Required Report - public distribution

**Date:** 3/1/2004

**GAIN Report Number:** CH4010

CH4007

**China, Peoples Republic of**

**Oilseeds and Products**

**Annual: Part 1 of 2 - Analysis**

**2004**

**Approved by:**

![](media/image1.wmf)Maurice W. House

U.S. Embassy, Beijing

**Prepared by:**

Jim Butterworth & Wu Xinping

**Report Highlights:**

This report forecasts MY04/05 total soybean imports to reach 25 MMT and
the preliminary estimate of soybean imports for MY03/04 is 22 MMT. High
soybean prices, high freight rates and, to a lesser extent, the current
problems caused by avian influenza, will limit imports in the near term.
Longer term, however, limited land, a strong economy, and large absolute
population increases are expected to continue driving oilseed imports
higher. (Analysis as of March 1, 2004)

Includes PSD Changes: Yes

Includes Trade Matrix: No

Annual Report

Beijing \[CH1\]

\[CH\]

Table of Contents

[**Executive Summary 4**](#executive-summary)

[Oilseeds Situation and Outlook 4](#oilseeds-situation-and-outlook)

[Total Oilseeds 4](#total-oilseeds)

[Soybeans 5](#soybeans)

[Production 5](#production)

[Trade 5](#trade)

[Policy 5](#policy)

[Marketing 6](#marketing)

[Stocks 6](#stocks)

[Rapeseed 6](#rapeseed)

[Peanuts 7](#peanuts)

[Sunflower Seeds 7](#sunflower-seeds)

[Oil Meal Situation and Outlook 7](#oil-meal-situation-and-outlook)

[Soybean Meal 7](#soybean-meal)

[Production & Consumption 7](#production-consumption)

[Trade 8](#trade-1)

[Fishmeal 8](#fishmeal)

[Oil Situation and Outlook 9](#oil-situation-and-outlook)

[Total Oils 9](#total-oils)

[Soybean Oil 10](#soybean-oil)

[Rapeseed Oil 11](#rapeseed-oil)

[Palm & Other Oils 11](#palm-other-oils)

[Statistical Tables 13](#statistical-tables)

[Total Oilseeds, Total Meal, and Total Oil PSD Tables:
13](#total-oilseeds-total-meal-and-total-oil-psd-tables)

[Table 1. Total Oilseeds 13](#table-1.-total-oilseeds)

[Table 2. Total Meals 14](#table-2.-total-meals)

[Table 3. Total Oils 15](#table-3.-total-oils)

[Oilseeds PSD Tables 16](#oilseeds-psd-tables)

[Table 4. Soybeans 16](#table-4.-soybeans)

[Table 5. Rapeseed 17](#table-5.-rapeseed)

[Table 6. Peanuts 18](#table-6.-peanuts)

[Table 7. Sunflower Seed 19](#table-7.-sunflower-seed)

[Meals PSD Tables 20](#meals-psd-tables)

[Table 8. Soybean Meal 20](#table-8.-soybean-meal)

[Table 9. Rapeseed Meal 21](#table-9.-rapeseed-meal)

[Table 10. Peanut Meal 22](#table-10.-peanut-meal)

[Table 11. Sunflower Seed Meal 23](#table-11.-sunflower-seed-meal)

[Table 12. Fishmeal 24](#table-12.-fishmeal)

[Oil PSD Tables 25](#oil-psd-tables)

[Table 13. Soybean Oil 25](#table-13.-soybean-oil)

[Table 14. Rapeseed Oil 26](#table-14.-rapeseed-oil)

[Table 15. Peanut Oil 27](#table-15.-peanut-oil)

[Table 16. Palm Oil 28](#table-16.-palm-oil)

[Table 17. Sunflower Seed Oil 29](#table-17.-sunflower-seed-oil)

[Table 18. Coconut Oil (Copra) 30](#table-18.-coconut-oil-copra)

[Soybean & Rapeseed Wholesale Price Tables
31](#soybean-rapeseed-wholesale-price-tables)

[Table 19. Wholesale Soybean Prices CY2003
31](#table-19.-wholesale-soybean-prices-cy2003)

[Table 20. Wholesale Soybean Meal Prices in CY2003
31](#table-20.-wholesale-soybean-meal-prices-in-cy2003)

[Table 21. Wholesale Soybean Oil Prices in CY2003
32](#table-21.-wholesale-soybean-oil-prices-in-cy2003)

[Table 22. Wholesale Rapeseed Oil Prices in CY2003
32](#table-22.-wholesale-rapeseed-oil-prices-in-cy2003)

[Table 23. A Comparison of Wholesale Prices for Soy and Rapeseed Oil in
CY2003
32](#table-23.-a-comparison-of-wholesale-prices-for-soy-and-rapeseed-oil-in-cy2003)

[Tariff Rate Quota Tables 33](#tariff-rate-quota-tables)

[Table 25. Soybean Oil 33](#table-25.-soybean-oil)

[Table 26. Rapeseed Oil 33](#table-26.-rapeseed-oil)

[Table 27. Palm Oil 34](#table-27.-palm-oil)

[Taxes and Duties Tables (Jan 1 -- Dec 31, 2004)
35](#taxes-and-duties-tables-jan-1-dec-31-2004)

[Table 28. Oilseeds 35](#table-28.-oilseeds)

[Table 29. Oils 36](#table-29.-oils)

[Table 30. Oilseed Meals 37](#table-30.-oilseed-meals)

# Executive Summary

After several years of very rapid growth, China's oilseeds and products
market will slow during the rest of MY03/04 and MY04/05. Tight world
soybean supplies have pushed soybean prices to recent record levels.
Also, shipping rates have more than doubled since fall 2003. These high
prices, coupled with a drop in demand for soybean meal caused by the
outbreak of avian influenza (AI), have led to negative crushing margins
and prompted many crushers to curtail or temporarily suspend production.

The current gloom not withstanding, with a 9.1 percent GDP increase in
2002, population growing by 6 million per annum, and a growing middle
class that has more disposable income to spend on meats, oils, fish, and
dairy products, the long-term outlook for oilseeds and related products
in China remains very bright.

Also see CH4011 for detailed trade tables.

# Oilseeds Situation and Outlook

## Total Oilseeds

The MY04/05 total oilseed production forecast is 46.35 MMT from a
planted area of 24.35 million hectares. These figures are 2 percent and
1 percent higher respectively than in MY03/04. Soybeans account for 36
percent of the total production, followed by peanuts (34 percent),
rapeseed (25 percent), and sunflower seed (5 percent). These percentages
are consistent with recent years. Competition for land from other crops,
especially cotton and grains, limits any substantial increases in
planted areas. China's "go slow" approach on the commercialization of
biotech products will limit yield increases.

Freight rates from U.S. Gulf ports have more than doubled since last
fall. The current rate for Panamax vessels from U.S. Gulf ports to China
is over US\$80 per MT, with some reports as high as US\$90 per ton. This
is double the rate as recently as Oct 2003. Panamax rates were pushed up
by the Capesize sector, especially in the Pacific. Increased scrapping
of old ships combined with China's seemingly insatiable appetite for raw
materials, especially minerals, put extra pressures on availability of
tonnage.

Total crushing capacity is estimated to be 57--60 MMT, up from last
year's estimate of 50-55 MMT. Most crushers report they easily can
switch between crushing soybeans and rapeseed. Consolidation of the
crushing industry continues. Small, inefficient crushers are being
forced to close while large efficient crushers are expanding capacity.
Last year, a well-known crushing plant near Shanghai expanded its
capacity, reportedly making it the largest crusher in the world.

On Feb 13, 2004, China published a draft standard for oilseeds,
including soybeans, rapeseed, sunflower seeds, peanuts, sesame, and
cotton seed. It stipulates hygienic indices, testing methods, and the
hygienic requirements in packaging, labeling, storage, and
transportation of oilseeds that are used for producing edible oils. FAS
is analyzing the potential impact of this draft regulation at this time.

## Soybeans

### Production

Soybean production for MY04 is forecast at 16.70 MMT, which is only
slightly more than the MY03's preliminary estimate of 16.50 MMT.
Competition for land from other crops, especially cotton and grains,
will limit any substantial increase in soybean planted area during
MY04/05. In the provinces of Shandong, Anhui, and Henan, where farmers
can grow cotton or soybeans, they most likely will choose to plant more
cotton because of very high cotton prices in MY03/04. Industry and
government sources are forecasting significant increases in area planted
to cotton. Any future increases in production will have to come from
increased yields. Given the government's very cautious approach to the
application of biotechnology, no dramatic increases in yields are
expected in the foreseeable future. Also, the GOC's agricultural policy
makers have expressed considerable concern about the drop in grain
production and are encouraging farmers to plant more grain to alleviate
the shortfall. Whether farmers will follow the government's guidelines
or "plant their pocket book" is difficult to predict at this time.

### 

### Trade

The forecast for MY04/05 soybean imports is 25.00 MMT and the
preliminary estimate for MY03/04 is 22.00 MMT (Note: USDA's Feb 2003
official estimate of the latter is 23.00 MMT). High soybean prices
combined with very high freight rates are the primary reasons for the
slowing in imports as compared with recent years. Although avian
influenza (AI) has sharply reduced soybean meal demand in the short
term, in the long run, the price factors mentioned above are more
important than AI in limiting soybean import demand.

Imports in MY03/04 reached 21.4 MMT. Late season buying pushed imports
well above even the most optimistic forecasts, which were in the 17-18
MMT range. It is clear now that crushers overbought and they are
delaying buying imported soybeans while they digest excessive inventory.

The United States remains the number one soybean supplier, but not by
much. As the table below shows, Brazil continues to gain market share at
the expense of Argentina and the United States.

