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

2019-12-10 www.cofeed.com

China Soybean Oil Supply & Demand Estimates Yearly (crop year: Oct.-Sept, unit: 0’000 tonnes.)
Item/Year	2014/15	2015/16	2016/17	2017/18	2018/19		2019/20
Item/Year	Est.	Est.	Est.	Est.	Nov Proj.	Dec Proj.	Nov Proj.	Dec Proj.
Beginning Stocks	131	97	118	148	171	171	135	135
Domestic Production	1394	1476	1577	1614	1541	1541	1570	1585
Imports	74	53	58	48	75	80	70	70
Total Supply	1599	1626	1753	1810	1787	1792	1775	1790

Domestic Consumption	1492	1500	1594	1627	1638	1638	1644	1660
food consumption	1348	1356	1452	1477	1488	1488	1494	1510
Other Consumption	144	144	142	150	150	150	150	150
Yearly Exports	10	8	11	12	19	19	12	15
Total Use	1502	1508	1605	1639	1657	1657	1656	1675

Ending Stocks	97	118	148	171	135	135	119	115
Stock-to-use Ratio	6.46%	7.82%	9.22%	10.43%	8.17%	8.50%	7.19%	6.87%

China Soybean Oil Supply & Demand Estimates Monthly (unit: 0’000 tonnes)
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
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	126	114	12	2	128	134
	Apr	134	129	1	264	123	111	12	2	125	139
	May	139	141	5	285	143	130	13	1	144	141
	Jun	141	133	6	280	132	119	13	1	133	147
	Jul	147	124	13	284	143	130	13	2	145	139
	Aug	139	140	12	291	154	141	13	3	157	134
	Sept	134	138	9	281	145	131	14	1	146	135
	Oct	135	124	10	269	141	129	12	2	143	126
	Nov	126	132	10	268	161	149	12	1	162	106
	Dec	106	142	8	256	164	152	12	1	165	91

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