.11 0.12 0.12

0.88 Oil, Olive 0.89 1.04 1.00 1.12 1.12

43.84 Oil, Palm 48.80 48.62 52.60 54.22 53.67

3.02 Oil, Palm Kernel 3.08 3.12 3.20 3.27 3.26

0.25 Oil, Peanut 0.27 0.28 0.26 0.29 0.29

4.17 Oil, Rapeseed 4.50 4.61 4.96 5.06 5.06

11.77 Oil, Soybean 11.33 10.54 11.05 11.81 11.84

8.10 Oil, Sunflowerseed 10.40 9.93 11.02 11.33 11.31

73.68 Total 81.25 79.97 86.04 89.01 88.46

none

Domestic Consumption none

3.23 Oil, Coconut 3.07 3.38 3.47 3.56 3.56

4.41 Oil, Cottonseed 4.39 5.12 5.06 5.17 5.15

2.80 Oil, Olive 2.58 2.86 3.07 3.23 3.23

59.69 Oil, Palm 61.52 66.42 72.69 74.62 74.71

6.82 Oil, Palm Kernel 7.21 7.79 8.29 8.56 8.51

5.40 Oil, Peanut 5.54 5.73 5.94 6.02 6.02

28.18 Oil, Rapeseed 28.92 29.03 28.21 27.77 27.75

52.19 Oil, Soybean 53.41 54.71 55.33 56.84 56.87

15.20 Oil, Sunflowerseed 16.49 17.14 18.07 19.06 18.89

177.92 Total 183.13 192.18 200.12 204.83 204.69

none

Ending Stocks none

0.47 Oil, Coconut 0.39 0.64 0.72 0.75 0.75

0.10 Oil, Cottonseed 0.11 0.13 0.13 0.11 0.11

0.53 Oil, Olive 0.34 0.61 0.56 0.59 0.59

8.16 Oil, Palm 8.89 11.00 10.98 9.67 9.93

0.68 Oil, Palm Kernel 0.70 0.83 0.85 0.91 0.84

0.25 Oil, Peanut 0.37 0.49 0.44 0.41 0.41

5.64 Oil, Rapeseed 4.16 3.13 2.44 1.70 1.69

3.75 Oil, Soybean 3.76 3.48 3.59 3.28 3.34

1.68 Oil, Sunflowerseed 1.83 1.80 1.73 1.80 1.94

21.27 Total 20.55 22.11 21.44 19.21 19.58

Totals may not add due to rounding

Foreign Agricultural Service/USDA 10 January 2020Global Market Analysis

Page 11: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 04: Major Oilseeds: World Supply and Distribution (Country View)

Million Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

Production none

99.02 Brazil 117.59 125.81 121.78 127.90 127.90

115.89 United States 126.94 131.48 130.72 107.57 107.42

53.66 China 55.09 59.60 59.95 62.63 62.63

63.10 Argentina 60.16 42.52 61.00 57.96 57.86

29.37 India 37.05 35.41 35.55 36.36 36.36

163.26 Other 177.90 186.63 187.65 182.20 182.45

524.31 Total 574.73 581.45 596.64 574.62 574.63

Imports none

87.93 China 98.42 99.28 86.74 88.87 88.87

19.86 European Union 19.16 20.21 20.61 21.71 21.71

5.82 Mexico 6.03 6.76 7.73 7.60 7.80

5.78 Japan 5.79 5.86 5.91 5.98 5.98

0.68 Argentina 1.67 4.70 6.41 3.90 3.90

1.37 Egypt 2.18 3.63 3.42 3.77 3.77

2.98 Turkey 3.01 3.54 3.65 3.57 3.57

2.91 Thailand 3.19 2.59 3.26 3.51 3.51

2.62 Pakistan 2.77 3.16 3.33 3.43 3.43

2.52 Indonesia 3.03 2.92 3.18 3.43 3.43

21.05 Other 20.93 22.15 22.60 23.43 23.22

153.52 Total 166.18 174.80 166.83 169.18 169.17

Exports none

54.65 Brazil 63.37 76.45 75.22 76.30 76.30

53.97 United States 60.08 59.32 48.70 49.44 49.39

14.55 Canada 15.63 15.80 14.42 14.23 14.23

11.21 Argentina 7.88 2.79 10.21 9.25 9.25

5.39 Paraguay 6.13 6.03 5.50 6.20 6.20

3.89 Ukraine 4.13 4.91 5.13 4.85 4.85

2.12 Uruguay 3.22 1.25 2.75 2.13 2.13

7.55 Other 10.11 9.73 9.53 9.24 9.26

153.32 Total 170.56 176.28 171.47 171.63 171.60

Crush none

116.50 China 122.62 127.55 121.37 120.77 121.22

55.06 United States 56.26 60.17 61.03 61.57 61.38

46.37 Argentina 46.73 40.52 44.45 48.25 48.25

41.84 Brazil 42.90 47.40 46.69 48.09 48.09

46.74 European Union 46.67 48.48 48.48 46.98 46.98

22.70 India 27.37 27.78 29.12 29.02 29.02

13.59 Russia 15.40 15.95 17.85 20.09 20.15

12.93 Ukraine 15.58 14.92 16.65 17.22 17.22

10.02 Indonesia 10.98 12.06 12.45 12.80 12.80

10.25 Canada 11.05 11.21 11.37 11.40 11.40

6.49 Mexico 6.73 7.53 8.44 8.22 8.47

5.58 Pakistan 5.88 6.51 6.56 6.24 6.24

5.21 Malaysia 5.38 5.53 5.77 5.92 5.72

3.68 Turkey 4.05 4.88 5.19 4.97 4.90

4.73 Japan 4.86 4.78 4.82 4.86 4.86

43.13 Other 45.20 48.97 48.89 50.11 50.00

444.81 Total 467.63 484.22 489.12 496.50 496.69

Ending Stocks none

24.67 Brazil 33.33 32.89 30.50 30.66 31.41

28.36 Argentina 28.61 25.33 30.57 27.20 27.10

17.98 China 21.56 24.46 20.49 20.95 20.74

6.87 United States 9.60 13.83 26.54 14.62 14.47

2.42 Canada 1.66 3.17 4.98 4.13 4.13

13.13 Other 14.42 16.81 15.46 14.00 14.47

93.42 Total 109.18 116.48 128.54 111.57 112.32

Major Oilseeds includes Copra, Cottonseed, Palm Kernel, Peanut, Rapeseed, Soybeans and Sunflowerseeds.

Foreign Agricultural Service/USDA 11 January 2020Global Market Analysis

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Table 05: Major Protein Meals: World Supply and Distribution (Country View)

Million Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

Production none

82.73 China 87.67 90.57 85.87 85.39 85.76

42.78 United States 43.11 47.03 46.52 47.33 47.24

31.74 Brazil 32.45 35.82 34.94 36.01 36.01

34.51 Argentina 34.72 29.95 32.88 35.88 35.88

30.16 European Union 30.00 31.11 31.40 30.49 30.49

83.34 Other 92.15 97.23 101.66 103.49 103.50

305.26 Total 320.11 331.71 333.27 338.59 338.87

Imports none

25.41 European Union 24.90 24.67 25.74 25.74 25.74

5.73 Vietnam 5.69 5.64 6.13 6.19 6.19

1.83 China 3.18 3.59 5.07 5.26 5.26

4.30 Indonesia 4.35 4.60 4.69 4.81 4.81

4.07 United States 3.92 3.74 3.93 3.84 3.89

2.98 Thailand 3.32 3.78 3.49 3.63 3.63

3.39 Korea, South 3.03 3.23 3.36 3.43 3.43

35.72 Other 36.43 35.87 38.10 39.20 39.22

83.43 Total 84.81 85.11 90.50 92.09 92.16

Exports none

31.09 Argentina 32.13 27.08 29.79 31.64 31.64

15.41 Brazil 13.76 16.03 15.98 15.40 15.40

11.18 United States 10.83 13.00 12.60 12.28 12.30

4.35 Ukraine 5.19 4.67 5.72 5.80 5.80

4.12 Indonesia 4.51 5.02 5.49 5.28 5.28

4.44 Canada 4.93 4.90 5.05 5.05 5.05

1.93 Russia 1.81 1.84 2.28 2.60 2.60

14.53 Other 15.02 16.62 17.01 16.29 16.31

87.04 Total 88.17 89.16 93.91 94.34 94.38

Domestic Consumption none

82.51 China 89.69 92.92 89.98 89.71 90.03

54.25 European Union 54.37 54.65 55.41 54.83 54.83

35.68 United States 36.07 37.61 37.99 38.88 38.82

17.46 Brazil 18.12 18.83 19.62 20.64 20.34

12.87 India 13.55 14.19 14.58 15.32 15.32

5.87 Russia 6.57 7.13 7.65 8.06 8.26

6.97 Mexico 7.06 7.28 7.91 7.96 8.18

6.49 Vietnam 6.86 7.11 7.40 7.48 7.48

5.87 Japan 6.29 6.38 6.49 6.58 6.58

5.37 Thailand 5.43 5.50 5.64 5.86 5.86

68.97 Other 72.50 76.39 78.86 81.49 81.37

302.31 Total 316.51 327.98 331.52 336.79 337.05

SME none

77.93 China 85.12 87.76 84.46 84.19 84.47

46.55 European Union 46.50 46.59 47.37 47.08 47.08

34.27 United States 34.64 36.28 36.67 37.53 37.48

17.26 Brazil 17.88 18.52 19.22 20.22 19.92

11.00 India 11.65 12.17 12.46 13.10 13.10

6.57 Mexico 6.66 6.88 7.52 7.56 7.78

6.25 Vietnam 6.57 6.82 7.11 7.19 7.19

77.08 Other 80.23 84.15 87.22 90.26 90.35

276.91 Total 289.26 299.19 302.04 307.13 307.36

Ending Stocks none

2.72 Brazil 3.33 4.30 3.67 3.17 3.97

4.34 Argentina 3.40 2.56 1.79 1.98 1.98

1.89 European Union 1.11 0.79 1.13 1.12 1.12

0.53 Indonesia 0.56 0.62 0.51 0.65 0.65

0.68 Russia 0.70 0.64 0.51 0.66 0.57

7.25 Other 8.56 8.42 8.07 6.93 6.99

17.41 Total 17.66 17.33 15.67 14.51 15.28

Major Protein Meals include Copra, Cottonseed, Fish, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflower Meal.

Foreign Agricultural Service/USDA 12 January 2020Global Market Analysis

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Table 06: Major Vegetable Oils: World Supply and Distribution (Country View)

Million Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

Production none

36.68 Indonesia 41.10 45.08 47.25 48.89 48.89

25.78 China 26.76 27.77 26.43 26.31 26.38

19.85 Malaysia 21.13 22.02 23.24 23.51 22.92

18.42 European Union 17.94 19.02 18.78 18.27 18.27

11.21 United States 11.43 12.11 12.19 12.41 12.34

9.69 Argentina 9.83 8.75 9.52 10.23 10.23

8.46 Brazil 8.73 9.62 9.46 9.74 9.74

46.20 Other 51.42 54.28 56.15 57.71 57.73

176.29 Total 188.33 198.64 203.02 207.06 206.50

Imports none

15.11 India 15.41 14.49 15.58 16.44 16.44

7.77 China 8.00 8.65 11.41 12.42 12.42

10.06 European Union 10.87 10.67 11.85 11.19 11.46

4.53 United States 4.73 4.78 4.71 4.80 4.84

2.91 Pakistan 3.25 3.20 3.46 3.63 3.58

2.16 Bangladesh 2.18 2.50 2.69 2.75 2.75

2.04 Egypt 2.16 1.81 1.59 2.00 1.90

0.99 Iran 1.28 1.15 1.37 1.34 1.41

1.05 Philippines 1.27 1.30 1.23 1.36 1.33

1.41 Turkey 1.50 1.21 1.26 1.34 1.29

22.85 Other 24.67 25.33 27.34 27.63 27.36

70.88 Total 75.32 75.08 82.48 84.90 84.79

Exports none

25.19 Indonesia 29.86 29.28 31.61 32.75 32.75

17.90 Malaysia 17.47 17.70 19.56 19.55 19.19

6.41 Argentina 6.28 5.07 6.20 6.80 6.80

4.81 Ukraine 6.11 5.60 6.54 6.68 6.68

2.24 Russia 2.98 3.26 3.85 4.20 4.23

2.93 Canada 3.29 3.34 3.38 3.60 3.60

2.48 European Union 2.40 2.51 2.33 2.51 2.51

11.72 Other 12.85 13.21 12.57 12.92 12.69

73.68 Total 81.25 79.97 86.04 89.01 88.46

Domestic Consumption none

34.72 China 35.73 36.86 38.36 39.09 39.11

26.06 European Union 26.41 26.87 27.67 27.27 27.44

20.99 India 21.67 22.35 23.08 23.85 23.85

14.57 United States 14.72 15.54 15.88 16.34 16.33

11.75 Indonesia 11.93 14.12 16.01 16.26 16.26

7.50 Brazil 7.88 8.43 8.86 9.15 9.09

4.54 Malaysia 4.19 4.89 5.21 5.47 5.41

4.25 Pakistan 4.45 4.54 4.76 4.94 4.94

3.31 Russia 3.40 3.50 3.61 4.01 3.77

2.52 Thailand 2.72 2.88 3.18 3.26 3.39

3.53 Argentina 3.65 3.75 3.36 3.38 3.38

2.35 Bangladesh 2.55 2.80 3.11 3.31 3.31

2.64 Mexico 2.76 2.92 3.03 3.01 3.07

2.36 Japan 2.42 2.45 2.54 2.58 2.58

2.47 Egypt 2.35 2.38 2.42 2.66 2.51

34.36 Other 36.32 37.91 39.06 40.26 40.25

177.92 Total 183.13 192.18 200.12 204.83 204.69

Ending Stocks none

2.50 Indonesia 1.86 3.59 3.29 3.27 3.27

1.79 European Union 1.79 2.10 2.73 2.41 2.51

1.73 Malaysia 2.29 2.76 2.81 2.40 2.31

4.65 China 3.52 2.80 2.02 1.44 1.49

1.77 India 2.34 1.52 1.35 1.25 1.26

8.82 Other 8.75 9.34 9.23 8.44 8.74

21.27 Total 20.55 22.11 21.44 19.21 19.58

Major Vegetable Oils includes Coconut, Cottonseed, Olive, Palm, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflowerseed oil.