  ------------ ------------ --------- -------------- -------- ------------ --------
               Oct 00 --              Oct 01 -- Sept          Oct 02 --    
               Sept 01                02                      Sept 03      

               MT           \% Share  MT             \% Share MT           \% Share

  United       6,221,884    46.97%    4,461,029      42.95%   7,702,997    35.97%
  States                                                                   

  Brazil       2,696,516    20.36%    2,792,854      26.89%   7,492,534    34.99%

  Argentina    4,292,090    32.40%    3,117,724      30.02%   6,207,244    28.98%

  Other        35,674       0.27%     14,293         .14%     12,969       .06%

  Total        13,246,164   100.00%   \*10,385,901   100%     21,416,430   100%
  ------------ ------------ --------- -------------- -------- ------------ --------

\* Imports in MY01/02 decreased because of China's temporary prohibition
against importing biotech-derived soybeans.

### Policy

Biotech update On February 20, 2004, China's Ministry of Agriculture's
Office of Agricultural GMO issued final approval of Roundup Ready® (RR)
soybeans. The interim safety measures, which had permitted soybean
imports for the past two years, expire on April 20, 2004. Issuing the
final approval in February will allow traders to apply for and receive
necessary certificates in time to ensure no trade disruption. MOA held a
seminar for the trade on February 25 explaining the new system. In
bilateral negotiations U.S. officials have suggested that
shipment-by-shipment certification is unnecessarily burdensome.

Despite this breakthrough, China's policy makers remain ambivalent about
biotechnology. Although they approved the import of RR soybeans, farmers
still cannot legally plant them. Moreover, last year articles appeared
in the Chinese press indicating China would make its primary growing
region "GMO free." Although China is not a major exporter of soy-based
food products, its "GMO-free" policy for domestic soybeans would ensure
that China could still export such products to those European and Asian
markets that restrict the import of biotech-derived foods.

China's arbitrary application of sanitary and phytosanitary measures to
control soybean imports remains a cloud over the policy front. In August
2003, just prior to China's soybean harvest, China's quarantine
officials summoned FAS/Beijing staff to a meeting at which they
announced that four major trading companies would be "blacklisted"
because they had a history of shipping soybeans contained excessive
levels of *phytophthora*, which is a soil-borne disease. Although the
Chinese quarantine officials claim the disease does not exist in China,
it is widely believed that it does exist. This ban severely limited
imports for 1-2 months, which quickly caused a shortage of soybeans and
forced some crushers to curtail or temporarily shutdown operations.
Pressure from crushers and the highest levels of the US government
prompted Chinese quarantine officials to suspend implementation of the
ban. Technical discussions between USDA and Chinese officials continue.

### Marketing

China's soybean market continues to be characterized by two segments --
small crushers in the Northeastern provinces of Heilongjiang and Jilin,
that rely primarily on domestic soybeans, and large crushers in the
Southeast that rely primarily on imported soybeans. Although highway
infrastructure is improving, the rail infrastructure is barely adequate
and logistics problems persist. During the fall 2003 harvest, for
example, crushers in the Northeast reported problems finding rail cars
to transport domestic soybeans to their plants. They stated rail
officials were demanding an arbitrary "facilitation fee," i.e., a bribe,
for rail cars. This is a perennial problem that shows little sign of
improvement.

For general marketing information, contact the American Soybean
Association (ASA) is actively involved in marketing activities in China.
They can be reached via email at <beisoya@asachina.org>. FAS's
Agricultural Trade Office in Beijing also can provide marketing
assistance via <atobeijing@usda.gov>.

### Stocks

MY03/04 ending stocks are expected to rise to 5 MMT from 4.65 MMT in
MY02/03. MY04/05 ending stocks are forecast to be 5 MMT -- the same as
MY03/04.

## Rapeseed

The MY04/05 rapeseed production forecast is 11.8 MMT, which is 3.5
percent higher than the previous year. Planted area is forecast at 7.6
MHa, the same as last year. The increased production will come from
nominally higher yields.

MY 04/05 imports are forecast to be 650,000 MT, the same as last year's
preliminary estimate. Canada is expected to be the major supplier, as
its production is expected to rebound after several disastrous crops.

Exports are insignificant.

## Peanuts

The MY04/05 peanut production forecast is 15.58 MMT, up 2.3 percent from
MY03/04. Total crush domestic consumption is forecast to reach 7.7 MMT
MY04/05. Exports are forecast to be 1 MMT, which is consistent with
recent years. For additional details, see FAS/Beijing's, "Peanut Sector
Report," (CH3134) December 2003. In Aug 2002, China published a draft
standard that establishes maximum levels of aflatoxin B1 in foods,
including peanuts. See CH3022 for details. As of this writing, the
regulation has yet to be approved and implemented in its final form.

## Sunflower Seeds

Sunflower seeds remain a small component of China's oilseeds complex.
They are forecast to account for 5 percent of MY04/05 total oilseeds
production and 2 percent of crush domestic consumption. Approximately 50
percent of the total sunflower seed supply will be consumed as snacks.

Sunflower seed trade and processing for snacks is becoming somewhat more
organized and industrialized. Some relatively large traders and
processors have entered the industry. The crushing industry also has
become more industrialized in the major producing regions, but the
widely distributed production areas make large scale consolidation of
the industry difficult. Despite this difficulty, a newly constructed
crushing facility in Inner Mongolia is expected to be operational in
March 2004. It reportedly has an annual processing capacity of
processing 150 KMT of seeds and 50 KMT of refined sunflower oil. It
reportedly will be the largest sunflower seed crusher in China.

Exports of sunflower seed hit a record high of 70 KMT in CY03, up by 110
percent over CY02. Germany and Indonesia were the major destinations.

# 

# 

# Oil Meal Situation and Outlook

## 

The MY04/05 total oilseeds crush is forecast at 52.1 MMT and oil meal
production is forecast at 36.43 MMT. Soybean meal continues to dominate
the oil meal complex. It accounts for 69 percent of total meal
production followed by rapeseed meal (21 percent), and peanut meal (8
percent), with fishmeal and sunflower seed meal accounting for the
remaining 2 percent.

## Soybean Meal

### Production & Consumption

The MY04/05 soybean meal (SBM) production forecast is 25 MMT, up 10
percent from MY03/04's preliminary estimate of 22.5 MMT. The dairy and
aquaculture sectors are expected to consume most of the increase. Also,
swine producers are expected to replace some fishmeal with SBM, which
also will contribute to increased demand. Analysis of the individual
sectors follows:

Poultry - China's broiler production for 2004 is forecast to remain flat
at 10 MMT due to AI. The outbreak of AI in China is expected to limit
any growth typically seen year-to-year. China's poultry egg production
for 2004 is forecast to increase three percent from 25.3 MMT in 2003 to
26.1 MT due to strong consumer demand. Thus far, the AI situation has
not reduced poultry egg production or consumption. (See CH4004 for
additional details.)

Swine & Dairy - China's swine production this year is forecast at 44.9
million head, a slight increase from last year. Dairy cow numbers in
2004 are estimated to be 30 percent above the previous year as the
result of strong consumer demand for dairy products. (See CH4003 for
additional details.)

Aquaculture - with all the doom-n-gloom in the poultry sector,
aquaculture is a bright spot in the meal picture. ASA/China has several
programs that target this sector. One program is targeting the
feed-taking species, which constitute a potential feed market of 18-20
MMT, depending on what one accepts as a reasonable feed conversion
ratio. This translates into a SBM market opportunity of about 7 MMT, of
which only 4-4.5 MMT has been realized to date. The marine fish culture
industry represents the most significant future opportunity for
increased SBM sales in China. It is the fastest growing aquaculture
sector, and is being pushed by the GOC to replace declining landings of
captured marine fish (See discussion in Fishmeal section below). Capture
fishery landings are falling because of over-fishing and loss of fishing
grounds due to new fishing trade agreements with other Asian countries.
The GOC has mandated that all future growth in fisheries must come from
aquaculture. This has stimulated growth of the culture of high market
value marine fish in near-shore ocean cages. This industry has grown to
approximately 1 million cages in the past five years, with production of
0.5 MMT of cultured marine fish. Given that global demand for cultured
fish is projected to increase from 35 to 50 MMT or more over the next 25
years, this industry has significant potential for growth to satisfy
both domestic and export markets. ASA/China's program has demonstrated
that SBM can replace a significant portion of fishmeal in the diets of
the key marine fish cultured in China. SBM inclusion rates in ASA marine
fish diets are currently 35 percent. The marine fish culture industry
represents a large potential market for SBM sales, as producers move
from feeding "trash fish" to feeding manufactured feeds, and as the
industry expands production. It is difficult to estimate what the
potential market for SBM will be in this sector. SBM demand in the near
term will not be as large as for the freshwater fish culture sector, but
it could become equally or more important in the long-term. (Source:
ASA/China)

### Trade

Exports: SMB exports continue to be a residual market. Industry sources
indicated that whenever the export price is more profitable than the
domestic price and crushers have extra SBM, they will continue to export
it, primarily to Japan and South Korea, but they have no intention of
expanding their crush capacity solely to serve the export market.
Exports are forecast to be 1 percent of total production.

Imports: one boatload was imported from India during CY03. Given the
current oversupply of SBM, such imports are not likely to occur in the
coming year. Industry sources indicated that the quality of imported SBM
generally is poor.

## Fishmeal

Fishmeal continues to be a small part of the oil meal complex and its
role is expected to continue shrinking in the near future. Domestic
fishmeal production continues to decline along with China's shrinking
marine fisheries resources. With an annual processing capacity of about
1.5 MMT, China's 500 fishmeal mills, most of which are located in the
coastal areas of Zhejiang and Shandong provinces, produced approximately
400,000 MT of fishmeal in 2003, down by 15 percent against 2002, and far
below the estimated domestic demands estimated of 1.3 MMT. Quality
reportedly is lower as most of the raw fish consists of trash fish or
residues of fish processed for human consumption. Imports in 2003
dropped to 800,000 MT, down by 16 percent as compared with the previous
year.

