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

2020-03-12 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. Feb Proj. Mar Proj. Feb Proj. Mar Proj.
Beginning Stocks 87 83 70 98 95 95 71 71
Domestic Production 6,105 6464 6992 7114 6707 6707 6830 6829
Imports 6 2 2 2 7 7 10 10
Total Supply 6,198 6549 7064 7214 6809 6809 6911 6910
Domestic Consumption 5,965 6290 6839 6984 6648 6648 6726 6730
Exports 150 189 127 135 90 90 90 90
Total Use 6,115 6479 6966 7119 6738 6738 6826 6820
Ending Stocks 83 70 98 95 71 71 95 90
Stock-to-Use Ratio 1.35% 1.08% 1.43% 1.33% 1.05% 1.05% 1.39% 1.32%