Foreign Agricultural Service/USDA 13 January 2020Global Market Analysis

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Table 07: Soybeans: World Supply and Distribution

Thousand Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

Production none

96,500 Brazil 114,600 122,000 117,000 123,000 123,000

106,869 United States 116,931 120,065 120,515 96,615 96,841

58,800 Argentina 55,000 37,800 55,300 53,000 53,000

12,367 China 13,596 15,283 15,967 18,100 18,100

9,217 Paraguay 10,100 10,478 8,850 10,200 10,200

6,929 India 10,992 8,350 10,930 9,000 9,000

6,456 Canada 6,597 7,717 7,267 6,000 6,000

19,431 Other 22,128 20,301 22,447 21,563 21,563

316,569 Total 349,944 341,994 358,276 337,478 337,704

Imports none

83,230 China 93,495 94,095 82,540 85,000 85,000

15,120 European Union 13,441 14,584 15,004 15,200 15,200

4,126 Mexico 4,126 4,873 5,908 5,800 6,000

676 Argentina 1,674 4,703 6,408 3,900 3,900

1,300 Egypt 2,115 3,550 3,350 3,700 3,700

2,798 Thailand 3,078 2,482 3,155 3,400 3,400

3,186 Japan 3,175 3,256 3,300 3,350 3,350

2,274 Indonesia 2,649 2,483 2,725 2,950 2,950

2,476 Taiwan 2,566 2,666 2,730 2,850 2,850

2,283 Turkey 2,271 2,777 2,600 2,800 2,800

15,877 Other 15,626 17,796 18,229 18,987 18,801

133,346 Total 144,216 153,265 145,949 147,937 147,951

Exports none

54,383 Brazil 63,137 76,136 74,947 76,000 76,000

52,869 United States 58,963 58,071 47,564 48,308 48,308

9,922 Argentina 7,025 2,132 9,103 8,200 8,200

5,381 Paraguay 6,129 6,029 5,500 6,200 6,200

4,236 Canada 4,592 4,925 5,258 4,700 4,700

5,761 Other 7,658 5,772 6,849 5,740 5,740

132,552 Total 147,504 153,065 149,221 149,148 149,148

Crush none

81,500 China 88,000 90,000 85,000 84,500 85,000

51,335 United States 51,742 55,926 56,935 57,289 57,289

43,267 Argentina 43,309 36,933 40,567 44,600 44,600

39,747 Brazil 40,411 44,205 42,530 43,750 43,750

14,950 European Union 14,400 14,950 16,150 15,900 15,900

5,500 India 9,000 7,700 9,600 8,000 8,000

4,400 Mexico 4,600 5,250 6,150 5,950 6,200

4,000 Russia 4,400 4,600 4,700 5,000 5,000

3,800 Paraguay 3,750 3,870 3,900 3,900 3,900

1,150 Egypt 2,200 3,200 3,400 3,600 3,600

2,550 Bolivia 2,550 2,300 2,550 2,550 2,550

1,250 Pakistan 1,680 2,300 2,400 2,500 2,500

2,283 Japan 2,392 2,400 2,400 2,430 2,430

1,980 Taiwan 2,045 2,150 2,250 2,350 2,350

1,900 Thailand 1,950 1,400 2,000 2,180 2,180

15,518 Other 15,368 17,711 17,804 18,332 18,332

275,130 Total 287,797 294,895 298,336 302,831 303,581

Ending Stocks none

24,558 Brazil 33,212 32,740 30,263 30,423 31,173

27,156 Argentina 26,996 23,734 28,890 25,890 25,890

16,643 China 20,120 23,064 19,455 20,163 19,730

5,354 United States 8,208 11,923 24,740 12,923 12,915

1,559 European Union 1,150 1,398 1,077 1,067 1,067

4,649 Other 5,346 6,034 5,851 5,931 5,897

79,919 Total 95,032 98,893 110,276 96,397 96,672

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 Jan/Dec MY.

Foreign Agricultural Service/USDA 14 January 2020Global Market Analysis

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Table 08: Soybean Meal: World Supply and Distribution

Thousand Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

Production none

64,548 China 69,696 71,280 67,320 66,924 67,320

40,525 United States 40,630 44,657 44,279 44,904 44,904

33,211 Argentina 33,280 28,400 31,200 34,300 34,300

30,750 Brazil 31,280 34,300 32,960 33,950 33,950

11,811 European Union 11,376 11,811 12,759 12,561 12,561

4,400 India 7,200 6,160 7,680 6,400 6,400

3,480 Mexico 3,635 4,152 4,860 4,700 4,900

27,247 Other 28,837 31,910 33,105 34,264 34,264

215,972 Total 225,934 232,670 234,163 238,003 238,599

Imports none

19,213 European Union 18,794 18,354 18,699 19,000 19,000

5,094 Vietnam 4,945 4,850 5,400 5,450 5,450

4,203 Indonesia 4,255 4,486 4,575 4,700 4,700

2,618 Philippines 2,662 2,750 2,950 3,100 3,100

2,433 Thailand 2,782 3,191 2,889 2,940 2,940

1,420 Iran 1,507 1,113 2,700 2,100 2,100

2,367 Mexico 1,991 1,818 1,932 1,980 1,980

2,118 Korea, South 1,764 1,846 1,900 1,950 1,950

1,291 Malaysia 1,427 1,525 1,600 1,700 1,700

1,721 Japan 1,621 1,728 1,625 1,675 1,675

19,607 Other 18,703 18,466 19,035 20,017 20,042

62,085 Total 60,451 60,127 63,305 64,612 64,637

Exports none

30,333 Argentina 31,323 26,265 28,832 30,850 30,850

15,407 Brazil 13,762 16,032 15,977 15,400 15,400

10,843 United States 10,505 12,715 12,296 11,975 11,975

2,561 Paraguay 2,370 2,625 2,550 2,550 2,550

1,726 Bolivia 1,289 1,651 1,725 1,750 1,750

4,640 Other 5,295 5,558 6,135 5,284 5,279

65,510 Total 64,544 64,846 67,515 67,809 67,804

Domestic Consumption none

62,663 China 68,646 70,105 66,405 66,074 66,420

30,037 United States 30,314 32,239 32,742 33,385 33,385

30,692 European Union 30,242 30,042 30,892 31,192 31,192

16,470 Brazil 16,943 17,311 17,641 18,575 18,275

5,700 Mexico 5,770 5,950 6,625 6,650 6,875

5,470 Vietnam 5,740 5,990 6,245 6,320 6,320

4,460 India 4,675 4,740 5,280 5,350 5,350

4,150 Indonesia 4,250 4,500 4,575 4,700 4,700

4,230 Thailand 4,232 4,250 4,350 4,490 4,490

3,100 Russia 3,200 3,400 3,600 3,700 3,750

3,080 Iran 3,180 3,350 3,500 3,650 3,650

3,460 Japan 3,420 3,450 3,480 3,500 3,500

2,750 Egypt 2,900 3,075 3,275 3,450 3,450

2,672 Argentina 2,853 2,995 3,100 3,280 3,280

2,600 Philippines 2,720 2,850 3,050 3,200 3,200

31,517 Other 32,369 34,436 36,174 37,952 37,977

213,051 Total 221,454 228,683 230,934 235,468 235,814

Ending Stocks none

2,710 Brazil 3,320 4,296 3,660 3,160 3,960

4,231 Argentina 3,335 2,475 1,743 1,913 1,913

249 Iran 207 117 591 475 475

891 European Union 485 213 405 424 424

239 United States 363 504 365 363 363

5,327 Other 6,324 5,697 5,557 4,610 4,804

13,647 Total 14,034 13,302 12,321 10,945 11,939

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, Vietnam and the Philippines are on a January/December MY and Bolivia is on a

March/February MY.

Foreign Agricultural Service/USDA 15 January 2020Global Market Analysis

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Table 09: Soybean Oil: World Supply and Distribution

Thousand Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

Production none

14,605 China 15,770 16,128 15,232 15,142 15,232

9,956 United States 10,035 10,783 10,975 11,077 11,077

8,433 Argentina 8,395 7,236 7,910 8,700 8,700

7,627 Brazil 7,755 8,500 8,160 8,400 8,400

2,841 European Union 2,736 2,841 3,069 3,021 3,021

990 India 1,620 1,386 1,730 1,440 1,440

785 Mexico 820 937 1,100 1,065 1,110

6,318 Other 6,683 7,336 7,672 7,883 7,883

51,555 Total 53,814 55,147 55,848 56,728 56,863

Imports none

4,269 India 3,534 2,984 3,100 3,500 3,500

586 China 711 481 783 1,200 1,200

647 Bangladesh 830 859 1,038 1,050 1,050

732 Algeria 667 720 760 770 770

382 Peru 449 503 500 525 525

465 Morocco 497 492 515 520 520

372 Colombia 352 355 375 390 390

325 European Union 285 284 416 350 350

250 Korea, South 306 276 300 295 295

130 United States 145 152 180 204 204

3,537 Other 3,155 2,715 2,671 2,802 2,782

11,695 Total 10,931 9,821 10,638 11,606 11,586

Exports none

5,698 Argentina 5,387 4,164 5,261 6,000 6,000

1,550 Brazil 1,241 1,511 1,079 1,100 1,100

915 European Union 819 902 787 950 950

1,017 United States 1,159 1,108 881 771 771

709 Paraguay 680 702 710 710 710

431 Russia 529 568 600 600 635

444 Bolivia 338 380 350 370 370

1,005 Other 1,172 1,200 1,378 1,312 1,302

11,769 Total 11,325 10,535 11,046 11,813 11,838

Domestic Consumption none

15,350 China 16,350 16,500 15,885 16,287 16,325

9,145 United States 9,010 9,698 10,374 10,659 10,659

6,288 Brazil 6,570 6,940 7,191 7,350 7,350

5,250 India 5,150 4,720 4,810 4,950 4,950

2,840 Argentina 2,985 3,081 2,684 2,689 2,689

2,285 European Union 2,205 2,225 2,455 2,455 2,455

785 Bangladesh 1,010 1,085 1,245 1,379 1,379

1,020 Mexico 1,070 1,100 1,225 1,230 1,235

960 Egypt 610 710 735 780 780

700 Algeria 710 710 750 765 765

415 Pakistan 470 495 536 572 572

405 Peru 435 468 500 525 525

480 Morocco 470 496 505 510 510

440 Korea, South 450 470 490 495 495

451 Japan 470 475 480 480 480

5,376 Other 5,449 5,532 5,469 5,717 5,697

52,190 Total 53,414 54,705 55,334 56,843 56,866

Ending Stocks none

765 United States 776 905 805 656 656

657 China 670 568 501 406 458

164 European Union 161 159 402 368 368

287 Brazil 291 385 325 325 325

260 Argentina 283 274 239 250 250

1,617 Other 1,575 1,193 1,318 1,276 1,278

3,750 Total 3,756 3,484 3,590 3,281 3,335

Most countries are on an October/September Marketing Year (MY). Mexico is on a September/August MY. Paraguay and Peru are

on an January/December MY and Bolivia is on a March/February MY.