Peru continues to dominate China's fishmeal imports with 57 percent of
the market share, and 19 percent for Chile, and 9 percent imported from
the US. According to FAS/Peru's preliminary unofficial estimates, total
catch in Peru was down last year due to longer than normal seasonal
fishing bans. Total catch in 2003 was 5.87 MMT as compared with 8.73 MMT
in 2002. Peru's fishmeal production was also down to 1.179 MMT as
compared with 1.819 MMT a year earlier. The tight supplies pushed prices
so high that Chinese buyers switched to other oil meals. Given the
current oversupply of SBM, poultry and swine producers will replace
fishmeal with SBM as much as possible. The aquaculture industry will
switch to soybean and rapeseed meals.

Imports of high protein steamed fishmeal from Chile increased rapidly in
recent years. Fishmeal shipped in containers reportedly is on the rise
because some container rates currently are cheaper than bulk rates. They
also allow more flexibility in quantity or origin cause less product
damage and loss. A total of 177 overseas fishmeal traders reportedly are
registered and permitted to export fishmeal to China, of which 17 are
from the United States.

On June 1, 2003, China published the State Fishmeal Standards. They were
scheduled to become effective on Dec 1, 2003. These standards establish
four grades based on crude protein, crude fat, moisture, ash, and salt.
Industry sources, however, reported that these standards have not yet
been made a part of importing contracts. If and when this will occur
remains unclear as of this writing.

# Oil Situation and Outlook

## Total Oils

The MY04/05 forecast of total oil production is 12.35 MMT, which is 6.7
percent higher the MY03/04 preliminary estimate of 11.57 MMT. Soybean
oil continues to be the number one oil produced in China, accounting for
45 percent, followed by rapeseed oil (34 percent), peanut oil (20
percent), and sunflower seed oil (1 percent) of total oil produced.
Total oil imports are forecast to increase to 5.98 MMT from 5.85 MMT the
year earlier. The MY04/05 forecast of total oil supply is 18.53 MMT
compared to 17.67 MMT the year earlier. Although meal demand currently
is weak, demand for oil remains strong, so they will import it, most
likely soybean oil from Argentina. The MY04/05 total food use domestic
consumption of oils is forecast at 18.23 MMT, which is 5.4 percent more
than MY03/04. This amounts to 14.24 kg per person based on China's
projected population in 2004. This is 39 percent less than Taiwan's 2001
per capita consumption of 23.27 kg. So, even though China's oil
consumption has grown rapidly in recent years, there still is
significant growth potential before it reaches the level of that in
Taiwan and other similar Asian markets. With a 9.1 percent increase in
GDP in 2002, a growing middle class that has more disposable income and
eats more and more meals outside the home, as stated at the outset, the
long-term outlook for oil and oilseed imports remains very bright.

+-----------+----------+-------+----------+-------+---------+-------+
| **        | **Oct 00 |       | #        |       | **Oct   |       |
| Country** | --Sept   |       | #######  |       | 02-Sept |       |
|           | 01**     |       | Oct 01 - |       | 03**    |       |
|           |          |       | -Sept 02 |       |         |       |
+-----------+----------+-------+----------+-------+---------+-------+
|           | MT       | \%    | MT       | \%    | MT      | \%    |
|           |          | Share |          | Share |         | Share |
+-----------+----------+-------+----------+-------+---------+-------+
| Argentina | 55296    | 7     | 215,137  | 5     | 1,      | 6     |
|           |          | 2.46% |          | 8.23% | 139,968 | 6.43% |
+-----------+----------+-------+----------+-------+---------+-------+
| Brazil    | 4,090    | 5.36% | 123,122  | 3     | 480,618 | 2     |
|           |          |       |          | 3.32% |         | 8.01% |
+-----------+----------+-------+----------+-------+---------+-------+
| United    | 12,788   | 1     | 20,548   | 5.56% | 95,006  | 5.54% |
| States    |          | 6.76% |          |       |         |       |
+-----------+----------+-------+----------+-------+---------+-------+
| Other     | 4,142    | 5.43% | 10,671   | 2.89% | 485     | 0.03% |
+-----------+----------+-------+----------+-------+---------+-------+
| Total     | 76,315   | 100%  | 369,478  | 100%  | 1,      | 100%  |
|           |          |       |          |       | 716,076 |       |
+-----------+----------+-------+----------+-------+---------+-------+

China's WTO accession agreement stipulates that imports of soybean oil,
rapeseed oil, and palm oil will remain subject to TRQs until Jan 1,
2006. The 2003 TRQ fill rates were as follows:

  ------------------ --------------------- -------------------- ----------
  **Product**        **CY03 TRQ**          **CY03 Imports**     **% Fill**

  Soybean Oil        2.8180 MMT            1.885 MMT            66.9%

  Rapeseed Oil       1.0186 MMT            0.152 MMT            14.9%

  Palm Oil           2.6000 MMT            3.340 MMT            128.5%
  ------------------ --------------------- -------------------- ----------

See Tables 25, 26, & 27 for additional details regarding these TRQs. On
the regulatory front, China published the following vegetable oil
related regulations:

  -------------- -------------- ------------ ---------- ------------------------
  **Product**    **Title**      **Status**   **FAS      **WTO Notice - Date**
                                             Report     
                                             \#**       

  Edible         GB2716-200X    Draft\*      N/A\*      G/SPS/N/CHN/51 --
  Vegetable Oil                                         2/13/04

  Edible         GB17402-xxxx   Draft        CH3099     N/A
  Hydrogenated                                          
  Oil                                                   

  Peanut Oil     GB1534-xxxx    Draft\*      N/A\*      G/TBT/N/CHN/24 --
                                                        7/28/03

  Soybean Oil    GB1535-xxxx    Draft\*      N/A\*      G/TBT/N/CHN/25 --
                                                        7/28/03

  Rapeseed Oil   GB1536-xxxx    Draft\*      N/A\*      G/SPS/N/CHN/43 -
                                                        12/23/04
  -------------- -------------- ------------ ---------- ------------------------

\*The final version is expected in the near future. FAS plans to publish
a translation at that time.

## 

## Soybean Oil

The MY04/05 soybean oil production forecast is 5.53 MMT, up 10.8 percent
from last year's preliminary estimate. Imports are forecast at 2 MMT,
which is the same as the MY03/04 estimate. Shipping rates for bulk oil
tankers reportedly have not risen as fast as Panamax rates. This price
advantage, combined with the current oversupply of SBM, make it more
profitable in some cases to import oil rather than to crush soybeans.
MY02/03 imports were 1.72 MMT, which represents nearly a five-fold
increase over MY01/02 imports. This occurred along with a doubling of
soybean imports, which indicates the strong demand for soybean oil As
the table below indicates, Argentina was the number one supplier with 66
percent of total imports, followed by Brazil with 28 percent and the
United States with 5.5 percent. Brazil's market share has been
increasing at the expense of the United States share.

  ------------- ---------- -------- ----------- -------- ----------- --------
  **Country**   **Oct 00            **Oct 01 --          **Oct 02 -  
                -- Sept             Sept 02**            Sept 03**   
                01**                                                 

                MT         \% Share MT          \% Share MT          \% Share

  Argentina     55296      72.46%   215,137     58.23%   1,139,968   66.43%

  Brazil        4,090      5.36%    123,122     33.32%   480,618     28.01%

  United States 12,788     16.76%   20,548      5.56%    95,006      5.54%

  Other         4,142      5.43%    10,671      2.89%    485         0.03%

  Total         76,315     100%     369,478     100%     1,716,076   100%
  ------------- ---------- -------- ----------- -------- ----------- --------

Soybean oil prices increased 22 percent between Jan-Dec 2002. See Table
21 for details.

## Rapeseed Oil

Rapeseed oil production is forecast to increase to 4.19 MMT in MY04/05
from 3.99 MMT in MY03/04. Imports are forecast to increase to 200,000 MT
from 150,000 MT in MY03/04. Exports are minimal and not expected to
change in MY04/05. The price of rapeseed oil increased 17 percent
Jan-Dec 2002. The average price during the same period, however, was
only 1.7 percent higher than the soybean oil price. See Tables 22 & 23
for details.

## Palm & Other Oils

Palm oil imports are forecast to increase to 3.6 MMT in MY04/04 from
3.54 MMT in MY03/04. Malaysia dominated China's MY02/03 palm oil
imports. It provided 74 percent of total imports. Indonesia was a
distant second with 25 percent and the remaining 1 percent came from
miscellaneous countries.

Demand for palm oil is very strong primarily because it currently is
cheaper than soybean oil. Some processors reportedly are blending palm
oil with other vegetable oils and selling it as cooking oil. Industry
sources estimated this use accounted for 1.7 MMT in 2003. Another factor
contributing to the strong demand is increased demand for processed
foods, especially instant noodles, which use large amounts of palm oil.
In China, packaged ready-to-eat instant noodles, which only require
adding hot water, are popular with travelers, casual workers, and some
office workers. With more and more people traveling and eating outside
of the home, demand for instant noodles has risen sharply in recent
years and is expected to continue rising in the near future.

This strong palm oil demand will be supplied by imports. Given the sharp
increase in freight rates over the past year, China's close proximity to
Malaysia and other major palm oil producers, gives palm oil the
advantage of cheaper shipping costs relative to other oils. Given that
CY03 palm oil imports (3.34 MMT) exceeded the CY03 TRQ, which is 2.6 MMT
and in-quota rate is 9 percent while the out-of-quota tariff rate is
30.7 percent, one could reasonably assume that not every importer paid
the higher out-of-quota rate for the over quota quantity. The TRQ
stipulates that China should increase the TRQ if demand in the previous
year exceeded that years TRQ. Given the manner in which China
administers the TRQ, it is difficult to state with any certainty whether
these over-quota imports paid the over-quota tariff or the in-quota
tariff. Reports of smuggling of palm oil persist in the market.
Estimating the total quantity that is smuggled into China, however,
remains a difficult task.

