Cofeed: China Soybean Oil Supply and Demand Estimates (July, 2019)

2019-07-24 www.cofeed.com

China Soybean Oil Supply & Demand Estimates Yearly (crop year: Oct.-Sept.)
Item/Year	2014/15	2015/16	2016/17	2017/18	2018/19		2019/20
	Est.	Est.	Est.	Est.	June Proj.	July Proj.	June Proj.	July Proj.
Beginning Stocks	131	97	118	148	171	171	140	140
Domestic Production	1394	1476	1577	1614	1575	1564	1580	1580
Imports	74	53	58	48	65	60	80	80
Total Supply	1599	1626	1753	1810	1811	1795	1800	1800

Domestic Consumption	1492	1500	1594	1627	1659	1643	1658	1658
food consumption	1348	1356	1452	1477	1509	1493	1508	1508
Other Consumption	144	144	142	150	150	150	150	150
Yearly Exports	10	8	11	12	12	12	12	12
Total Use	1502	1508	1605	1639	1671	1655	1670	1670

Ending Stocks	97	118	148	171	140	140	130	130
Stock-to-use Ratio	6.46%	7.82%	9.22%	10.43%	8.38%	8.46%	7.78%	7.78%

China Soybean Oil Supply & Demand Estimates Monthly
Year	Est.	Beginning Stocks	Domestic Production	Imports	Total Supply	Domestic Consumption	Of which	Of which	Exports	Total Use	Ending Stocks
Year	Est.	Beginning Stocks	Domestic Production	Imports	Total Supply	Domestic Consumption	Food Consumption	Other Consumption	Exports	Total Use	Ending Stocks
2016	Oct	118	121	4	243	129	117	12	1	130	113
	Nov	113	136	8	257	159	147	12	1	160	97
	Dec	97	145	3	245	155	143	12	1	156	89
2017	Jan	89	120	1	210	112	101	11	1	113	97
	Feb	97	101	3	201	89	78	11	1	90	111
	Mar	111	118	1	230	113	101	12	1	114	116
	Apr	116	128	5	249	133	121	12	1	134	115
	May	115	142	2	259	135	123	12	1	136	123
	Jun	123	136	14	273	147	135	12	1	148	125
	Jul	125	143	7	276	134	122	12	1	135	141
	Aug	141	141	7	289	148	136	12	0	148	141
	Sept	141	148	3	292	143	131	12	1	144	148
	Oct	148	136	6	290	130	118	12	1	131	159
	Nov	159	145	2	306	137	125	12	1	138	168
	Dec	168	156	3	327	161	149	12	1	162	165
2018	Jan	165	149	2	316	166	154	12	1	167	149
	Feb	149	77	1	227	85	73	12	1	86	141
	Mar	141	132	1	274	135	123	12	1	136	138
	Apr	138	129	1	268	137	125	12	1	138	130
	May	130	127	6	263	128	115	13	1	129	134
	Jun	134	137	7	278	126	113	13	1	127	151
	Jul	151	135	3	289	129	116	13	1	130	159
	Aug	159	148	8	315	151	138	13	1	152	163
	Sept	163	143	8	314	142	128	14	1	143	171
	Oct	171	148	7	326	140	128	12	1	141	185
	Nov	185	129	6	320	140	128	12	1	141	179
	Dec	179	137	6	322	161	149	12	1	162	160
2019	Jan	160	128	7	295	160	148	12	1	161	134
	Feb	134	67	7	208	73	61	12	1	74	134
	Mar	134	127	1	262	127	115	12	1	128	134
	Apr	134	129	1	264	124	112	12	1	125	139
	May	139	141	6	286	144	131	13	1	145	141
	Jun	141	133	6	280	132	119	13	1	133	147
	Jul	147	132	4	283	145	132	13	1	146	137
	Aug	137	148	5	290	151	138	13	1	152	138
	Sept	138	145	4	287	146	132	14	1	147	140

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