Foreign Agricultural Service/USDA 16 January 2020Global Market Analysis

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Table 10: Soybeans and Products: World Trade

Thousand Metric Tons

Marketing Year

Meal, Soybean Oil, Soybean Oilseed, Soybean

2019/202018/192017/182019/202018/192017/182019/202018/192017/18

Exports

North America 13,087 12,729 12,285 1,291 1,063 951 62,996 52,822 53,008

Canada (Aug-Jul) 357 425 300 157 169 165 4,925 5,258 4,700

United States (Oct-Sep) 12,715 12,296 11,975 1,108 881 771 58,071 47,564 48,308

South America 46,573 49,090 50,555 6,769 7,412 8,192 85,561 92,318 92,548

Argentina (Oct-Sep) 26,265 28,832 30,850 4,164 5,261 6,000 2,132 9,103 8,200

Brazil (Oct-Sep) 16,032 15,977 15,400 1,511 1,079 1,100 76,136 74,947 76,000

Paraguay (Jan-Dec) 2,625 2,550 2,550 702 710 710 6,029 5,500 6,200

South Asia 1,869 2,207 1,457 7 7 6 217 178 150

India (Oct-Sep) 1,863 2,200 1,450 7 7 6 217 178 150

Other 3,317 3,489 3,507 2,468 2,564 2,689 4,291 3,903 3,442

World Total 64,846 67,515 67,804 10,535 11,046 11,838 153,065 149,221 149,148

Imports

European Union (Oct-Sep) 18,354 18,699 19,000 284 416 350 14,584 15,004 15,200

East Asia 3,639 3,587 3,725 904 1,240 1,650 101,275 89,937 92,653

China (Oct-Sep) 23 17 50 481 783 1,200 94,095 82,540 85,000

Japan (Oct-Sep) 1,728 1,625 1,675 7 9 5 3,256 3,300 3,350

Korea, South (Oct-Sep) 1,846 1,900 1,950 276 300 295 1,256 1,365 1,450

Taiwan (Oct-Sep) 24 25 25 0 0 0 2,666 2,730 2,850

Southeast Asia 16,830 17,442 17,919 231 250 266 7,700 8,711 9,306

Indonesia (Oct-Sep) 4,486 4,575 4,700 30 34 38 2,483 2,725 2,950

Malaysia (Oct-Sep) 1,525 1,600 1,700 88 100 110 690 770 825

Philippines (Jan-Dec) 2,750 2,950 3,100 45 47 48 200 240 260

Thailand (Sep-Aug) 3,191 2,889 2,940 0 1 1 2,482 3,155 3,400

Vietnam (Jan-Dec) 4,850 5,400 5,450 50 50 50 1,824 1,800 1,850

North America 3,278 3,570 3,484 368 345 372 5,954 7,463 7,308

Canada (Aug-Jul) 1,022 1,018 1,050 21 23 23 487 1,172 900

Mexico (Sep-Aug) 1,818 1,932 1,980 195 142 145 4,873 5,908 6,000

South America 5,214 5,294 5,530 1,317 1,365 1,411 6,153 7,721 5,335

Brazil (Oct-Sep) 19 22 25 45 50 50 175 140 150

Colombia (Oct-Sep) 1,373 1,425 1,500 355 375 390 550 575 620

Central America 1,253 1,320 1,380 156 166 174 289 339 356

Caribbean 1,019 1,056 1,092 309 328 343 151 155 160

Middle East 3,800 5,865 5,470 328 248 285 6,425 5,675 5,800

Iran (Oct-Sep) 1,113 2,700 2,100 213 135 165 2,559 2,000 1,850

Israel (Oct-Sep) 135 150 165 10 10 10 439 430 450

Syria (Jan-Dec) 4 0 0 7 5 7 15 15 15

Turkey (Oct-Sep) 557 700 780 0 0 0 2,777 2,600 2,800

North Africa 3,007 2,480 2,841 1,534 1,464 1,548 4,260 4,100 4,510

Egypt (Oct-Sep) 684 225 425 227 83 150 3,550 3,350 3,700

Other 3,733 3,992 4,196 4,390 4,816 5,187 6,474 6,844 7,323

World Total 60,127 63,305 64,637 9,821 10,638 11,586 153,265 145,949 147,951

Foreign Agricultural Service/USDA 17 January 2020Global Market Analysis

Page 18: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 11: Palm Oil: World Supply and Distribution

Thousand Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

Production none

32,000 Indonesia 36,000 39,500 41,500 43,000 43,000

17,700 Malaysia 18,858 19,683 20,800 21,000 20,500

1,804 Thailand 2,500 2,780 2,900 3,000 3,000

1,268 Colombia 1,099 1,633 1,625 1,680 1,680

955 Nigeria 990 1,025 1,015 1,015 1,015

5,129 Other 5,735 6,004 6,058 5,999 5,999

58,856 Total 65,182 70,625 73,898 75,694 75,194

Imports none

8,860 India 9,341 8,608 9,710 10,000 10,000

6,717 European Union 7,217 7,079 7,630 7,100 7,375

4,689 China 4,881 5,320 6,795 7,200 7,200

2,720 Pakistan 3,075 3,093 3,275 3,500 3,450

1,511 Bangladesh 1,347 1,637 1,650 1,700 1,700

1,307 United States 1,367 1,527 1,531 1,550 1,550

1,038 Egypt 1,323 1,095 1,023 1,350 1,250

941 Philippines 1,131 1,185 1,122 1,250 1,220

695 Kenya 767 764 909 900 920

788 Burma 809 847 945 890 910

13,436 Other 14,616 15,366 16,783 16,854 16,561

42,702 Total 45,874 46,521 51,373 52,294 52,136

Exports none

22,906 Indonesia 27,633 26,967 29,200 30,300 30,300

16,667 Malaysia 16,313 16,472 18,364 18,350 18,000

659 Guatemala 724 802 828 815 810

420 Colombia 502 697 677 770 770

546 Papua New Guinea 580 650 660 520 520

2,638 Other 3,052 3,036 2,866 3,463 3,271

43,836 Total 48,804 48,624 52,595 54,218 53,671

Domestic Consumption none

9,270 Indonesia 9,160 11,000 12,625 12,750 12,750

9,100 India 9,350 9,270 9,805 10,185 10,185

6,600 European Union 6,800 6,900 7,360 7,100 7,275

4,800 China 4,750 5,100 7,012 7,220 7,220

3,000 Malaysia 2,587 3,233 3,504 3,685 3,675

2,795 Pakistan 2,995 3,145 3,295 3,495 3,495

1,919 Thailand 2,135 2,343 2,565 2,590 2,720

1,391 Bangladesh 1,364 1,580 1,690 1,750 1,750

1,269 United States 1,355 1,563 1,501 1,518 1,518

1,320 Nigeria 1,240 1,290 1,340 1,390 1,390

930 Philippines 1,220 1,250 1,280 1,340 1,300

1,100 Egypt 1,150 1,155 1,175 1,350 1,200

915 Colombia 965 1,030 1,085 1,130 1,155

788 Burma 800 850 900 890 950

745 Vietnam 786 861 877 897 897

13,750 Other 14,866 15,849 16,678 17,328 17,232

59,692 Total 61,523 66,419 72,692 74,618 74,712

Ending Stocks none

2,258 Indonesia 1,470 3,004 2,679 2,629 2,629

1,460 Malaysia 2,016 2,529 2,543 2,040 2,018

425 European Union 708 741 876 731 831

499 India 690 228 333 338 348

151 Russia 131 145 324 372 339

3,371 Other 3,878 4,349 4,225 3,558 3,762

8,164 Total 8,893 10,996 10,980 9,668 9,927

Foreign Agricultural Service/USDA 18 January 2020Global Market Analysis

Page 19: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 12: Rapeseed and Products: World Supply and Distribution

Thousand Metric Tons

Marketing Year

Meal, Rapeseed Oil, Rapeseed Oilseed, Rapeseed

2019/202018/192017/182019/202018/192017/182019/202018/192017/18

Production

China (Oct-Sep) 10,209 9,722 9,265 6,747 6,425 6,123 13,274 13,281 13,100

India (Oct-Sep) 3,700 4,050 4,050 2,356 2,584 2,584 7,100 8,000 7,700

Canada (Aug-Jul) 5,230 5,240 5,355 4,120 4,065 4,225 21,328 20,343 19,000

Japan (Oct-Sep) 1,307 1,330 1,335 1,023 1,040 1,045 4 4 4

European Union (Jul-Jun) 13,851 13,224 12,483 10,157 9,698 9,154 22,184 20,033 17,000

Other 5,252 5,324 5,531 3,708 3,710 3,847 11,101 10,708 10,920

World Total 39,549 38,890 38,019 28,111 27,522 26,978 74,991 72,369 67,724

Imports

China (Oct-Sep) 1,258 1,437 1,350 1,067 1,507 1,570 4,715 3,486 3,100

India (Oct-Sep) 0 0 0 278 125 120 0 0 0

Canada (Aug-Jul) 17 7 7 14 16 15 108 146 100

Japan (Oct-Sep) 6 7 7 19 20 20 2,384 2,384 2,400

European Union (Jul-Jun) 242 521 530 158 246 275 4,150 4,232 5,000

Other 4,705 4,786 4,965 2,956 3,030 3,089 4,113 4,045 4,006

World Total 6,228 6,758 6,859 4,492 4,944 5,089 15,470 14,293 14,606

Exports

China (Oct-Sep) 14 11 15 16 15 15 0 0 0

India (Oct-Sep) 864 900 900 3 4 3 0 0 0

Canada (Aug-Jul) 4,537 4,620 4,740 3,170 3,200 3,425 10,849 9,141 9,500

Japan (Oct-Sep) 0 0 0 1 1 1 0 0 0

European Union (Jul-Jun) 460 447 400 271 210 150 131 89 50

Other 499 777 877 1,144 1,526 1,468 5,214 5,372 5,421

World Total 6,374 6,755 6,932 4,605 4,956 5,062 16,194 14,602 14,971

Domestic Consumption

China (Oct-Sep) 11,453 11,148 10,600 8,600 8,387 8,110 17,850 17,025 16,250

India (Oct-Sep) 2,875 3,200 3,150 2,830 2,730 2,700 7,170 7,800 7,800

Canada (Aug-Jul) 680 650 640 970 980 995 9,430 9,753 9,950

Japan (Oct-Sep) 1,320 1,340 1,350 1,040 1,060 1,075 2,355 2,395 2,405

European Union (Jul-Jun) 13,700 13,275 12,600 10,100 9,700 9,400 25,300 24,200 22,800

Other 9,368 9,430 9,616 5,487 5,349 5,472 9,590 9,938 9,915

World Total 39,396 39,043 37,956 29,027 28,206 27,752 71,695 71,111 69,120

Ending Stocks

China (Oct-Sep) 0 0 0 1,741 1,271 839 1,203 945 895

India (Oct-Sep) 447 397 397 168 143 144 369 569 469

Canada (Aug-Jul) 117 94 76 487 388 208 2,499 4,094 3,744

Japan (Oct-Sep) 52 49 41 28 27 16 54 47 46

European Union (Jul-Jun) 206 229 242 258 292 171 1,778 1,754 904

Other 278 181 184 452 317 313 1,688 1,131 721

World Total 1,100 950 940 3,134 2,438 1,691 7,591 8,540 6,779

Foreign Agricultural Service/USDA 19 January 2020Global Market Analysis

Page 20: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 13: Sunflowerseed and Products: World Supply and Distribution

Thousand Metric Tons

Marketing Year

Oilseed, Sunflowerseed Meal, Sunflowerseed Oil, Sunflowerseed

2019/202018/192017/182019/202018/192017/182019/202018/192017/18

Production

Argentina (Mar-Feb) 3,538 3,825 3,200 1,341 1,450 1,350 1,360 1,465 1,365

Russia (Sep-Aug) 10,362 12,710 15,300 4,167 4,823 5,630 4,192 4,853 5,650

Turkey (Sep-Aug) 1,550 1,800 1,750 1,128 1,293 1,238 892 1,022 979

Ukraine (Sep-Aug) 13,700 15,000 15,500 5,679 6,112 6,278 5,913 6,364 6,536

European Union (Oct-Sep) 10,128 9,513 9,750 4,806 4,752 4,752 3,760 3,718 3,718

Other 8,568 7,705 8,540 2,779 2,351 2,811 2,395 2,039 2,380

World Total 47,846 50,553 54,040 19,900 20,781 22,059 18,512 19,461 20,628

Imports

Argentina (Mar-Feb) 1 0 0 0 0 0 0 0 0

Russia (Sep-Aug) 47 52 55 39 10 20 30 10 20

Turkey (Sep-Aug) 720 1,027 750 931 910 925 503 533 550

Ukraine (Sep-Aug) 30 23 30 9 5 1 1 0 0

European Union (Oct-Sep) 512 544 600 3,485 3,676 3,600 1,529 1,966 1,800

Other 840 966 1,033 2,121 3,146 3,321 6,476 7,044 7,415

World Total 2,150 2,612 2,468 6,585 7,747 7,867 8,539 9,553 9,785

Exports

Argentina (Mar-Feb) 55 150 100 760 900 725 783 825 672

Russia (Sep-Aug) 98 345 350 1,203 1,573 1,850 2,310 2,651 3,010

Turkey (Sep-Aug) 56 51 75 7 23 20 389 436 375

Ukraine (Sep-Aug) 39 105 150 4,238 4,808 4,850 5,341 6,063 6,200

European Union (Oct-Sep) 630 608 575 406 391 450 526 485 540

Other 1,577 1,738 1,582 362 302 296 583 561 517

World Total 2,455 2,997 2,832 6,976 7,997 8,191 9,932 11,021 11,314

Domestic Consumption

Argentina (Mar-Feb) 3,432 3,710 3,475 561 590 610 647 649 674

Russia (Sep-Aug) 10,456 12,200 14,315 3,050 3,300 3,750 2,023 2,225 2,427

Turkey (Sep-Aug) 2,172 2,527 2,397 2,000 2,180 2,155 980 1,155 1,155

Ukraine (Sep-Aug) 13,940 14,950 15,350 1,350 1,500 1,500 580 280 280

European Union (Oct-Sep) 9,990 9,870 9,870 7,860 7,920 7,935 4,643 4,963 5,013

Other 8,089 7,076 7,965 4,580 5,222 5,821 8,271 8,797 9,341

World Total 48,079 50,333 53,372 19,401 20,712 21,771 17,144 18,069 18,890

Ending Stocks

Argentina (Mar-Feb) 1,190 1,155 780 70 30 45 53 44 63

Russia (Sep-Aug) 179 396 1,086 303 263 313 109 96 329

Turkey (Sep-Aug) 91 340 368 203 203 191 58 22 21

Ukraine (Sep-Aug) 172 140 170 534 343 272 118 139 195

European Union (Oct-Sep) 665 244 149 374 491 458 339 575 540

Other 635 492 518 105 78 93 1,125 850 787

World Total 2,932 2,767 3,071 1,589 1,408 1,372 1,802 1,726 1,935

Foreign Agricultural Service/USDA 20 January 2020Global Market Analysis

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Table 14: Minor Vegetable Oils: World Supply and Distribution