The CY04 TRQ will increase to 2.7 MMT. The share reserved for state
owned enterprises will decrease to 18 percent from 26 percent to during
the same period.

Sunflower oil is becoming increasing popular among heath conscious,
high-income urban consumers. Recently it is more easily found than in
the past in supermarkets in Beijing, Guangzhou, and Shanghai. This
increased popularity not withstanding, given that sunflower seed oil
generally is priced 30 percent higher than soybean oil, it is likely to
remain a niche market product accounting for a very small part of the
total oil consumption.

No major changes are forecast for coconut oil. The Philippines and
Indonesia are the major suppliers.

# Statistical Tables

Note: For purposes of calculating per capita consumption, according the
China's National Statistics Bureau, as of Dec 31, 2002, China's official
population, not including Taiwan or Hong Kong, was 1,284,530,000.

## Total Oilseeds, Total Meal, and Total Oil PSD Tables:

### Table 1. Total Oilseeds

+--------------------+-------+-------+-------+-------+-------+-------+
| ###### PSD Table   |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| **Country**        | **C   |       |       |       |       |       |
|                    | hina, |       |       |       |       |       |
|                    | Pe    |       |       |       |       |       |
|                    | oples |       |       |       |       |       |
|                    | Rep   |       |       |       |       |       |
|                    | ublic |       |       |       |       |       |
|                    | of**  |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| **Commodity**      | **    |       |       |       |       |       |
|                    | Total |       |       |       |       |       |
|                    | Oilse |       |       |       |       |       |
|                    | eds** |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
|                    | 2002  | Re    | 2003  | Est   | 2004  | For   |
|                    |       | vised |       | imate |       | ecast |
+--------------------+-------+-------+-------+-------+-------+-------+
|                    | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                    | Off   | Est   | Off   | Est   | Off   | Est   |
|                    | icial | imate | icial | imate | icial | imate |
|                    | \[    | \[    | \[    | \[    | \[    | \[    |
|                    | Old\] | New\] | Old\] | New\] | Old\] | New\] |
+--------------------+-------+-------+-------+-------+-------+-------+
| **Market Year      | 2002  | Re    | 2003  | Est   | 2004  | For   |
| Begin**            |       | vised |       | imate |       | ecast |
+--------------------+-------+-------+-------+-------+-------+-------+
| Area Planted       | 24200 | 24250 | 16100 | 24090 | 0     | 24350 |
+--------------------+-------+-------+-------+-------+-------+-------+
| Area Harvested     | 21983 | 21914 | 23200 | 23190 | 0     | 23250 |
+--------------------+-------+-------+-------+-------+-------+-------+
| Beginning Stocks   | 2095  | 2092  | 4467  | 4650  | 4567  | 5000  |
+--------------------+-------+-------+-------+-------+-------+-------+
| Production         | 43740 | 43823 | 44800 | 45320 | 0     | 46350 |
+--------------------+-------+-------+-------+-------+-------+-------+
| MY Imports         | 21475 | 21471 | 23665 | 22665 | 0     | 25663 |
+--------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from U.S.  | 7705  | 7704  | 9005  | 9005  | 0     | 9405  |
+--------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from the   | 0     | 50    | 0     | 58    | 0     | 0     |
| EC                 |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| TOTAL SUPPLY       | 67310 | 67386 | 72932 | 72635 | 4567  | 77013 |
+--------------------+-------+-------+-------+-------+-------+-------+
| MY Exports         | 1406  | 1421  | 1345  | 1230  | 0     | 1355  |
+--------------------+-------+-------+-------+-------+-------+-------+
| MY Exp. to the EC  | 165   | 266   | 150   | 203   | 0     | 213   |
+--------------------+-------+-------+-------+-------+-------+-------+
| Crush Dom.         | 44946 | 44517 | 49900 | 48310 | 0     | 52110 |
| Consumption        |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Food Use Dom.      | 13220 | 13667 | 13630 | 14475 | 0     | 15153 |
| Consump.           |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Feed,Seed,Waste    | 3271  | 3131  | 3490  | 3620  | 0     | 3395  |
| Dm.Cn.             |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.         | 61437 | 61315 | 67020 | 66405 | 0     | 70658 |
| Consumption        |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks      | 4467  | 4650  | 4567  | 5000  | 0     | 5000  |
+--------------------+-------+-------+-------+-------+-------+-------+
| TOTAL DISTRIBUTION | 67310 | 67386 | 72932 | 72635 | 0     | 77013 |
+--------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year      | 18150 | 11940 | 19050 | 21354 | 0     | 25610 |
| Imports            |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Calendar Yr Imp.   | 6000  | 4681  | 6000  | 8298  | 0     | 9805  |
| U.S.               |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year      | 1375  | 1416  | 1425  | 1438  | 0     | 1565  |
| Exports            |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Calndr Yr Exp. to  | 0     | 12    | 0     | 16    | 0     | 0     |
| U.S.               |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+

### Table 2. Total Meals

<table style="width:100%;">
<colgroup>
<col style="width: 25%" />
<col style="width: 7%" />
<col style="width: 4%" />
<col style="width: 5%" />
<col style="width: 6%" />
<col style="width: 4%" />
<col style="width: 7%" />
<col style="width: 2%" />
<col style="width: 9%" />
<col style="width: 1%" />
<col style="width: 11%" />
<col style="width: 12%" />
</colgroup>
<tbody>
<tr class="odd">
<td><h6 id="psd-table-1">PSD Table</h6></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="11"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="11"><strong>Total Meal</strong></td>
</tr>
<tr class="even">
<td></td>
<td colspan="2">2002</td>
<td colspan="2">Revised</td>
<td colspan="2">2003</td>
<td colspan="2">Estimate</td>
<td colspan="2">2004</td>
<td>Forecast</td>
</tr>
<tr class="odd">
<td></td>
<td colspan="2">USDA Official [Old]</td>
<td colspan="2">Post Estimate [New]</td>
<td colspan="2">USDA Official [Old]</td>
<td colspan="2">Post Estimate [New]</td>
<td colspan="2">USDA Official [Old]</td>
<td>Post Estimate [New]</td>
</tr>
<tr class="even">
<td><h6 id="market-year-begin">Market Year Begin</h6></td>
<td colspan="2"></td>
<td colspan="2">10/2002</td>
<td colspan="2"></td>
<td colspan="2">10/2003</td>
<td colspan="2"></td>
<td>10/2004</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td colspan="2">44946</td>
<td colspan="2">44517</td>
<td colspan="2">48316</td>
<td colspan="2">48310</td>
<td colspan="2">0</td>
<td>52110</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td colspan="2">31605</td>
<td colspan="2">30950</td>
<td colspan="2">34175</td>
<td colspan="2">33555</td>
<td colspan="2">0</td>
<td>36425</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td colspan="2">817</td>
<td colspan="2">817</td>
<td colspan="2">914</td>
<td colspan="2">822</td>
<td colspan="2">0</td>
<td>800</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td colspan="2">60</td>
<td colspan="2">73</td>
<td colspan="2">0</td>
<td colspan="2">75</td>
<td colspan="2">0</td>
<td>75</td>
</tr>
<tr class="odd">
<td>MY Imp. from the EC</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
</tr>
<tr class="even">
<td>TOTAL SUPPLY</td>
<td colspan="2">32422</td>
<td colspan="2">31767</td>
<td colspan="2">35089</td>
<td colspan="2">34377</td>
<td colspan="2">0</td>
<td>37225</td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td colspan="2">1020</td>
<td colspan="2">1021</td>
<td colspan="2">1034</td>
<td colspan="2">1063</td>
<td colspan="2">0</td>
<td>1012</td>
</tr>
<tr class="even">
<td>MY Exp. to the EC</td>
<td colspan="2">25</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">30</td>
<td colspan="2">0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Consum</td>
<td colspan="2">4725</td>
<td colspan="2">4710</td>
<td colspan="2">4910</td>
<td colspan="2">5360</td>
<td colspan="2">0</td>
<td>5565</td>
</tr>
<tr class="even">
<td>Food Use Dom. Consump.</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Consum</td>
<td colspan="2">26677</td>
<td colspan="2">26036</td>
<td colspan="2">29145</td>
<td colspan="2">27954</td>
<td colspan="2">0</td>
<td>30648</td>
</tr>
<tr class="even">
<td>TOTAL Dom. Consumption</td>
<td colspan="2">31402</td>
<td colspan="2">30746</td>
<td colspan="2">34055</td>
<td colspan="2">33314</td>
<td colspan="2">0</td>
<td>36213</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
</tr>
<tr class="even">
<td>TOTAL DISTRIBUTION</td>
<td colspan="2">32422</td>
<td colspan="2">31767</td>
<td colspan="2">35089</td>
<td colspan="2">34377</td>
<td colspan="2">0</td>
<td>37225</td>
</tr>
<tr class="odd">
<td>Calendar Year Imports</td>
<td colspan="2">25</td>
<td colspan="2">804</td>
<td colspan="2">0</td>
<td colspan="2">836</td>
<td colspan="2">0</td>
<td>800</td>
</tr>
<tr class="even">
<td>Calendar Yr Imp. U.S.</td>
<td colspan="2">0</td>
<td colspan="2">73</td>
<td colspan="2">0</td>
<td colspan="2">75</td>
<td colspan="2">0</td>
<td>75</td>
</tr>
<tr class="odd">
<td>Calendar Year Exports</td>
<td colspan="2">800</td>
<td colspan="2">1288</td>
<td colspan="2">1160</td>
<td colspan="2">956</td>
<td colspan="2">0</td>
<td>1002</td>
</tr>
<tr class="even">
<td>Calndr Yr Exp. to U.S.</td>
<td colspan="2">0</td>
<td colspan="2">40</td>
<td colspan="2">40</td>
<td colspan="2">18</td>
<td colspan="2">0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 3. Total Oils

