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Cofeed: China Soybean Meal Supply and Demand Estimates (Jan, 2020)

2020-01-13 www.cofeed.com
China Soybean Meal Supply & Demand Estimates Yearly (Crop Year: Oct.-Sept.Unit: 0’000 tonnes)
Item 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20
Est. Est. Est. Est. Dec Proj. Jan Proj. Dec Proj. Jan Proj.
Beginning Stocks 87 83 70 98 95 95 71 71
Domestic Production 6,105 6464 6992 7114 6707 6707 6796 6876
Imports 6 2 2 2 7 7 10 10
Total Supply 6,198 6549 7064 7214 6809 6809 6877 6957
Domestic Consumption 5,965 6290 6839 6984 6648 6648 6697 6772
Exports 150 189 127 135 90 90 90 90
Total Use 6,115 6479 6966 7119 6738 6738 6787 6862
Ending Stocks 83 70 98 95 71 71 90 95
Stock-to-Use Ratio 1.35% 1.08% 1.43% 1.33% 1.05% 1.05% 1.33% 1.38%