Thousand Metric Tons

Marketing Year

Oil, Peanut Oil, Cottonseed Oil, Olive

2019/202018/192017/182019/202018/192017/182019/202018/192017/18

Production

China (Oct-Sep) 2,864 2,928 2,944 1,382 1,374 1,356 5 5 5

India (Oct-Sep) 1,220 1,090 1,190 1,325 1,225 1,400 nr nr nr

Turkey (Nov-Oct) 7 7 7 232 240 198 263 220 250

United States (Aug-Jul) 105 99 106 255 207 236 16 16 16

European Union (Oct-Sep) 13 11 12 44 45 53 2,200 2,240 2,310

Other 1,687 1,723 1,738 1,940 2,028 1,945 771 605 779

World Total 5,896 5,858 5,997 5,178 5,119 5,188 3,255 3,086 3,360

Imports

China (Oct-Sep) 112 172 160 0 0 0 42 49 55

India (Oct-Sep) 0 0 0 3 3 0 nr nr nr

Turkey (Nov-Oct) 0 0 0 0 0 0 0 0 0

United States (Aug-Jul) 32 27 32 0 0 0 322 355 356

European Union (Oct-Sep) 70 69 70 1 1 1 211 170 220

Other 23 24 24 59 47 54 341 358 384

World Total 237 292 286 63 51 55 916 932 1,015

Exports

China (Oct-Sep) 10 9 10 0 4 2 0 0 0

India (Oct-Sep) 19 9 12 0 0 0 nr nr nr

Turkey (Nov-Oct) 0 0 0 1 8 3 74 70 75

United States (Aug-Jul) 5 4 5 45 40 50 11 7 10

European Union (Oct-Sep) 4 2 4 1 1 1 645 690 700

Other 239 238 263 53 59 60 312 228 336

World Total 277 262 294 100 112 116 1,042 995 1,121

Domestic Consumption

China (Oct-Sep) 2,966 3,091 3,094 1,382 1,370 1,354 47 54 60

India (Oct-Sep) 1,090 1,150 1,210 1,345 1,230 1,395 nr nr nr

Turkey (Nov-Oct) 7 7 7 234 234 195 160 150 175

United States (Aug-Jul) 132 122 133 215 166 182 327 364 362

European Union (Oct-Sep) 79 79 79 44 45 53 1,570 1,720 1,820

Other 1,460 1,491 1,500 1,902 2,014 1,966 758 782 809

World Total 5,734 5,940 6,023 5,122 5,059 5,145 2,862 3,070 3,226

Ending Stocks

China (Oct-Sep) 0 0 0 0 0 0 0 0 0

India (Oct-Sep) 385 316 284 21 19 24 nr nr nr

Turkey (Nov-Oct) 0 0 0 2 0 0 52 52 52

United States (Aug-Jul) 11 11 11 15 16 20 0 0 0

European Union (Oct-Sep) 5 4 3 0 0 0 369 369 379

Other 90 108 107 91 93 66 187 140 158

World Total 491 439 405 129 128 110 608 561 589

Foreign Agricultural Service/USDA 21 January 2020Global Market Analysis

Page 22: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 15: World Oilseeds and Products Supply and Distribution

Million Metric Tons

Area

Harvested

Beginning

Stocks

Productio

n

Imports Total

Supply

Exports Food Use

Dom.

Domestic

Consumpti

Ending

Stocks

Major Oilseeds

405.56 31.3382.89554.2480.8367.85223.40 2006/07 394.19 77.16

393.14 31.9291.74560.7590.4577.16220.36 2007/08 403.31 65.69

399.73 33.7894.15559.9894.5565.69230.88 2008/09 405.31 60.52

447.22 34.61107.60610.34102.6060.52235.72 2009/10 425.37 77.36

460.46 35.86108.32642.85105.0377.36245.72 2010/11 445.98 88.55

446.75 36.08110.97648.45113.1588.55248.79 2011/12 465.73 71.75

474.60 36.46118.10661.12114.7871.75256.67 2012/13 471.06 71.96

503.28 37.27133.76708.79133.5571.96260.93 2013/14 494.09 80.94

538.56 38.85147.18763.09143.5980.94267.17 2014/15 520.61 95.31

524.31 40.27153.32773.13153.5295.31264.97 2015/16 526.39 93.42

574.73 41.76170.56834.33166.1893.42267.98 2016/17 554.59 109.18

581.45 42.82176.28865.43174.80109.18280.49 2017/18 572.67 116.48

596.64 43.76171.47879.95166.83116.48282.49 2018/19 579.95 128.54

574.63 44.75171.60872.33169.17128.54278.31 2019/20 588.41 112.32

Major Protein Meals

224.21 0.2869.25300.4067.308.89nr 2006/07 220.84 10.32

231.94 0.2972.93312.6970.4310.32nr 2007/08 229.37 10.38

230.11 0.3270.15308.9368.4410.38nr 2008/09 230.22 8.55

244.51 0.4072.70323.5170.448.55nr 2009/10 240.58 10.23

257.33 0.3377.92342.6875.1310.23nr 2010/11 251.80 12.97

267.38 0.4081.13359.5679.2112.97nr 2011/12 263.73 14.69

269.15 0.4379.40358.6074.7614.69nr 2012/13 266.29 12.90

282.55 0.4483.37375.8180.3612.90nr 2013/14 277.96 14.49

300.50 0.4586.41397.4482.4514.49nr 2014/15 292.96 18.07

305.26 0.4887.04406.7683.4318.07nr 2015/16 302.31 17.41

320.11 0.5188.17422.3384.8117.41nr 2016/17 316.51 17.66

331.71 0.5589.16434.4785.1117.66nr 2017/18 327.98 17.33

333.27 0.6093.91441.1090.5017.33nr 2018/19 331.52 15.67

338.87 0.6194.38446.7092.1615.67nr 2019/20 337.05 15.28

Major Vegetable Oils

122.79 96.3550.29183.5946.6314.1714.20 2006/07 118.63 14.67

129.98 99.6254.45194.6249.9814.6714.73 2007/08 125.20 14.98

135.18 103.2456.64203.8053.6414.9815.61 2008/09 131.18 15.98

142.46 107.5358.81214.0955.6515.9816.46 2009/10 138.21 17.07

149.08 109.9360.75223.2157.0617.0717.50 2010/11 142.57 19.89

158.06 115.9164.81239.8061.8519.8918.47 2011/12 151.68 23.31

161.22 121.0868.33249.9365.4023.3119.12 2012/13 158.55 23.05

171.49 125.6270.19261.6767.1323.0519.98 2013/14 166.53 24.95

177.03 131.2476.52272.8570.8724.9520.78 2014/15 170.63 25.70

176.29 135.4773.68272.8770.8825.7021.69 2015/16 177.92 21.27

188.33 139.7081.25284.9275.3221.2722.39 2016/17 183.13 20.55

198.64 144.5979.97294.2675.0820.5523.26 2017/18 192.18 22.11

203.02 149.5986.04307.6082.4822.1123.74 2018/19 200.12 21.44

206.50 153.6888.46312.7284.7921.4424.28 2019/20 204.69 19.58

Based on the aggregate of different marketing years

Foreign Agricultural Service/USDA 22 January 2020Global Market Analysis

Page 23: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 16: World Soybeans and Products Supply and Distribution

Million Metric Tons

Area

Harvested

Beginning

Stocks

Productio

n

Imports Total

Supply

Exports Crush Domestic

Consumpti

Ending

Stocks

Oilseed, Soybean

235.70 195.5570.91360.1169.0555.3794.93 2006/07 224.38 64.82

219.23 202.6378.70362.7378.6864.8291.10 2007/08 229.67 54.36

212.23 194.8676.71344.5077.9054.3696.57 2008/09 222.45 45.34

260.97 210.4892.06393.8287.5145.34102.75 2009/10 239.16 62.60

264.73 222.2291.58417.1289.7962.60103.63 2010/11 252.53 73.01

240.83 229.1391.77408.4094.5573.01103.15 2011/12 259.19 57.43

268.96 231.81100.38423.5897.2057.43110.29 2012/13 265.12 58.08

283.20 242.86112.74454.35113.0758.08112.91 2013/14 277.80 63.81

320.73 264.75126.23508.90124.3663.81118.85 2014/15 303.87 78.80

316.57 275.13132.55528.72133.3578.80120.74 2015/16 316.25 79.92

349.94 287.80147.50574.08144.2279.92119.84 2016/17 331.54 95.03

341.99 294.90153.07590.29153.2795.03124.48 2017/18 338.33 98.89

358.28 298.34149.22603.12145.9598.89125.49 2018/19 343.62 110.28

337.70 303.58149.15595.93147.95110.28122.73 2019/20 350.11 96.67

Meal, Soybean

153.81 195.5754.84212.6952.746.14nr 2006/07 150.41 7.43

159.01 202.6556.50221.2254.787.43nr 2007/08 156.97 7.75

153.08 194.9453.27212.4951.677.75nr 2008/09 153.92 5.31

165.78 210.5655.94224.6353.545.31nr 2009/10 161.74 6.96

175.03 222.3158.89238.8556.876.96nr 2010/11 170.65 9.31

180.89 229.2458.71247.2257.029.31nr 2011/12 177.75 10.76

182.25 232.0458.39247.0854.0710.76nr 2012/13 178.84 9.85

190.45 243.1160.67258.0757.779.85nr 2013/14 186.47 10.93

208.48 265.0364.41280.0460.6310.93nr 2014/15 201.48 14.15

215.97 275.5265.51292.2162.0914.15nr 2015/16 213.05 13.65

225.93 288.3264.54300.0360.4513.65nr 2016/17 221.45 14.03

232.67 295.6964.85306.8360.1314.03nr 2017/18 228.68 13.30

234.16 299.2067.52310.7763.3113.30nr 2018/19 230.93 12.32

238.60 304.5067.80315.5664.6412.32nr 2019/20 235.81 11.94

Oil, Soybean

36.41 195.5510.5050.009.773.82nr 2006/07 35.45 4.05

37.79 202.6310.8852.1310.294.05nr 2007/08 37.28 3.97

36.16 194.869.2149.149.003.97nr 2008/09 36.34 3.59

38.97 210.489.1951.058.483.59nr 2009/10 38.16 3.70

41.48 222.229.6254.569.383.70nr 2010/11 40.48 4.46

42.82 229.138.5355.288.004.46nr 2011/12 42.46 4.29

43.34 231.919.3356.148.514.29nr 2012/13 42.59 4.22

45.24 242.959.4258.739.274.22nr 2013/14 45.31 3.99

49.28 264.8511.1263.3110.043.99nr 2014/15 47.74 4.46

51.56 275.2811.7767.7111.704.46nr 2015/16 52.19 3.75

53.81 288.0111.3368.5010.933.75nr 2016/17 53.41 3.76

55.15 295.1310.5468.729.823.76nr 2017/18 54.71 3.48

55.85 298.5911.0569.9710.643.48nr 2018/19 55.33 3.59

56.86 303.8611.8472.0411.593.59nr 2019/20 56.87 3.34

Based on the aggregate of different marketing years, primarily October through September.

Foreign Agricultural Service/USDA 23 January 2020Global Market Analysis

Page 24: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 17: World Rapeseed and Products Supply and Distribution

Million Metric Tons

Area

Harvested

Beginning

Stocks

Productio

n

Imports Total

Supply

Exports Food Use

Dom.