+------------------+-------+-------+-------+-------+---+-----+---+-------+
| ###### PSD Tabl  |       |       |       |       |   |     |   |       |
| e {#psd-table-2} |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| **Country**      | **C   |       |       |       |   |     |   |       |
|                  | hina, |       |       |       |   |     |   |       |
|                  | Pe    |       |       |       |   |     |   |       |
|                  | oples |       |       |       |   |     |   |       |
|                  | Rep   |       |       |       |   |     |   |       |
|                  | ublic |       |       |       |   |     |   |       |
|                  | of**  |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| **Commodity**    | **    |       |       |       |   |     |   |       |
|                  | Total |       |       |       |   |     |   |       |
|                  | O     |       |       |       |   |     |   |       |
|                  | ils** |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
|                  | 2002  | Re    | 2003  | Est   |   | 2   |   | For   |
|                  |       | vised |       | imate |   | 004 |   | ecast |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
|                  | USDA  | Post  | USDA  | Post  |   | U   |   | Post  |
|                  | Off   | Est   | Off   | Est   |   | SDA |   | Est   |
|                  | icial | imate | icial | imate |   | Of  |   | imate |
|                  | \[    | \[    | \[    | \[    |   | fic |   | \[    |
|                  | Old\] | New\] | Old\] | New\] |   | ial |   | New\] |
|                  |       |       |       |       |   | \   |   |       |
|                  |       |       |       |       |   | [Ol |   |       |
|                  |       |       |       |       |   | d\] |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| **Market Year    |       |       |       |       |   |     |   |       |
| Begin**          |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Crush            | 44946 | 44517 | 49900 | 48310 |   | 0   |   | 52110 |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Extr. Rate,      |       |       |       |       |   |     |   |       |
| 999.9999         |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Beginning Stocks | 210   | 210   | 250   | 250   |   | 220 |   | 200   |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Production       | 10703 | 10633 | 11800 | 11567 |   | 0   |   | 12345 |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| MY Imports       | 5071  | 5080  | 5400  | 5845  |   | 0   |   | 5980  |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| MY Imp. from     | 95    | 95    | 40    | 50    |   | 0   |   | 75    |
| U.S.             |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| MY Imp. from the | 45    | 37    | 0     | 40    |   | 0   |   | 40    |
| EC               |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| TOTAL SUPPLY     | 15984 | 15923 | 17450 | 17662 |   | 220 |   | 18525 |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| MY Exports       | 33    | 65    | 95    | 71    |   | 0   |   | 70    |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| MY Exp. to the   | 0     | 0     | 0     | 15    |   | 0   |   | 0     |
| EC               |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Industrial Dom.  | 0     | 0     | 0     | 0     |   | 0   |   | 0     |
| Consum           |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Food Use Dom.    | 15701 | 15608 | 17135 | 17391 |   | 0   |   | 18325 |
| Consump.         |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Feed Waste Dom.  | 0     | 0     | 0     | 0     |   | 0   |   | 0     |
| Consum           |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| TOTAL Dom.       | 15701 | 15608 | 17135 | 17391 |   | 0   |   | 18325 |
| Consumption      |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Ending Stocks    | 250   | 250   | 220   | 200   |   | 0   |   | 130   |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| TOTAL            | 15984 | 15923 | 17450 | 17662 |   | 0   |   | 18525 |
| DISTRIBUTION     |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Calendar Year    | 500   | 3292  | 1200  | 5556  |   | 0   |   | 5840  |
| Imports          |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Calendar Yr Imp. | 100   | 21    | 400   | 95    |   | 0   |   | 100   |
| U.S.             |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Calendar Year    | 50    | 87    | 50    | 61    |   | 0   |   | 80    |
| Exports          |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+
| Calndr Yr Exp.   | 0     | 0     | 0     | 0     |   | 0   |   | 0     |
| to U.S.          |       |       |       |       |   |     |   |       |
+------------------+-------+-------+-------+-------+---+-----+---+-------+

## Oilseeds PSD Tables

### Table 4. Soybeans

+---------------------+-------+-------+-------+-------+-------+-------+
| ####### PSD T       |       |       |       |       |       |       |
| able {#psd-table-3} |       |       |       |       |       |       |
+---------------------+-------+-------+-------+-------+-------+-------+
| **Country**         | **C   |       |       |       |       |       |
|                     | hina, |       |       |       |       |       |
|                     | Pe    |       |       |       |       |       |
|                     | oples |       |       |       |       |       |
|                     | Rep   |       |       |       |       |       |
|                     | ublic |       |       |       |       |       |
|                     | of**  |       |       |       |       |       |
+---------------------+-------+-------+-------+-------+-------+-------+
| **Commodity**       | **Oil |       |       |       | (1000 |       |
|                     | seed, |       |       |       | HA)   |       |
|                     | Soyb  |       |       |       | (1000 |       |
|                     | ean** |       |       |       | MT)   |       |
+---------------------+-------+-------+-------+-------+-------+-------+
|                     | 2002  | Re    | 2003  | Est   | 2004  | For   |
|                     |       | vised |       | imate |       | ecast |
+---------------------+-------+-------+-------+-------+-------+-------+
|                     | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                     | Off   | Est   | Off   | Est   | Off   | Est   |
|                     | icial | imate | icial | imate | icial | imate |
|                     | \[    | \[    | \[    | \[    | \[    | \[    |
|                     | Old\] | New\] | Old\] | New\] | Old\] | New\] |
+---------------------+-------+-------+-------+-------+-------+-------+
| **Market Year       |       | 10    |       | 10    |       | 10    |
| Begin**             |       | /2002 |       | /2003 |       | /2004 |
+---------------------+-------+-------+-------+-------+-------+-------+
| Area Planted        | 9500  | 9550  | 9800  | 9500  | 0     | 9500  |
+---------------------+-------+-------+-------+-------+-------+-------+
| Area Harvested      | 8720  | 8720  | 9400  | 9000  | 0     | 9000  |
+---------------------+-------+-------+-------+-------+-------+-------+
| Beginning Stocks    | 2095  | 2092  | 4467  | 4650  | 4567  | 5000  |
+---------------------+-------+-------+-------+-------+-------+-------+
| Production          | 16510 | 16507 | 16200 | 16500 | 0     | 16700 |
+---------------------+-------+-------+-------+-------+-------+-------+
| MY Imports          | 21417 | 21416 | 23000 | 22000 | 0     | 25000 |
+---------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from U.S.   | 7700  | 7703  | 9000  | 9000  | 0     | 9400  |
+---------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from the EC | 0     | 0     | 0     | 0     | 0     | 0     |
+---------------------+-------+-------+-------+-------+-------+-------+
| TOTAL SUPPLY        | 40022 | 40015 | 43667 | 43150 | 4567  | 46700 |
+---------------------+-------+-------+-------+-------+-------+-------+
| MY Exports          | 265   | 265   | 200   | 265   | 0     | 300   |
+---------------------+-------+-------+-------+-------+-------+-------+
| MY Exp. to the EC   | 0     | 3     | 0     | 3     | 0     | 3     |
+---------------------+-------+-------+-------+-------+-------+-------+
| Crush Dom.          | 26990 | 26500 | 30250 | 28500 | 0     | 31600 |
| Consumption         |       |       |       |       |       |       |
+---------------------+-------+-------+-------+-------+-------+-------+
| Food Use Dom.       | 6550  | 7000  | 6800  | 7500  | 0     | 8000  |
| Consump.            |       |       |       |       |       |       |
+---------------------+-------+-------+-------+-------+-------+-------+
| Feed,Seed,Waste     | 1750  | 1600  | 1850  | 1885  | 0     | 1800  |
| Dm.Cn.              |       |       |       |       |       |       |
+---------------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.          | 35290 | 35100 | 38900 | 37885 | 0     | 41400 |
| Consumption         |       |       |       |       |       |       |
+---------------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks       | 4467  | 4650  | 4567  | 5000  | 0     | 5000  |
+---------------------+-------+-------+-------+-------+-------+-------+
| TOTAL DISTRIBUTION  | 40022 | 40015 | 43667 | 43150 | 0     | 46700 |
+---------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year       | 18000 | 11316 | 18500 | 20744 | 0     | 25000 |
| Imports             |       |       |       |       |       |       |
+---------------------+-------+-------+-------+-------+-------+-------+
| Calendar Yr Imp.    | 6000  | 4678  | 6000  | 8293  | 0     | 9800  |
| U.S.                |       |       |       |       |       |       |
+---------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year       | 300   | 276   | 300   | 267   | 0     | 300   |
| Exports             |       |       |       |       |       |       |
+---------------------+-------+-------+-------+-------+-------+-------+
| Calndr Yr Exp. to   | 0     | 1     | 0     | 0     | 0     | 0     |
| U.S.                |       |       |       |       |       |       |
+---------------------+-------+-------+-------+-------+-------+-------+