Domestic

Consumpti

Ending

Stocks

Oilseed, Rapeseed

45.75 0.356.6558.417.025.6326.76 2006/07 46.57 5.20

49.15 0.358.1861.917.575.2029.15 2007/08 49.20 4.53

58.17 0.4012.2074.8412.154.5331.20 2008/09 54.99 7.66

60.79 0.4210.9079.2610.817.6630.65 2009/10 59.66 8.70

60.52 0.4510.9379.4010.188.7033.58 2010/11 59.79 8.68

61.23 0.4512.9983.1513.248.6833.30 2011/12 63.34 6.83

63.31 0.4712.5682.9712.836.8335.79 2012/13 64.90 5.50

70.59 0.4915.0991.6415.555.5035.67 2013/14 68.83 7.73

70.43 0.5515.0792.4714.327.7335.05 2014/15 70.14 7.26

68.74 0.6514.3490.1414.157.2633.31 2015/16 69.64 6.16

69.50 0.6515.8091.1715.516.1633.43 2016/17 70.36 5.02

74.99 0.6516.1995.4815.475.0236.55 2017/18 71.70 7.59

72.37 0.6514.6094.2514.297.5936.59 2018/19 71.11 8.54

67.72 0.6514.9790.8714.618.5434.48 2019/20 69.12 6.78

Meal, Rapeseed

25.55 0.003.0029.603.210.83nr 2006/07 25.85 0.75

27.22 0.003.9331.853.880.75nr 2007/08 27.27 0.64

30.36 0.003.7534.783.770.64nr 2008/09 30.22 0.80

32.90 0.003.6337.593.880.80nr 2009/10 32.71 1.25

33.39 0.005.2839.975.331.25nr 2010/11 33.64 1.06

34.92 0.005.5641.545.561.06nr 2011/12 34.88 1.10

35.97 0.005.7042.695.611.10nr 2012/13 36.01 0.99

38.32 0.006.3545.816.500.99nr 2013/14 38.53 0.93

38.73 0.006.0745.676.010.93nr 2014/15 38.60 1.00

38.61 0.005.6945.335.721.00nr 2015/16 38.53 1.11

38.82 0.005.9845.835.901.11nr 2016/17 38.76 1.09

39.55 0.006.3746.876.231.09nr 2017/18 39.40 1.10

38.89 0.006.7646.756.761.10nr 2018/19 39.04 0.95

38.02 0.006.9345.836.860.95nr 2019/20 37.96 0.94

Oil, Rapeseed

17.79 13.222.0021.002.211.00nr 2006/07 18.19 0.81

18.95 13.521.9121.812.050.81nr 2007/08 18.80 1.10

21.33 14.412.4724.912.481.10nr 2008/09 20.99 1.45

23.23 15.232.7527.632.961.45nr 2009/10 22.75 2.13

23.41 15.663.4328.923.382.13nr 2010/11 23.20 2.28

24.72 16.423.9831.084.082.28nr 2011/12 23.79 3.30

25.39 16.483.9532.633.933.30nr 2012/13 23.74 4.94

27.02 17.763.8335.763.804.94nr 2013/14 25.67 6.26

27.43 18.884.0737.633.946.26nr 2014/15 27.05 6.52

27.35 19.814.1737.984.126.52nr 2015/16 28.18 5.64

27.55 20.354.5037.584.395.64nr 2016/17 28.92 4.16

28.11 20.474.6136.774.494.16nr 2017/18 29.03 3.13

27.52 20.134.9635.604.943.13nr 2018/19 28.21 2.44

26.98 19.945.0634.515.092.44nr 2019/20 27.75 1.69

Based on the aggregate of different marketing years.

Foreign Agricultural Service/USDA 24 January 2020Global Market Analysis

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Table 18: World Sunflower and Products Supply and Distribution

Million Metric Tons

Area

Harvested

Beginning

Stocks

Productio

n

Imports Exports Domestic

Consumpti

Ending

Stocks

Oilseed, Sunflowerseed

30.08 4.0229.441.911.813.4823.45 2006/07

27.62 3.7227.751.461.294.0221.44 2007/08

33.12 3.8532.762.151.923.7223.89 2008/09

31.59 2.6032.861.551.563.8522.97 2009/10

32.75 2.2632.931.781.622.6023.09 2010/11

38.71 2.5438.201.931.702.2624.64 2011/12

34.94 2.7834.611.451.362.5423.60 2012/13

41.12 3.2440.321.961.622.7824.03 2013/14

39.28 2.9339.481.661.563.2423.13 2014/15

40.71 2.7940.712.011.872.9323.47 2015/16

48.23 3.4747.262.472.172.7925.92 2016/17

47.85 2.9348.082.462.153.4725.92 2017/18

50.55 2.7750.333.002.612.9325.94 2018/19

54.04 3.0753.372.832.472.7726.47 2019/20

Meal, Sunflowerseed

11.87 0.2411.903.493.440.31nr 2006/07

11.26 0.3010.843.312.960.24nr 2007/08

13.08 0.8112.474.304.200.30nr 2008/09

13.42 1.0012.834.093.690.81nr 2009/10

13.31 1.0712.724.574.061.00nr 2010/11

15.60 1.7014.606.806.421.07nr 2011/12

14.15 0.8014.835.134.931.70nr 2012/13

16.70 1.4515.606.225.760.80nr 2013/14

16.16 1.6915.585.875.531.45nr 2014/15

16.49 1.7216.186.245.951.69nr 2015/16

19.33 1.4819.097.446.971.72nr 2016/17

19.90 1.5919.406.986.591.48nr 2017/18

20.78 1.4120.718.007.751.59nr 2018/19

22.06 1.3721.778.197.871.41nr 2019/20

Oil, Sunflowerseed

10.74 1.2010.164.053.461.21nr 2006/07

10.26 1.209.513.532.781.20nr 2007/08

11.89 1.9410.754.554.151.20nr 2008/09

12.12 1.9011.464.503.811.94nr 2009/10

12.08 1.8311.324.543.701.90nr 2010/11

14.35 3.0312.496.485.831.83nr 2011/12

12.86 2.3013.195.575.163.03nr 2012/13

15.55 2.9514.067.796.962.30nr 2013/14

14.97 2.5814.127.396.182.95nr 2014/15

15.38 1.6815.208.107.022.58nr 2015/16

18.15 1.8316.4910.408.881.68nr 2016/17

18.51 1.8017.149.938.541.83nr 2017/18

19.46 1.7318.0711.029.551.80nr 2018/19

20.63 1.9418.8911.319.791.73nr 2019/20

Based on the aggregate of different marketing years, primarily September through August.

Foreign Agricultural Service/USDA 25 January 2020Global Market Analysis

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Table 19: World Palm Oil, Coconut Oil, and Fish Meal Supply and Distribution

Million Metric Tons

Beginning

Stocks

Productio

n

Imports Total

Supply

Exports Industrial

Dom.

Food Use

Dom.

Domestic

Consumpti

Ending

Stocks

Oil, Palm

26.15 26.737.5728.3969.3137.625.54 2006/07 34.80 6.13

29.83 29.488.8532.4977.4041.456.13 2007/08 38.90 6.02

33.02 31.949.6335.0083.5344.496.02 2008/09 42.23 6.31

34.56 33.5210.0636.3387.2546.386.31 2009/10 44.18 6.74

35.35 34.2110.7337.3491.3049.216.74 2010/11 45.51 8.45

38.46 36.8412.4739.8599.4552.558.45 2011/12 49.95 9.65

41.97 40.3414.6543.05107.9856.379.65 2012/13 55.64 9.29

41.85 41.0516.3143.14110.4259.289.29 2013/14 58.01 9.28

44.61 43.3314.1347.37115.6761.789.28 2014/15 58.16 10.13

42.70 42.6116.3743.84111.6958.8610.13 2015/16 59.69 8.16

45.87 44.4916.2748.80119.2265.188.16 2016/17 61.52 8.89

46.52 46.7718.8248.62126.0470.638.89 2017/18 66.42 11.00

51.37 50.5821.2452.60136.2773.9011.00 2018/19 72.69 10.98

52.14 52.4821.7153.67138.3175.1910.98 2019/20 74.71 9.93

Oil, Coconut

1.88 1.661.431.745.413.070.46 2006/07 3.18 0.49

1.91 1.781.511.935.803.400.49 2007/08 3.32 0.55

1.67 1.651.561.485.593.360.55 2008/09 3.25 0.86

2.30 2.081.702.076.633.470.86 2009/10 3.82 0.75

1.80 1.861.671.806.143.590.75 2010/11 3.57 0.77

1.84 1.921.541.866.003.390.77 2011/12 3.49 0.64

1.89 1.981.701.936.163.620.64 2012/13 3.72 0.51

1.74 1.741.541.915.633.380.51 2013/14 3.32 0.40

1.82 1.741.501.945.593.370.40 2014/15 3.28 0.38

1.61 1.671.531.595.303.310.38 2015/16 3.23 0.47

1.50 1.551.491.915.363.390.47 2016/17 3.07 0.39

1.71 1.671.681.735.753.660.39 2017/18 3.38 0.64

1.73 1.731.711.856.043.670.64 2018/19 3.47 0.72

1.79 1.811.721.786.093.580.72 2019/20 3.56 0.75

Meal, Fish

2.82 0.000.052.658.695.140.73 2006/07 5.08 0.97

3.17 0.000.052.949.275.140.97 2007/08 5.50 0.83

3.26 0.000.053.089.295.200.83 2008/09 5.51 0.71

2.76 0.000.052.417.714.240.71 2009/10 5.03 0.28

2.77 0.000.052.698.605.550.28 2010/11 5.22 0.69

3.05 0.000.052.808.444.710.69 2011/12 5.36 0.28

2.47 0.000.052.327.594.840.28 2012/13 4.81 0.45

2.74 0.000.052.477.644.450.45 2013/14 4.94 0.23

2.50 0.000.052.287.424.690.23 2014/15 4.87 0.26

2.46 0.000.052.217.244.510.26 2015/16 4.75 0.27

3.07 0.000.052.538.214.870.27 2016/17 5.42 0.26

3.01 0.000.052.508.214.940.26 2017/18 5.28 0.43

3.06 0.000.052.608.134.640.43 2018/19 5.32 0.21

3.21 0.000.052.618.294.870.21 2019/20 5.47 0.22

Based on the aggregate of different marketing years.

Foreign Agricultural Service/USDA 26 January 2020Global Market Analysis

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Table 20: United States Oilseeds and Products Supply and Distribution Local Marketing Year

Thousand Metric Tons

Area

Harvested

Beginning

Stocks

Productio

n

Imports Total

Supply

Exports Crush Domestic

Consumpti

Ending

Stocks

Major Oilseeds

96,843 53,48331,647112,0771,03314,20136,962 2006/07 63,407 17,023

82,453 53,49533,045100,7411,26517,02331,970 2007/08 60,787 6,909

89,201 49,34235,69497,4051,2956,90935,265 2008/09 56,091 5,620

98,951 51,48341,691105,6371,0665,62035,511 2009/10 58,402 5,544

100,432 49,32341,938106,9219455,54437,179 2010/11 57,664 7,319

92,442 50,31637,813101,0461,2857,31935,131 2011/12 57,621 5,612

93,323 50,25037,156100,5401,6055,61236,676 2012/13 57,621 5,763

98,986 51,45545,569107,8163,0675,76335,428 2013/14 58,294 3,953

116,050 55,10851,109121,8541,8513,95338,991 2014/15 63,989 6,756

115,891 55,05553,968123,7771,1306,75638,403 2015/16 62,941 6,868

126,942 56,25760,083135,3121,5026,86839,247 2016/17 65,628 9,601

131,483 60,16859,315142,5031,4199,60142,801 2017/18 69,361 13,827

130,716 61,02848,703145,6521,10913,82741,415 2018/19 70,409 26,540

107,423 61,37649,390134,93697326,54036,981 2019/20 71,077 14,469

Major Protein Meals

41,390 53,4838,26443,4601,709361nr 2006/07 34,811 385

40,786 53,4958,70643,1631,992385nr 2007/08 34,123 334

37,631 49,3427,94039,7821,817334nr 2008/09 31,596 246

39,992 51,48310,30841,5821,344246nr 2009/10 30,933 341

38,032 49,3238,48840,6142,241341nr 2010/11 31,748 378

39,450 50,3169,17042,8603,032378nr 2011/12 33,354 336

38,592 50,25010,46042,3213,393336nr 2012/13 31,547 314

39,291 51,45510,80343,4033,798314nr 2013/14 32,308 292

43,210 55,10812,14447,3753,873292nr 2014/15 34,941 290

42,777 55,05511,17847,1374,070290nr 2015/16 35,684 275

43,112 56,25710,82647,3073,920275nr 2016/17 36,073 408

47,027 60,16813,00351,1713,736408nr 2017/18 37,605 563

46,516 61,02812,60451,0093,930563nr 2018/19 37,986 419

47,235 61,37612,30051,5423,888419nr 2019/20 38,818 424

Major Vegetable Oils

10,450 53,4831,33314,7742,5271,7970 2006/07 11,700 1,741

10,544 53,4951,67915,3943,1091,7410 2007/08 12,251 1,464

9,667 49,3421,45714,3613,2301,4640 2008/09 11,167 1,737

10,058 51,4831,94815,1333,3381,7370 2009/10 11,194 1,991

9,775 49,3231,86115,3783,6121,9910 2010/11 11,794 1,723

10,032 50,3161,14615,5863,8311,7230 2011/12 12,873 1,567

10,231 50,2501,38715,5993,8011,5670 2012/13 13,068 1,144

10,425 51,4551,11615,5854,0161,1440 2013/14 13,497 972

10,938 55,1081,17416,1404,2309720 2014/15 13,680 1,286

11,210 55,0551,24817,0234,5271,2860 2015/16 14,573 1,202

11,434 56,2571,41517,3674,7311,2020 2016/17 14,721 1,231

12,109 60,1681,34218,1234,7831,2310 2017/18 15,541 1,240

12,193 61,0281,09618,1394,7061,2400 2018/19 15,883 1,160

12,344 61,3761,00718,3464,8421,1600 2019/20 16,330 1,009

Based on the aggregate of different marketing years

Foreign Agricultural Service/USDA 27 January 2020Global Market Analysis

Page 28: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 21: United States Soybeans and Products Supply and Distribution Local Marketing Years

Thousand Metric Tons

Area

Harvested

Beginning

Stocks

Productio

n

Imports Total

Supply

Exports Crush Domestic

Consumpti

Ending

Stocks

Oilseed, Soybean

87,001 49,19830,38699,47624612,22930,190 2006/07 53,473 15,617

72,859 49,08131,53888,74526915,61725,959 2007/08 51,627 5,580

80,749 45,23034,81786,6903615,58030,222 2008/09 48,112 3,761

91,470 47,67340,79895,6283973,76130,907 2009/10 50,724 4,106

90,663 44,85140,95995,1623934,10631,003 2010/11 48,351 5,852

84,291 46,34837,18690,5824395,85229,856 2011/12 48,786 4,610

82,791 45,96736,12988,5041,1034,61030,814 2012/13 48,550 3,825

91,363 47,19244,59497,1411,9533,82530,850 2013/14 50,043 2,504

106,905 50,97550,136110,3139042,50433,431 2014/15 54,989 5,188

106,869 51,33552,869112,6986415,18833,080 2015/16 54,475 5,354

116,931 51,74258,963122,8916065,35433,470 2016/17 55,720 8,208

120,065 55,92658,071128,8675948,20836,236 2017/18 58,873 11,923

120,515 56,93547,564132,82138311,92335,448 2018/19 60,517 24,740

96,841 57,28948,308121,98940824,74030,360 2019/20 60,766 12,915

Meal, Soybean

39,037 49,1987,98739,464142285nr 2006/07 31,166 311

38,359 49,0818,38438,798128311nr 2007/08 30,147 267

35,473 45,2307,70835,82080267nr 2008/09 27,899 213

37,836 47,67310,12538,194145213nr 2009/10 27,795 274

35,608 44,8518,23836,045163274nr 2010/11 27,489 318

37,217 46,3488,84537,731196318nr 2011/12 28,614 272

36,174 45,96710,11136,668222272nr 2012/13 26,308 249

36,909 47,19210,50437,505347249nr 2013/14 26,774 227

40,880 50,97511,89141,409302227nr 2014/15 29,282 236

40,525 51,33510,84341,119358236nr 2015/16 30,037 239

40,630 51,74210,50541,182313239nr 2016/17 30,314 363

44,657 55,92612,71545,458438363nr 2017/18 32,239 504

44,279 56,93512,29645,403620504nr 2018/19 32,742 365

44,904 57,28911,97545,723454365nr 2019/20 33,385 363

Oil, Soybean

9,294 49,19885110,676171,365nr 2006/07 8,426 1,399

9,335 49,0811,32010,764301,399nr 2007/08 8,317 1,127

8,503 45,2309959,671411,127nr 2008/09 7,378 1,298

8,897 47,6731,52410,242471,298nr 2009/10 7,173 1,545

8,568 44,8511,46610,185721,545nr 2010/11 7,506 1,213

8,954 46,34866410,235681,213nr 2011/12 8,396 1,175

8,990 45,96798110,254891,175nr 2012/13 8,522 751

9,131 47,1928529,95775751nr 2013/14 8,576 529

9,706 50,97591410,355120529nr 2014/15 8,600 841

9,956 51,3351,01710,927130841nr 2015/16 9,145 765

10,035 51,7421,15910,945145765nr 2016/17 9,010 776

10,783 55,9261,10811,711152776nr 2017/18 9,698 905

10,975 56,93588112,060180905nr 2018/19 10,374 805

11,077 57,28977112,086204805nr 2019/20 10,659 656

Data based on Local Marketing Year (MY). Soybeans are on a September/August MY, and Soybean

Meal and Oil are on an October/September MY.

Foreign Agricultural Service/USDA 28 January 2020Global Market Analysis

Page 29: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 22: Brazil Soybeans and Products Supply and Distribution Local Marketing Years

Thousand Metric Tons

Area

Harvested

Beginning

Stocks

Productio

n

Imports Total

Supply

Exports Crush Domestic

Consumpti

Ending

Stocks

Oilseed, Soybean (Local)

59,000 31,51123,80564,3911085,28320,700 2006/07 33,961 6,625

61,000 31,89524,51567,708836,62521,300 2007/08 34,365 8,828

57,800 30,77928,04166,7521248,82821,700 2008/09 33,129 5,582

69,000 35,70029,18874,7321505,58223,500 2009/10 38,100 7,444

75,300 37,26433,78982,784407,44424,200 2010/11 39,714 9,281

66,500 36,23031,90576,0792989,28125,000 2011/12 38,730 5,444

82,000 36,43242,82687,6842405,44427,700 2012/13 38,982 5,876

86,700 38,19545,74793,1555795,87630,100 2013/14 40,795 6,613

97,200 40,33954,635104,1423296,61332,100 2014/15 42,989 6,518

96,500 39,96752,100103,3803626,51833,300 2015/16 42,617 8,663

114,600 42,16168,807123,5302678,66333,900 2016/17 44,811 9,912

122,000 43,46084,155132,0971859,91235,150 2017/18 45,592 2,350

117,000 42,50074,100119,4861362,35035,900 2018/19 44,636 750

123,000 43,85074,600123,90015075036,900 2019/20 46,350 2,950

Meal, Soybean (Local)

24,420 31,51112,34625,429146863nr 2006/07 10,800 2,283

24,720 31,89512,70927,1461432,283nr 2007/08 12,300 2,137

23,850 30,77912,15326,073862,137nr 2008/09 12,800 1,120

27,670 35,70014,14728,862721,120nr 2009/10 13,187 1,528

28,880 37,26414,45230,459511,528nr 2010/11 13,400 2,607

28,080 36,23013,85430,702152,607nr 2011/12 14,000 2,848

28,230 36,43213,61931,108302,848nr 2012/13 14,800 2,689

29,560 38,19513,72132,276272,689nr 2013/14 15,300 3,255

31,220 40,33915,10634,491163,255nr 2014/15 15,900 3,485

30,930 39,96714,65134,442273,485nr 2015/16 16,700 3,091

32,680 42,16113,91535,806353,091nr 2016/17 17,100 4,791

33,680 43,46016,97638,491204,791nr 2017/18 17,500 4,015

32,940 42,50016,68036,980254,015nr 2018/19 17,850 2,450

34,000 43,85015,20036,476262,450nr 2019/20 18,500 2,776

Oil, Soybean (Local)

6,050 31,5112,5216,38462272nr 2006/07 3,505 358

6,120 31,8952,1986,4879358nr 2007/08 4,005 284

5,910 30,7791,4966,23541284nr 2008/09 4,395 344

6,850 35,7001,6327,1962344nr 2009/10 5,060 504

7,150 37,2641,7587,6540504nr 2010/11 5,305 591

6,950 36,2301,6887,5432591nr 2011/12 5,395 460

6,990 36,4321,4107,4544460nr 2012/13 5,528 516

7,330 38,1951,3267,8460516nr 2013/14 5,955 565

7,740 40,3391,6508,33732565nr 2014/15 6,220 467

7,670 39,9671,2508,21174467nr 2015/16 6,490 471

8,080 42,1611,3238,60251471nr 2016/17 6,887 392

8,340 43,4601,4108,77341392nr 2017/18 6,990 373

8,155 42,5001,0258,57850373nr 2018/19 7,221 332

8,415 43,8501,1008,79750332nr 2019/20 7,360 337

Data based on Brazil's local February/January Marketing Year (MY).

Where February 2012 - January 2013 is the 2011/12 MY.

Foreign Agricultural Service/USDA 29 January 2020Global Market Analysis

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Table 23: Argentina Soybeans and Products Supply and Distribution Local Marketing Years

Thousand Metric Tons

Area

Harvested

Beginning

Stocks

Productio

n

Imports Total

Supply

Exports Crush Domestic

Consumpti

Ending

Stocks

Oilseed, Soybean (Local)

48,800 35,96312,13351,8042,33666816,300 2006/07 37,593 2,078

46,200 31,88311,80351,2252,9472,07816,371 2007/08 33,608 5,814

32,000 28,5553,48637,9711575,81416,000 2008/09 30,405 4,080

54,500 39,19613,70158,58004,08018,600 2009/10 41,496 3,383

49,000 37,52110,38952,396133,38318,300 2010/11 39,901 2,106

40,100 30,6816,09842,20822,10617,577 2011/12 33,431 2,679

49,300 35,0097,81751,98122,67919,750 2012/13 40,009 4,155

53,400 38,5037,43457,55724,15519,250 2013/14 43,503 6,620

61,450 45,11011,67068,2111416,62019,350 2014/15 50,360 6,181

58,800 43,0429,04666,2851,3046,18119,350 2015/16 49,242 7,997

55,000 40,9407,24765,6282,6317,99717,335 2016/17 47,440 10,941

37,800 36,3503,84155,9977,25610,94116,300 2017/18 43,050 9,106

55,300 42,6009,90068,3363,9309,10616,600 2018/19 49,436 9,000

53,000 44,6008,00065,9003,9009,00017,500 2019/20 51,750 6,150

Meal, Soybean (Local)

27,857 35,96328,10829,38621,527nr 2006/07 544 734

24,839 31,88324,38925,5763734nr 2007/08 652 535

22,519 28,55521,30323,0584535nr 2008/09 750 1,005

30,493 39,19628,38431,49801,005nr 2009/10 850 2,264

29,181 37,52127,48531,44502,264nr 2010/11 1,085 2,875

23,946 30,68121,97326,82102,875nr 2011/12 1,550 3,298

27,150 35,00923,93730,44803,298nr 2012/13 1,950 4,561

29,528 38,50327,47334,08904,561nr 2013/14 2,200 4,416

34,737 45,11031,87339,15304,416nr 2014/15 2,523 4,757

33,102 43,04230,98437,86014,757nr 2015/16 2,757 4,119

31,450 40,94029,25535,56904,119nr 2016/17 2,930 3,384

27,950 36,35025,84831,33403,384nr 2017/18 3,136 2,350

32,750 42,60030,15035,10002,350nr 2018/19 3,200 1,750

34,300 44,60030,85036,05001,750nr 2019/20 3,450 1,750

Oil, Soybean (Local)

6,917 35,9636,5157,4020485nr 2006/07 675 212

6,037 31,8834,9876,2490212nr 2007/08 1,125 137

5,448 28,5553,7095,5850137nr 2008/09 1,716 160

7,460 39,1965,1807,6200160nr 2009/10 2,215 225

7,148 37,5214,2277,3730225nr 2010/11 2,755 391

5,840 30,6813,4336,26635391nr 2011/12 2,550 283

6,616 35,0094,2816,95859283nr 2012/13 2,375 302

7,191 38,5034,2967,51926302nr 2013/14 2,843 380

8,753 45,1106,3129,1385380nr 2014/15 2,308 518

8,382 43,0425,3868,9000518nr 2015/16 3,055 459

7,925 40,9404,7218,3840459nr 2016/17 3,190 473

7,160 36,3504,5677,6330473nr 2017/18 2,760 306

8,300 42,6005,5508,6060306nr 2018/19 2,725 331

8,700 44,6006,0009,0310331nr 2019/20 2,695 336

Data based on Argentina's Local April/March Marketing Year (MY).

Where April 2012 - March 2013 is the 2011/12 MY.