### Table 5. Rapeseed

+----------------------+-------+-------+-------+-------+---+------+-------+
| ###### PSD           |       |       |       |       |   |      |       |
| Table {#psd-table-4} |       |       |       |       |   |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
| **Country**          | **C   |       |       |       |   |      |       |
|                      | hina, |       |       |       |   |      |       |
|                      | Pe    |       |       |       |   |      |       |
|                      | oples |       |       |       |   |      |       |
|                      | Rep   |       |       |       |   |      |       |
|                      | ublic |       |       |       |   |      |       |
|                      | of**  |       |       |       |   |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
| **Commodity**        | **Oil |       |       |       |   | (    |       |
|                      | seed, |       |       |       |   | 1000 |       |
|                      | Rapes |       |       |       |   | HA)  |       |
|                      | eed** |       |       |       |   |      |       |
|                      |       |       |       |       |   | (    |       |
|                      |       |       |       |       |   | 1000 |       |
|                      |       |       |       |       |   | MT)  |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
|                      | 2002  | Re    | 2003  | Est   | 2 |      | For   |
|                      |       | vised |       | imate | 0 |      | ecast |
|                      |       |       |       |       | 0 |      |       |
|                      |       |       |       |       | 4 |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
|                      | USDA  | Post  | USDA  | Post  | U |      | Post  |
|                      | Off   | Est   | Off   | Est   | S |      | Est   |
|                      | icial | imate | icial | imate | D |      | imate |
|                      | \[    | \[    | \[    | \[    | A |      | \[    |
|                      | Old\] | New\] | Old\] | New\] | O |      | New\] |
|                      |       |       |       |       | f |      |       |
|                      |       |       |       |       | f |      |       |
|                      |       |       |       |       | i |      |       |
|                      |       |       |       |       | c |      |       |
|                      |       |       |       |       | i |      |       |
|                      |       |       |       |       | a |      |       |
|                      |       |       |       |       | l |      |       |
|                      |       |       |       |       | \ |      |       |
|                      |       |       |       |       | [ |      |       |
|                      |       |       |       |       | O |      |       |
|                      |       |       |       |       | l |      |       |
|                      |       |       |       |       | d |      |       |
|                      |       |       |       |       | \ |      |       |
|                      |       |       |       |       | ] |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
| **Market Year        |       | 10    |       | 10    |   |      | 10    |
| Begin**              |       | /2002 |       | /2003 |   |      | /2004 |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Area Planted         | 8500  | 8500  | 0     | 8000  | 0 |      | 8200  |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Area Harvested       | 7143  | 7143  | 7500  | 7600  | 0 |      | 7600  |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Beginning Stocks     | 0     | 0     | 0     | 0     | 0 |      | 0     |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Production           | 10552 | 10552 | 11600 | 11400 | 0 |      | 11800 |
+----------------------+-------+-------+-------+-------+---+------+-------+
| MY Imports           | 51    | 51    | 650   | 650   | 0 |      | 650   |
+----------------------+-------+-------+-------+-------+---+------+-------+
| MY Imp. from U.S.    | 0     | 0     | 0     | 0     | 0 |      | 0     |
+----------------------+-------+-------+-------+-------+---+------+-------+
| MY Imp. from the EC  | 0     | 50    | 0     | 58    | 0 |      | 0     |
+----------------------+-------+-------+-------+-------+---+------+-------+
| TOTAL SUPPLY         | 10603 | 10603 | 12250 | 12050 | 0 |      | 12450 |
+----------------------+-------+-------+-------+-------+---+------+-------+
| MY Exports           | 4     | 4     | 0     | 5     | 0 |      | 5     |
+----------------------+-------+-------+-------+-------+---+------+-------+
| MY Exp. to the EC    | 0     | 0     | 0     | 0     | 0 |      | 0     |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Crush Dom.           | 10016 | 10016 | 11600 | 11400 | 0 |      | 11950 |
| Consumption          |       |       |       |       |   |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Food Use Dom.        | 0     | 0     | 0     | 0     | 0 |      | 0     |
| Consump.             |       |       |       |       |   |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Feed,Seed,Waste      | 583   | 583   | 650   | 645   | 0 |      | 495   |
| Dm.Cn.               |       |       |       |       |   |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
| TOTAL Dom.           | 10599 | 10599 | 12250 | 12045 | 0 |      | 12445 |
| Consumption          |       |       |       |       |   |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Ending Stocks        | 0     | 0     | 0     | 0     | 0 |      | 0     |
+----------------------+-------+-------+-------+-------+---+------+-------+
| TOTAL DISTRIBUTION   | 10603 | 10603 | 12250 | 12050 | 0 |      | 12450 |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Calendar Year        | 150   | 618   | 550   | 600   | 0 |      | 600   |
| Imports              |       |       |       |       |   |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Calendar Yr Imp.     | 0     | 0     | 0     | 0     | 0 |      | 0     |
| U.S.                 |       |       |       |       |   |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Calendar Year        | 0     | 2     | 0     | 3     | 0 |      | 5     |
| Exports              |       |       |       |       |   |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+
| Calndr Yr Exp. to    | 0     | 0     | 0     | 0     | 0 |      | 0     |
| U.S.                 |       |       |       |       |   |      |       |
+----------------------+-------+-------+-------+-------+---+------+-------+

### Table 6. Peanuts

+--------------+------+-------+------------+---------+------+-------+
| ######       |      |       |            |         |      |       |
| PSD Table {# |      |       |            |         |      |       |
| psd-table-5} |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| **Country**  | **Ch |       |            |         |      |       |
|              | ina, |       |            |         |      |       |
|              | Peo  |       |            |         |      |       |
|              | ples |       |            |         |      |       |
|              | Repu |       |            |         |      |       |
|              | blic |       |            |         |      |       |
|              | of** |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| *            | **   |       |            |         | (    |       |
| *Commodity** | Oils |       |            |         | 1000 |       |
|              | eed, |       |            |         | HA)  |       |
|              | Pean |       |            |         |      |       |
|              | ut** |       |            |         | (    |       |
|              |      |       |            |         | 1000 |       |
|              |      |       |            |         | MT)  |       |
+--------------+------+-------+------------+---------+------+-------+
|              | 2002 | Re    | 2003       | E       | 2004 | For   |
|              |      | vised |            | stimate |      | ecast |
+--------------+------+-------+------------+---------+------+-------+
|              | USDA | Post  | USDA       | Post    | USDA | Post  |
|              | Offi | Est   | Official   | E       | Offi | Est   |
|              | cial | imate | \[Old\]    | stimate | cial | imate |
|              | \[O  | \[    |            | \[New\] | \[O  | \[    |
|              | ld\] | New\] |            |         | ld\] | New\] |
+--------------+------+-------+------------+---------+------+-------+
| **Market     |      | 10    |            | 10/2003 |      | 10    |
| Year Begin** |      | /2002 |            |         |      | /2004 |
+--------------+------+-------+------------+---------+------+-------+
| Area Planted | 5000 | 5000  | 5100       | 5390    | 0    | 5400  |
+--------------+------+-------+------------+---------+------+-------+
| Area         | 4920 | 4920  | 5100       | 5390    | 0    | 5400  |
| Harvested    |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| Beginning    | 0    | 0     | 0          | 0       | 0    | 0     |
| Stocks       |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| Production   | 1    | 14818 | 15100      | 15500   | 0    | 15850 |
|              | 4818 |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| MY Imports   | 2    | 2     | 5          | 5       | 0    | 3     |
+--------------+------+-------+------------+---------+------+-------+
| My Imp. from | 0    | 0     | 0          | 0       | 0    | 0     |
| U.S.         |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| MY Imp. from | 0    | 0     | 0          | 0       | 0    | 0     |
| the EC       |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| TOTAL SUPPLY | 1    | 14820 | 15105      | 15505   | 0    | 15853 |
|              | 4820 |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| MY Exports   | 1092 | 1092  | 1100       | 900     | 0    | 1000  |
+--------------+------+-------+------------+---------+------+-------+
| MY Exp. to   | 150  | 237   | 150        | 200     | 0    | 210   |
| the EC       |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| Crush Dom.   | 7150 | 7150  | 7250       | 7600    | 0    | 7700  |
| Consumption  |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| Food Use     | 5728 | 5718  | 5855       | 6005    | 0    | 6153  |
| Dom.         |      |       |            |         |      |       |
| Consump.     |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| Fee          | 850  | 860   | 900        | 1000    | 0    | 1000  |
| d,Seed,Waste |      |       |            |         |      |       |
| Dm.Cn.       |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| TOTAL Dom.   | 1    | 13728 | 14005      | 14605   | 0    | 14853 |
| Consumption  | 3728 |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| Ending       | 0    | 0     | 0          | 0       | 0    | 0     |
| Stocks       |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| TOTAL        | 1    | 14820 | 15105      | 15505   | 0    | 15853 |
| DISTRIBUTION | 4820 |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| Calendar     | 0    | 2     | 0          | 0       | 0    | 0     |
| Year Imports |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| Calendar Yr  | 0    | 0     | 0          | 0       | 0    | 0     |
| Imp. U.S.    |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| Calendar     | 1075 | 1109  | 1125       | 1098    | 0    | 1200  |
| Year Exports |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+
| Calndr Yr    | 0    | 11    | 0          | 16      | 0    | 0     |
| Exp. to U.S. |      |       |            |         |      |       |
+--------------+------+-------+------------+---------+------+-------+