Foreign Agricultural Service/USDA 30 January 2020Global Market Analysis

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Table 24: South East Asia Oilseeds and Products Supply and Distribution

Thousand Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

none

Production none

4,054 Oilseed, Copra 4,243 4,626 4,656 4,486 4,486

13,705 Oilseed, Palm Kernel 15,058 16,274 16,954 17,520 17,320

944 Oilseed, Soybean 879 835 817 799 799

3,832 Other 3,850 3,871 3,825 3,587 3,587

22,535 Total 24,030 25,606 26,252 26,392 26,192

none

Domestic Consumption none

795 Meal, Fish 921 916 927 930 930

427 Meal, Rapeseed 378 458 520 530 530

18,257 Meal, Soybean 18,756 19,462 20,207 20,818 20,818

3,061 Other 3,421 3,549 3,476 3,732 3,697

22,540 Total 23,476 24,385 25,130 26,010 25,975

none

SME none

1,152 Meal, Fish 1,333 1,324 1,340 1,344 1,344

304 Meal, Rapeseed 269 326 370 377 377

18,187 Meal, Soybean 18,666 19,352 20,087 20,698 20,698

1,598 Other 1,746 1,799 1,764 1,866 1,854

21,242 Total 22,014 22,801 23,560 24,285 24,272

none

Imports none

278 Meal, Fish 351 370 372 385 385

384 Meal, Rapeseed 360 501 490 500 500

15,661 Meal, Soybean 16,097 16,830 17,442 17,919 17,919

684 Other 739 701 665 735 735

17,007 Total 17,547 18,402 18,969 19,539 19,539

none

Industrial Dom. Cons. none

7,310 Oil, Palm 6,766 8,975 10,768 11,280 11,220

0 Oil, Rapeseed 0 0 0 0 0

42 Oil, Soybean 46 45 50 55 55

0 Oil, Sunflowerseed 0 0 0 0 0

3,988 Other 4,191 4,688 4,964 5,121 5,101

11,340 Total 11,003 13,708 15,782 16,456 16,376

none

Food Use Dom. Cons. none

9,221 Oil, Palm 9,720 10,254 10,655 11,000 11,130

26 Oil, Rapeseed 31 17 23 26 26

652 Oil, Soybean 672 625 666 710 710

131 Oil, Sunflowerseed 131 131 131 131 131

1,421 Other 1,471 1,557 1,633 1,712 1,682

11,451 Total 12,025 12,584 13,108 13,579 13,679

none

Domestic Consumption none

16,947 Oil, Palm 16,954 19,752 21,974 22,452 22,522

26 Oil, Rapeseed 31 17 23 26 26

694 Oil, Soybean 718 670 716 765 765

131 Oil, Sunflowerseed 131 131 131 131 131

5,419 Other 5,672 6,255 6,607 6,843 6,793

23,217 Total 23,506 26,825 29,451 30,217 30,237

none

Imports none

3,600 Oil, Palm 3,663 3,718 4,263 4,022 3,937

13 Oil, Rapeseed 12 12 13 13 13

290 Oil, Soybean 273 231 250 266 266

0 Oil, Sunflowerseed 0 0 0 0 0

567 Other 499 567 537 589 589

4,470 Total 4,447 4,528 5,063 4,890 4,805

Southeast Asia includes Brunei, Burma, Cambonia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam.

SME - 44 Percent Protein Soybean Meal Equivalent

Foreign Agricultural Service/USDA 31 January 2020Global Market Analysis

Page 32: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 25: Middle East Oilseeds and Products Supply and Distribution

Thousand Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

none

Production none

1,032 Oilseed, Cottonseed 1,228 1,447 1,502 1,328 1,263

254 Oilseed, Rapeseed 263 200 228 228 228

242 Oilseed, Soybean 241 292 257 277 277

1,147 Oilseed, Sunflowerseed 1,376 1,609 1,859 1,809 1,809

148 Other 164 165 154 150 150

2,823 Total 3,272 3,713 4,000 3,792 3,727

none

Domestic Consumption none

110 Meal, Fish 125 120 135 135 135

835 Meal, Rapeseed 855 748 544 568 568

7,456 Meal, Soybean 7,810 8,290 8,813 9,272 9,272

2,892 Other 3,366 3,707 3,873 3,806 3,767

11,293 Total 12,156 12,865 13,365 13,781 13,742

none

SME none

159 Meal, Fish 181 173 195 195 195

594 Meal, Rapeseed 608 532 387 404 404

7,454 Meal, Soybean 7,808 8,288 8,811 9,270 9,270

1,927 Other 2,249 2,457 2,593 2,532 2,501

10,134 Total 10,846 11,450 11,986 12,401 12,370

none

Imports none

108 Meal, Fish 125 130 120 130 130

196 Meal, Rapeseed 173 169 170 175 175

4,112 Meal, Soybean 4,950 3,800 5,865 5,470 5,470

1,497 Other 1,764 1,813 1,751 1,797 1,797

5,913 Total 7,012 5,912 7,906 7,572 7,572

none

Imports none

2,309 Oil, Palm 2,521 2,564 2,811 3,072 2,942

61 Oil, Rapeseed 52 52 54 54 54

414 Oil, Soybean 345 328 248 285 285

1,654 Oil, Sunflowerseed 2,223 1,726 2,013 2,050 2,075

171 Other 174 159 182 188 188

4,609 Total 5,315 4,829 5,308 5,649 5,544

none

Industrial Dom. Cons. none

185 Oil, Palm 180 180 160 185 160

30 Oil, Rapeseed 30 14 10 7 7

126 Oil, Soybean 125 135 138 144 144

20 Oil, Sunflowerseed 20 20 20 20 20

58 Other 54 50 50 49 49

419 Total 409 399 378 405 380

none

Food Use Dom. Cons. none

1,814 Oil, Palm 1,955 2,176 2,372 2,517 2,502

324 Oil, Rapeseed 259 217 196 194 194

929 Oil, Soybean 947 980 732 768 768

2,054 Oil, Sunflowerseed 2,302 2,307 2,703 2,719 2,744

630 Other 626 672 678 683 671

5,751 Total 6,089 6,352 6,681 6,881 6,879

none

Domestic Consumption none

1,999 Oil, Palm 2,135 2,356 2,532 2,702 2,662

354 Oil, Rapeseed 289 231 206 201 201

1,135 Oil, Soybean 1,127 1,175 940 987 987

2,084 Oil, Sunflowerseed 2,332 2,337 2,733 2,749 2,774

694 Other 690 729 735 739 727

6,266 Total 6,573 6,828 7,146 7,378 7,351

Middle East includes Bahrain, Gaza Strip, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, Turkey,

United Arab Emirates, West Banks, and Yemen.

SME - 44 Percent Protein Soybean Meal Equivalent

Foreign Agricultural Service/USDA 32 January 2020Global Market Analysis

Page 33: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Table 26: European Union Oilseeds and Products Supply and Distribution

Thousand Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

none

Production none

21,997 Oilseed, Rapeseed 20,538 22,184 20,033 17,000 17,000

2,320 Oilseed, Soybean 2,410 2,540 2,664 2,600 2,600

7,721 Oilseed, Sunflowerseed 8,651 10,128 9,513 9,750 9,750

409 Other 418 487 550 627 627

32,447 Total 32,017 35,339 32,760 29,977 29,977

none

Domestic Consumption none

581 Meal, Fish 536 630 720 670 670

13,800 Meal, Rapeseed 13,680 13,700 13,275 12,600 12,600

30,692 Meal, Soybean 30,242 30,042 30,892 31,192 31,192

9,181 Other 9,907 10,276 10,521 10,363 10,363

54,254 Total 54,365 54,648 55,408 54,825 54,825

none

SME none

842 Meal, Fish 775 910 1,040 968 968

9,819 Meal, Rapeseed 9,733 9,748 9,445 8,965 8,965

30,650 Meal, Soybean 30,200 30,000 30,850 31,150 31,150

5,242 Other 5,795 5,935 6,039 6,000 6,000

46,554 Total 46,502 46,593 47,374 47,083 47,083

none

Imports none

284 Meal, Fish 193 267 335 300 300

409 Meal, Rapeseed 219 242 521 530 530

19,213 Meal, Soybean 18,794 18,354 18,699 19,000 19,000

5,507 Other 5,691 5,804 6,181 5,907 5,907

25,413 Total 24,897 24,667 25,736 25,737 25,737

none

Industrial Dom. Cons. none

3,400 Oil, Palm 3,700 3,800 4,000 3,800 3,900

7,200 Oil, Rapeseed 7,100 7,050 6,700 6,400 6,400

930 Oil, Soybean 850 870 950 950 950

420 Oil, Sunflowerseed 400 330 400 350 350

475 Other 525 565 585 585 585

12,425 Total 12,575 12,615 12,635 12,085 12,185

none

Food Use Dom. Cons. none

3,000 Oil, Palm 2,900 2,900 3,140 3,100 3,150

2,800 Oil, Rapeseed 2,950 3,000 2,950 2,950 2,950

1,300 Oil, Soybean 1,300 1,300 1,450 1,450 1,450

3,850 Oil, Sunflowerseed 4,200 4,300 4,550 4,650 4,650

2,358 Other 2,151 2,418 2,589 2,697 2,697

13,308 Total 13,501 13,918 14,679 14,847 14,897

none

Domestic Consumption none

6,600 Oil, Palm 6,800 6,900 7,360 7,100 7,275

10,050 Oil, Rapeseed 10,100 10,100 9,700 9,400 9,400

2,285 Oil, Soybean 2,205 2,225 2,455 2,455 2,455

4,280 Oil, Sunflowerseed 4,610 4,643 4,963 5,013 5,013

2,848 Other 2,691 2,998 3,189 3,297 3,297

26,063 Total 26,406 26,866 27,667 27,265 27,440

none

Imports none

6,717 Oil, Palm 7,217 7,079 7,630 7,100 7,375

207 Oil, Rapeseed 153 158 246 275 275

325 Oil, Soybean 285 284 416 350 350

1,418 Oil, Sunflowerseed 1,791 1,529 1,966 1,800 1,800

1,396 Other 1,422 1,618 1,590 1,661 1,661

10,063 Total 10,868 10,668 11,848 11,186 11,461

European Union includes Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France,

Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania,

Slovakia, Slovenia, Spain, Sweden, and United Kingdom.

Foreign Agricultural Service/USDA 33 January 2020Global Market Analysis

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Table 27: China Oilseeds and Products Supply and Distribution

Thousand Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

none

Production none

15,961 Oilseed, Peanut 16,361 17,092 17,333 17,500 17,500

13,859 Oilseed, Rapeseed 13,128 13,274 13,281 13,100 13,100

12,367 Oilseed, Soybean 13,596 15,283 15,967 18,100 18,100

2,872 Oilseed, Sunflowerseed 3,201 3,149 2,494 3,250 3,250

8,600 Other 8,800 10,800 10,875 10,679 10,679

53,659 Total 55,086 59,598 59,950 62,629 62,629

none

Domestic Consumption none

1,439 Meal, Fish 2,019 1,866 1,814 1,964 1,964

10,572 Meal, Rapeseed 10,777 11,453 11,148 10,600 10,600

62,663 Meal, Soybean 68,646 70,105 66,405 66,074 66,420

7,832 Other 8,252 9,495 10,609 11,069 11,042

82,506 Total 89,694 92,919 89,976 89,707 90,026

none

SME none

2,087 Meal, Fish 2,928 2,696 2,621 2,838 2,838

7,197 Meal, Rapeseed 7,339 7,816 7,595 7,205 7,205

61,663 Meal, Soybean 67,596 69,005 65,255 64,874 65,170

6,983 Other 7,260 8,244 8,987 9,271 9,252

77,930 Total 85,123 87,761 84,459 84,188 84,466

none

Imports none

1,042 Meal, Fish 1,583 1,466 1,450 1,600 1,600

359 Meal, Rapeseed 875 1,258 1,437 1,350 1,350

24 Meal, Soybean 61 23 17 50 50

403 Other 657 842 2,161 2,255 2,255

1,828 Total 3,176 3,589 5,065 5,255 5,255

none

Food Use Dom. Cons. none

2,700 Oil, Palm 2,650 2,900 4,512 4,720 4,720

2,855 Oil, Peanut 2,807 2,966 3,091 3,094 3,094

8,500 Oil, Rapeseed 8,600 8,600 8,387 8,110 8,110

15,350 Oil, Soybean 16,350 16,500 15,885 16,287 16,325

1,379 Oil, Sunflowerseed 1,332 1,428 1,496 1,883 1,865

1,272 Other 1,296 1,569 1,601 1,609 1,609

32,056 Total 33,035 33,963 34,972 35,703 35,723

none

Domestic Consumption none

4,800 Oil, Palm 4,750 5,100 7,012 7,220 7,220

2,855 Oil, Peanut 2,807 2,966 3,091 3,094 3,094

8,500 Oil, Rapeseed 8,600 8,600 8,387 8,110 8,110

15,350 Oil, Soybean 16,350 16,500 15,885 16,287 16,325

1,379 Oil, Sunflowerseed 1,332 1,428 1,496 1,883 1,865

1,832 Other 1,891 2,270 2,491 2,499 2,499

34,716 Total 35,730 36,864 38,362 39,093 39,113

none

Imports none

4,689 Oil, Palm 4,881 5,320 6,795 7,200 7,200

113 Oil, Peanut 111 112 172 160 160

768 Oil, Rapeseed 802 1,067 1,507 1,570 1,570

586 Oil, Soybean 711 481 783 1,200 1,200

878 Oil, Sunflowerseed 725 785 1,032 1,150 1,150

737 Other 773 883 1,116 1,140 1,140

7,771 Total 8,003 8,648 11,405 12,420 12,420

SME - 44 Percent Protein Soybean Meal Equivalent

Foreign Agricultural Service/USDA 34 January 2020Global Market Analysis

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Table 28: India Oilseeds and Products Supply and Distribution

Thousand Metric Tons

2015/16 2016/17 2017/18 2018/19

Dec

2019/20

Jan

2019/20

none

Production none

10,996 Oilseed, Cottonseed 11,463 12,312 10,953 12,524 12,524

4,470 Oilseed, Peanut 6,924 6,650 4,720 6,200 6,200

5,920 Oilseed, Rapeseed 6,620 7,100 8,000 7,700 7,700

6,929 Oilseed, Soybean 10,992 8,350 10,930 9,000 9,000

323 Oilseed, Sunflowerseed 318 230 172 170 170

735 Other 735 770 770 770 770

29,373 Total 37,052 35,412 35,545 36,364 36,364

none

Domestic Consumption none

3,959 Meal, Cottonseed 3,725 4,278 3,960 4,515 4,515

1,108 Meal, Peanut 1,506 1,538 1,378 1,500 1,500

2,600 Meal, Rapeseed 2,750 2,875 3,200 3,150 3,150

4,460 Meal, Soybean 4,675 4,740 5,280 5,350 5,350

315 Meal, Sunflowerseed 439 217 223 252 252

431 Other 452 546 540 555 555

12,873 Total 13,547 14,194 14,581 15,322 15,322

none

SME none

3,208 Meal, Cottonseed 3,018 3,466 3,209 3,659 3,659

1,240 Meal, Peanut 1,687 1,723 1,543 1,686 1,686

1,850 Meal, Rapeseed 1,957 2,046 2,277 2,241 2,241

4,300 Meal, Soybean 4,500 4,550 5,050 5,100 5,100

210 Meal, Sunflowerseed 293 145 149 168 168

188 Other 196 239 236 242 242

10,996 Total 11,651 12,169 12,464 13,096 13,096

none

Food Use Dom. Cons. none

1,230 Oil, Cottonseed 1,120 1,300 1,185 1,350 1,350

8,600 Oil, Palm 8,800 8,700 9,200 9,550 9,550

860 Oil, Peanut 1,050 1,080 1,140 1,200 1,200

2,200 Oil, Rapeseed 2,350 2,750 2,650 2,620 2,620

5,250 Oil, Soybean 5,150 4,720 4,810 4,950 4,950

1,665 Oil, Sunflowerseed 2,000 2,500 2,750 2,775 2,775

265 Other 240 295 285 294 294

20,070 Total 20,710 21,345 22,020 22,739 22,739

none

Domestic Consumption none

1,275 Oil, Cottonseed 1,165 1,345 1,230 1,395 1,395

9,100 Oil, Palm 9,350 9,270 9,805 10,185 10,185

870 Oil, Peanut 1,060 1,090 1,150 1,210 1,210

2,280 Oil, Rapeseed 2,435 2,830 2,730 2,700 2,700

5,250 Oil, Soybean 5,150 4,720 4,810 4,950 4,950

1,665 Oil, Sunflowerseed 2,000 2,500 2,750 2,775 2,775

547 Other 506 595 604 639 639

20,987 Total 21,666 22,350 23,079 23,854 23,854

none

Imports none

0 Oil, Cottonseed 0 3 3 0 0

8,860 Oil, Palm 9,341 8,608 9,710 10,000 10,000

0 Oil, Peanut 0 0 0 0 0

383 Oil, Rapeseed 317 278 125 120 120

4,269 Oil, Soybean 3,534 2,984 3,100 3,500 3,500

1,492 Oil, Sunflowerseed 2,136 2,496 2,500 2,650 2,650

106 Other 82 117 140 165 165

15,110 Total 15,410 14,486 15,578 16,435 16,435

SME - 44 Percent Protein Soybean Meal Equivalent

Foreign Agricultural Service/USDA 35 January 2020Global Market Analysis

Page 36: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Year Rapeseed CopraBeg U.S. U.S. Brz Arg Rott U.S. Rott U.S. Rott Hamb RottOct 1 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 10/ 11/

Oct - Sep Average08/09-17/18 407 412 445 443 471 523 1480 476 480 484 806

2008/09 368 365 403 392 421 517 1,204 461 364 393 4872009/10 354 357 390 395 429 467 1,209 342 452 419 6132010/11 454 482 508 511 549 508 1,792 591 661 647 11882011/12 488 505 549 533 562 729 2,480 632 593 616 8292012/13 530 537 538 543 592 635 1,391 546 580 579 5702013/14 482 487 514 517 542 524 1,300 480 466 505 8542014/15 362 356 388 401 407 482 1,294 506 432 417 7492015/16 339 346 382 375 396 419 1,260 433 440 409 9072016/17 347 351 385 376 404 437 1,554 386 408 432 10762017/18 343 337 396 386 403 508 1,317 381 403 425 784

2018/19 Oct 315 291 412 393 368 481 1,315 368 375 432 558 Nov 308 301 382 368 373 476 1,250 375 377 427 511 Dec 315 313 351 357 382 452 1,275 362 370 424 535 Jan 317 315 349 347 382 500 1,255 384 381 425 520 Feb 313 315 353 347 380 492 1,300 397 396 422 478 Mar 313 311 344 335 373 437 1,325 392 397 409 451 Apr 304 306 336 319 364 448 1,294 388 393 412 456 May 295 288 338 320 345 452 1,305 403 405 409 452 Jun 305 312 367 347 371 474 1,325 395 380 417 430 Jul 308 316 358 341 374 454 1,313 399 370 417 444 Aug 302 305 364 347 362 452 1,325 395 362 420 481 Sep 307 309 362 348 365 437 1,344 408 355 425 483 Average 309 307 360 347 370 463 1,302 389 380 420 483

2019/20 Oct 316 327 372 354 385 450 1,345 384 366 427 484 Nov 316 325 370 353 377 423 1,400 395 389 430 566*Dec N/A 333 369 367 381 N/A 1,470 N/A 425 449 680 Jan Feb Mar Apr May Jun Jul Aug Sep Average N/A 328 370 358 381 N/A 1,405 N/A 393 435 577

7/ Rotterdam CIF; US Runners 40/50%, Shelled Basis, Oilworld. 8/ US Farm Price; USDA9/ Rotterdam/Amsterdam CIF; EU; Oil World 10/Hamburg CIF; Europe "00"; Oil World.

* Preliminary 1/9/2020 6:23:31 PM

3/ Brazil Paranagua, FOB; IGC 4/ Argentina Up River, FOB; IGC5/ Rotterdam CIF; US origin; Oil World. 6/ US Farm Price, Inshell, USDA.

11/ Phil/Indo CIF NW Europe; Oil World

Table 29: Oilseed Prices U.S. Dollars per Metric Ton

Soybean Peanut Sunseed

1/ U.S. Farm Price; USDA. 2/ U.S. NO.1 Yellow Cash Central Illinois; AMS.

Foreign Agricultural Service/USDA 36 January 2020Global Market Analysis

Page 37: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Year FishBeg U.S. Brz Arg Hamb U.S. Ukr BremOct 1 1/ 2/ 3/ 4/ 6/ 7/ 8/

Oct - Sep Average08/09-17/18 407 387 388 421 213 245 1531

2008/09 365 333 290 401 168 178 11032009/10 343 327 311 391 167 222 16682010/11 381 383 386 418 242 254 16072011/12 434 442 442 461 272 263 14482012/13 516 489 506 538 266 318 17912013/14 540 500 509 533 263 315 1,6602014/15 406 376 386 403 231 269 1,6322015/16 358 335 349 351 169 233 1,5172016/17 349 322 326 336 160 178 1,3772017/18 380 368 375 382 191 224 1,506

2018/19 Oct 352 349 340 347 181 235 1,483 Nov 342 335 332 340 189 240 1,478 Dec 344 325 326 344 207 213 1,479 Jan 347 361 334 343 210 211 1,484 Feb 338 325 326 330 207 214 1,471 Mar 338 319 320 320 209 204 1,470 Apr 335 315 313 318 184 205 1,505 May 328 312 311 320 156 212 1,511 Jun 358 334 331 337 158 228 1,521 Jul 343 318 317 322 157 226 1,496 Aug 327 308 306 314 159 224 1,438 Sep 326 304 299 315 157 210 1,384 Average 340 325 321 329 181 219 1,477

2019/20 Oct 341 312 309 319 186 197 1,359 Nov 334 318 318 318 184 201 1,359*Dec 330 326 331 325 195 201 1,362 Jan Feb Mar Apr May Jun Jul Aug Sep Average 335 319 319 321 188 200 1,360

1/ Decatur, Average Wholsale 48% Protein; USDA. 2/ Brazil Paranagua, FOB; 48% Protein; IGC.3/ Argentina Pellets, Up River, FOB; IGC; 4/ Hamburg FOB 44/45% Ex-Mill; Oil World.5/ Memphis FOB; 41% Protein Solvent Extraction; USDA; 6/ Minneapolis FOB; 32% Protein; USDA.7/ HiPro a.o. cif France or Ukraine DAF; Argentina Pellet 37-38% (Prior to Aug 2012); Oilworld.8/ Bremen 64-65% Protein; Oil World. 9/ Hamburg FOB; Ex-Mill 34% Protein; Oil World.* Preliminary 1/9/2020 6:23:31 PM

214217239

256 223

323269

276

265269

416335288

287

225216204247

249244232237

276

273259249239

230

274

232225

272

259

274273266

238252

235258

237238240244

244302303366

U.S.5/

305

281

Table 30: Protein Meal Prices U.S. Dollars per Metric Ton

Soybean SunseedCottonseed RapeseedHamb

9/

265

195221278295353

Foreign Agricultural Service/USDA 37 January 2020Global Market Analysis

Page 38: Vegetable Oil Prices on an Upward Trend...United Arab Emirates Oil, Palm Imports 450 350 -100 Reflecting reduced 2018/19 trade . 2018/19 OUTLOOK CHANGES . Note: All figures are in

Year Cottonseed Palm Canola Coconut CornBegin U.S. Brz Arg Rott U.S. U.S. Rott U.S. Rott Malay Rott Rott U.S.Oct 1 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 10/ 11/ 12/ 13/

Oct - Sep Average08/09-17/18 844 874 872 957 1,012 1,389 985 1,583 1,580 778 980 1,209 924

2008/09 709 740 741 826 820 1,108 837 1,539 1,339 633 868 735 7222009/10 793 848 829 924 888 1,164 956 1,353 1,291 793 927 921 8662010/11 1,173 1,210 1,211 1,306 1,202 1,899 1,404 1,806 1,751 1,154 1,367 1,772 1,3312011/12 1,144 1,162 1,164 1,241 1,173 1,834 1,254 2,247 2,455 1,032 1,258 1,244 1,2362012/13 1,039 1,012 1,014 1,098 1,071 1,452 1,189 1,934 1,963 791 1,127 858 1,0292013/14 843 871 870 950 1,337 1,304 929 1,430 1,355 803 954 1,278 8692014/15 697 706 705 778 1,009 1,471 850 1,265 1,354 626 782 1,128 8272015/16 658 704 698 774 1,011 1,275 849 1,294 1,443 628 798 1,362 8652016/17 718 765 763 848 902 1,181 807 1,496 1,524 699 871 1,621 8252017/18 662 722 722 822 703 1,203 776 1,470 1,326 626 844 1,175 669

2018/19 Oct 637 676 658 760 674 1,190 712 1,469 1,225 539 875 841 599 Nov 606 645 633 734 693 1,164 678 1,429 1,191 492 858 767 581 Dec 620 633 617 726 707 1,179 676 1,372 1,180 489 831 806 583 Jan 627 652 651 746 748 1,179 689 1,364 1,174 538 834 782 578 Feb 652 683 693 770 803 1,168 706 1,348 1,161 556 823 713 565 Mar 631 641 653 734 787 1,173 700 1,345 1,179 523 800 681 589 Apr 614 627 629 733 819 1,190 701 1,439 N/A 538 802 675 616 May 594 626 637 733 786 1,177 726 1,455 1,370 511 820 669 612 Jun 423 637 639 726 809 1,124 738 1,455 1,374 502 833 643 604 Jul 610 638 637 742 827 1,157 772 1,458 1,370 494 836 665 590 Aug 626 676 674 775 804 1,177 772 1,455 1,365 536 877 718 602 Sep 635 677 669 760 839 1,213 756 1,477 1,365 532 896 724 606 Average 606 651 649 745 775 1,174 719 1,422 1,269 521 840 724 594

2019/20 Oct 664 677 665 762 836 1,235 738 1,356 1,362 547 883 718 624 Nov 675 704 692 769 847 1,235 763 1,391 1,400 641 904 833 669*Dec 711 778 782 825 887 1,676 802 1,326 1,470 720 923 1,032 689 Jan Feb Mar Apr May Jun Jul Aug Sep Average 683 720 713 785 857 1,382 768 1,358 1,411 636 903 861 6611/ Decatur; Average Wholesale Tank Crude; USDA. 2/ Brazil Paranagua, FOB Crude; IGC.3/ Argentina Up River, FOB Crude; IGC 4/ Dutch FOB; Ex-Mill; Oil World. 5/ PBSY Greenwood MS; USDA. 6/ Minneapolis FOB; USDA. 7/ EU FOB NW Euro; Oil World. 8/ South East Mills FOB; Tank Cars Crude; USDA. 9/ Rotterdam CIF; Any Origin; Oil World. 10/ Malaysia FOB; RBD; Oil World. 11/ Rotterdam, Dutch FOBEx-Mill; Oilworld. 12/ Rotterdam CIF; Phil/Indo; Oil World. 13/ Chicago; Crude; AMS * Preliminary

Table 31: Vegetable Oil Prices U.S. Dollars per Metric Ton

1/9/2020 6:23:31 PM

Soybean Sunseed Peanut

Foreign Agricultural Service/USDA 38 January 2020Global Market Analysis