### Table 7. Sunflower Seed

+----------------+--------+--------+--------+--------+--------+--------+
| ###            |        |        |        |        |        |        |
| ### PSD Table  |        |        |        |        |        |        |
| {#psd-table-6} |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| **Country**    | **     |        |        |        |        |        |
|                | China, |        |        |        |        |        |
|                | P      |        |        |        |        |        |
|                | eoples |        |        |        |        |        |
|                | Re     |        |        |        |        |        |
|                | public |        |        |        |        |        |
|                | of**   |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| **Commodity**  | **Oi   |        |        | (1000  |        |        |
|                | lseed, |        |        | HA     |        |        |
|                | Sun    |        |        | )(1000 |        |        |
|                | flower |        |        | MT)    |        |        |
|                | seed** |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
|                | 2002   | R      | 2003   | Es     | 2004   | Fo     |
|                |        | evised |        | timate |        | recast |
+----------------+--------+--------+--------+--------+--------+--------+
|                | USDA   | Post   | USDA   | Post   | USDA   | Post   |
|                | Of     | Es     | Of     | Es     | Of     | Es     |
|                | ficial | timate | ficial | timate | ficial | timate |
|                | \      | \      | \      | \      | \      | \      |
|                | [Old\] | [New\] | [Old\] | [New\] | [Old\] | [New\] |
+----------------+--------+--------+--------+--------+--------+--------+
| **Market Year  |        | 1      |        | 1      |        | 1      |
| Begin**        |        | 0/2002 |        | 0/2003 |        | 0/2004 |
+----------------+--------+--------+--------+--------+--------+--------+
| Area Planted   | 1200   | 1200   | 1200   | 1200   | 0      | 1250   |
+----------------+--------+--------+--------+--------+--------+--------+
| Area Harvested | 1200   | 1131   | 1200   | 1200   | 0      | 1250   |
+----------------+--------+--------+--------+--------+--------+--------+
| Beginning      | 0      | 0      | 0      | 0      | 0      | 0      |
| Stocks         |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| Production     | 1860   | 1946   | 1900   | 1920   | 0      | 2000   |
+----------------+--------+--------+--------+--------+--------+--------+
| MY Imports     | 5      | 2      | 10     | 10     | 0      | 10     |
+----------------+--------+--------+--------+--------+--------+--------+
| MY Imp. from   | 5      | 1      | 5      | 5      | 0      | 5      |
| U.S.           |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| MY Imp. from   | 0      | 0      | 0      | 0      | 0      | 0      |
| the EC         |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| TOTAL SUPPLY   | 1865   | 1948   | 1910   | 1930   | 0      | 2010   |
+----------------+--------+--------+--------+--------+--------+--------+
| MY Exports     | 45     | 60     | 45     | 60     | 0      | 50     |
+----------------+--------+--------+--------+--------+--------+--------+
| MY Exp. to the | 15     | 26     | 0      | 0      | 0      | 0      |
| EC             |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| Crush Dom.     | 790    | 851    | 800    | 810    | 0      | 860    |
| Consumption    |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| Food Use Dom.  | 942    | 949    | 975    | 970    | 0      | 1000   |
| Consump.       |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| F              | 88     | 88     | 90     | 90     | 0      | 100    |
| eed,Seed,Waste |        |        |        |        |        |        |
| Dm.Cn.         |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| TOTAL Dom.     | 1820   | 1888   | 1865   | 1870   | 0      | 1960   |
| Consumption    |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| Ending Stocks  | 0      | 0      | 0      | 0      | 0      | 0      |
+----------------+--------+--------+--------+--------+--------+--------+
| TOTAL          | 1865   | 1948   | 1910   | 1930   | 0      | 2010   |
| DISTRIBUTION   |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| Calendar Year  | 0      | 4      | 0      | 10     | 0      | 10     |
| Imports        |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| Calendar Yr    | 0      | 3      | 0      | 5      | 0      | 5      |
| Imp. U.S.      |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| Calendar Year  | 0      | 29     | 0      | 70     | 0      | 60     |
| Exports        |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+
| Calndr Yr Exp. | 0      | 0      | 0      | 0      | 0      | 0      |
| to U.S.        |        |        |        |        |        |        |
+----------------+--------+--------+--------+--------+--------+--------+

## Meals PSD Tables

### Table 8. Soybean Meal

+------------------+--------+---------+--------+------+------+---+-------+
| ###### PSD Tabl  |        |         |        |      |      |   |       |
| e {#psd-table-7} |        |         |        |      |      |   |       |
+------------------+--------+---------+--------+------+------+---+-------+
| **Country**      | **     |         |        |      |      |   |       |
|                  | China, |         |        |      |      |   |       |
|                  | P      |         |        |      |      |   |       |
|                  | eoples |         |        |      |      |   |       |
|                  | Re     |         |        |      |      |   |       |
|                  | public |         |        |      |      |   |       |
|                  | of**   |         |        |      |      |   |       |
+------------------+--------+---------+--------+------+------+---+-------+
| **Commodity**    | *      |         |        | (    |      |   |       |
|                  | *Meal, |         |        | 1000 |      |   |       |
|                  | Soy    |         |        | MT)( |      |   |       |
|                  | bean** |         |        | PERC |      |   |       |
|                  |        |         |        | ENT) |      |   |       |
+------------------+--------+---------+--------+------+------+---+-------+
|                  | 2002   | Revised | 2003   | Esti | 2004 | F |       |
|                  |        |         |        | mate |      | o |       |
|                  |        |         |        |      |      | r |       |
|                  |        |         |        |      |      | e |       |
|                  |        |         |        |      |      | c |       |
|                  |        |         |        |      |      | a |       |
|                  |        |         |        |      |      | s |       |
|                  |        |         |        |      |      | t |       |
+------------------+--------+---------+--------+------+------+---+-------+
|                  | USDA   | Post    | USDA   | Post | USDA | P |       |
|                  | Of     | E       | Of     | Esti | Offi | o |       |
|                  | ficial | stimate | ficial | mate | cial | s |       |
|                  | \      | \[New\] | \      | \[N  | \[O  | t |       |
|                  | [Old\] |         | [Old\] | ew\] | ld\] | E |       |
|                  |        |         |        |      |      | s |       |
|                  |        |         |        |      |      | t |       |
|                  |        |         |        |      |      | i |       |
|                  |        |         |        |      |      | m |       |
|                  |        |         |        |      |      | a |       |
|                  |        |         |        |      |      | t |       |
|                  |        |         |        |      |      | e |       |
|                  |        |         |        |      |      | \ |       |
|                  |        |         |        |      |      | [ |       |
|                  |        |         |        |      |      | N |       |
|                  |        |         |        |      |      | e |       |
|                  |        |         |        |      |      | w |       |
|                  |        |         |        |      |      | \ |       |
|                  |        |         |        |      |      | ] |       |
+------------------+--------+---------+--------+------+------+---+-------+
| **Market Year    |        | 10/2002 |        | 10/  |      | 1 |       |
| Begin**          |        |         |        | 2003 |      | 0 |       |
|                  |        |         |        |      |      | / |       |
|                  |        |         |        |      |      | 2 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 4 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Crush            | 26990  | 26500   | 30250  | 2    | 0    | 3 |       |
|                  |        |         |        | 8500 |      | 1 |       |
|                  |        |         |        |      |      | 6 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Extr. Rate,      | 0.7    | 0.      | 0.7    | 0.79 | #DI  | 0 |       |
| 999.9999         | 965913 | 7924528 | 950413 |      | V/0! | . |       |
|                  |        |         |        |      |      | 7 |       |
|                  |        |         |        |      |      | 9 |       |
|                  |        |         |        |      |      | 1 |       |
|                  |        |         |        |      |      | 1 |       |
|                  |        |         |        |      |      | 3 |       |
|                  |        |         |        |      |      | 9 |       |
|                  |        |         |        |      |      | 2 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Beginning Stocks | 0      | 0       | 0      | 0    | 0    | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Production       | 21500  | 21000   | 24050  | 2    | 0    | 2 |       |
|                  |        |         |        | 2515 |      | 5 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| MY Imports       | 0      | 0       | 50     | 2    | 0    | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| MY Imp. from     | 0      | 0       | 0      | 0    | 0    | 0 |       |
| U.S.             |        |         |        |      |      |   |       |
+------------------+--------+---------+--------+------+------+---+-------+
| MY Imp. from the | 0      | 0       | 0      | 0    | 0    | 0 |       |
| EC               |        |         |        |      |      |   |       |
+------------------+--------+---------+--------+------+------+---+-------+
| TOTAL SUPPLY     | 21500  | 21000   | 24100  | 2    | 0    | 2 |       |
|                  |        |         |        | 2517 |      | 5 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| MY Exports       | 795    | 795     | 800    | 900  | 0    | 9 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| MY Exp. to the   | 0      | 0       | 0      | 0    | 0    | 0 |       |
| EC               |        |         |        |      |      |   |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Industrial Dom.  | 640    | 600     | 800    | 640  | 0    | 7 |       |
| Consum           |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Food Use Dom.    | 0      | 0       | 0      | 0    | 0    | 0 |       |
| Consump.         |        |         |        |      |      |   |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Feed Waste Dom.  | 20065  | 19605   | 22500  | 2    | 0    | 2 |       |
| Consum           |        |         |        | 0977 |      | 3 |       |
|                  |        |         |        |      |      | 4 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| TOTAL Dom.       | 20705  | 20205   | 23300  | 2    | 0    | 2 |       |
| Consumption      |        |         |        | 1617 |      | 4 |       |
|                  |        |         |        |      |      | 1 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Ending Stocks    | 0      | 0       | 0      | 0    | 0    | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| TOTAL            | 21500  | 21000   | 24100  | 2    | 0    | 2 |       |
| DISTRIBUTION     |        |         |        | 2517 |      | 5 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Calendar Year    | 25     | 1       | 0      | 2    | 0    | 0 |       |
| Imports          |        |         |        |      |      |   |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Calendar Yr Imp. | 0      | 0       | 0      | 0    | 0    | 0 |       |
| U.S.             |        |         |        |      |      |   |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Calendar Year    | 800    | 1013    | 900    | 765  | 0    | 1 |       |
| Exports          |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
|                  |        |         |        |      |      | 0 |       |
+------------------+--------+---------+--------+------+------+---+-------+
| Calndr Yr Exp.   | 0      | 0       | 0      | 0    | 0    | 0 |       |
| to U.S.          |        |         |        |      |      |   |       |
+------------------+--------+---------+--------+------+------+---+-------+

### Table 9. Rapeseed Meal

<table>
<colgroup>
<col style="width: 23%" />
<col style="width: 12%" />
<col style="width: 1%" />
<col style="width: 11%" />
<col style="width: 1%" />
<col style="width: 11%" />
<col style="width: 1%" />
<col style="width: 10%" />
<col style="width: 2%" />
<col style="width: 10%" />
<col style="width: 12%" />
</colgroup>
<tbody>
<tr class="odd">
<td><h6 id="psd-table-8">PSD Table</h6></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="5"><strong>China, Peoples Republic of</strong></td>
<td colspan="5"></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="4"><strong>Meal, Rapeseed</strong></td>
<td colspan="4">(1000 MT)(PERCENT)</td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td></td>
<td colspan="2">2002</td>
<td colspan="2">Revised</td>
<td colspan="2">2003</td>
<td colspan="2">Estimate</td>
<td>2004</td>
<td>Forecast</td>
</tr>
<tr class="odd">
<td></td>
<td colspan="2">USDA Official [Old]</td>
<td colspan="2">Post Estimate [New]</td>
<td colspan="2">USDA Official [Old]</td>
<td colspan="2">Post Estimate [New]</td>
<td>USDA Official [Old]</td>
<td>Post Estimate [New]</td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td colspan="2"></td>
<td colspan="2">10/2002</td>
<td colspan="2"></td>
<td colspan="2">10/2003</td>
<td></td>
<td>10/2004</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td colspan="2">10016</td>
<td colspan="2">10016</td>
<td colspan="2">11600</td>
<td colspan="2">11400</td>
<td>0</td>
<td>11950</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td colspan="2">0.6314896</td>
<td colspan="2">0.6289936</td>
<td colspan="2">0.6318965</td>
<td colspan="2">0.6315789</td>
<td>#DIV/0!</td>
<td>0.6301255</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td colspan="2">6325</td>
<td colspan="2">6300</td>
<td colspan="2">7330</td>
<td colspan="2">7200</td>
<td>0</td>
<td>7530</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td colspan="2">14</td>
<td colspan="2">14</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from the EC</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>TOTAL SUPPLY</td>
<td colspan="2">6339</td>
<td colspan="2">6314</td>
<td colspan="2">7330</td>
<td colspan="2">7200</td>
<td>0</td>
<td>7530</td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td colspan="2">216</td>
<td colspan="2">216</td>
<td colspan="2">220</td>
<td colspan="2">150</td>
<td>0</td>
<td>100</td>
</tr>
<tr class="even">
<td>MY Exp. to the EC</td>
<td colspan="2">25</td>
<td colspan="2">0</td>
<td colspan="2">30</td>
<td colspan="2">30</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Consum</td>
<td colspan="2">4005</td>
<td colspan="2">4030</td>
<td colspan="2">4580</td>
<td colspan="2">4640</td>
<td>0</td>
<td>4785</td>
</tr>
<tr class="even">
<td>Food Use Dom. Consump.</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Consum</td>
<td colspan="2">2118</td>
<td colspan="2">2068</td>
<td colspan="2">2530</td>
<td colspan="2">2410</td>
<td>0</td>
<td>2645</td>
</tr>
<tr class="even">
<td>TOTAL Dom. Consumption</td>
<td colspan="2">6123</td>
<td colspan="2">6098</td>
<td colspan="2">7110</td>
<td colspan="2">7050</td>
<td>0</td>
<td>7430</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>TOTAL DISTRIBUTION</td>
<td colspan="2">6339</td>
<td colspan="2">6314</td>
<td colspan="2">7330</td>
<td colspan="2">7200</td>
<td>0</td>
<td>7530</td>
</tr>
<tr class="odd">
<td>Calendar Year Imports</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">14</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Calendar Yr Imp. U.S.</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Calendar Year Exports</td>
<td colspan="2">0</td>
<td colspan="2">260</td>
<td colspan="2">0</td>
<td colspan="2">182</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Calndr Yr Exp. to U.S.</td>
<td colspan="2">0</td>
<td colspan="2">40</td>
<td colspan="2">0</td>
<td colspan="2">18</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 10. Peanut Meal

<table>
<colgroup>
<col style="width: 23%" />
<col style="width: 13%" />
<col style="width: 0%" />
<col style="width: 12%" />
<col style="width: 0%" />
<col style="width: 12%" />
<col style="width: 11%" />
<col style="width: 1%" />
<col style="width: 10%" />
<col style="width: 0%" />
<col style="width: 12%" />
</colgroup>
<tbody>
<tr class="odd">
<td><h6 id="psd-table-9">PSD Table</h6></td>
<td></td>
<td colspan="2"></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="5"><strong>China, Peoples Republic of</strong></td>
<td colspan="5"></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="5"><strong>Meal, Peanut</strong></td>
<td colspan="5">(1000 MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td colspan="2">2002</td>
<td colspan="2">Revised</td>
<td>2003</td>
<td colspan="2">Estimate</td>
<td>2004</td>
<td colspan="2">Forecast</td>
</tr>
<tr class="odd">
<td></td>
<td colspan="2">USDA Official [Old]</td>
<td colspan="2">Post Estimate [New]</td>
<td>USDA Official [Old]</td>
<td colspan="2">Post Estimate [New]</td>
<td>USDA Official [Old]</td>
<td colspan="2">Post Estimate [New]</td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td colspan="2"></td>
<td colspan="2">10/2002</td>
<td></td>
<td colspan="2">10/2003</td>
<td></td>
<td colspan="2">10/2004</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td colspan="2">7150</td>
<td colspan="2">7150</td>
<td>7250</td>
<td colspan="2">7600</td>
<td>0</td>
<td colspan="2">7700</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td colspan="2">0.3916083</td>
<td colspan="2">0.3902097</td>
<td>0.3917241</td>
<td colspan="2">0.3947368</td>
<td>#DIV/0!</td>
<td colspan="2">0.3961038</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
<tr class="even">
<td>Production</td>
<td colspan="2">2800</td>
<td colspan="2">2790</td>
<td>2840</td>
<td colspan="2">3000</td>
<td>0</td>
<td colspan="2">3050</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
<tr class="odd">
<td>MY Imp. from the EC</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
<tr class="even">
<td>TOTAL SUPPLY</td>
<td colspan="2">2800</td>
<td colspan="2">2790</td>
<td>2840</td>
<td colspan="2">3000</td>
<td>0</td>
<td colspan="2">3050</td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td colspan="2">6</td>
<td colspan="2">6</td>
<td>15</td>
<td colspan="2">10</td>
<td>0</td>
<td colspan="2">10</td>
</tr>
<tr class="even">
<td>MY Exp. to the EC</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Consum</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
<tr class="even">
<td>Food Use Dom. Consump.</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Consum</td>
<td colspan="2">2794</td>
<td colspan="2">2784</td>
<td>2825</td>
<td colspan="2">2990</td>
<td>0</td>
<td colspan="2">3040</td>
</tr>
<tr class="even">
<td>TOTAL Dom. Consumption</td>
<td colspan="2">2794</td>
<td colspan="2">2784</td>
<td>2825</td>
<td colspan="2">2990</td>
<td>0</td>
<td colspan="2">3040</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
<tr class="even">
<td>TOTAL DISTRIBUTION</td>
<td colspan="2">2800</td>
<td colspan="2">2790</td>
<td>2840</td>
<td colspan="2">3000</td>
<td>0</td>
<td colspan="2">3050</td>
</tr>
<tr class="odd">
<td>Calendar Year Imports</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
<tr class="even">
<td>Calendar Yr Imp. U.S.</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
<tr class="odd">
<td>Calendar Year Exports</td>
<td colspan="2">0</td>
<td colspan="2">11</td>
<td>0</td>
<td colspan="2">6</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
<tr class="even">
<td>Calndr Yr Exp. to U.S.</td>
<td colspan="2">0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
<td>0</td>
<td colspan="2">0</td>
</tr>
</tbody>
</table>

### Table 11. Sunflower Seed Meal

+---------------+--------+--------+--------+--------+--------+--------+
| ######        |        |        |        |        |        |        |
|  PSD Table {# |        |        |        |        |        |        |
| psd-table-10} |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| **Country**   | **     |        |        |        |        |        |
|               | China, |        |        |        |        |        |
|               | P      |        |        |        |        |        |
|               | eoples |        |        |        |        |        |
|               | Re     |        |        |        |        |        |
|               | public |        |        |        |        |        |
|               | of**   |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| **Commodity** | *      |        |        | (1000  |        |        |
|               | *Meal, |        |        | MT)(PE |        |        |
|               | Sun    |        |        | RCENT) |        |        |
|               | flower |        |        |        |        |        |
|               | seed** |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
|               | 2002   | R      | 2003   | Es     | 2004   | Fo     |
|               |        | evised |        | timate |        | recast |
+---------------+--------+--------+--------+--------+--------+--------+
|               | USDA   | Post   | USDA   | Post   | USDA   | Post   |
|               | Of     | Es     | Of     | Es     | Of     | Es     |
|               | ficial | timate | ficial | timate | ficial | timate |
|               | \      | \      | \      | \      | \      | \      |
|               | [Old\] | [New\] | [Old\] | [New\] | [Old\] | [New\] |
+---------------+--------+--------+--------+--------+--------+--------+
| **Market Year |        | 1      |        | 1      |        | 1      |
| Begin**       |        | 0/2002 |        | 0/2003 |        | 0/2004 |
+---------------+--------+--------+--------+--------+--------+--------+
| Crush         | 790    | 851    | 800    | 810    | 0      | 860    |
+---------------+--------+--------+--------+--------+--------+--------+
| Extr. Rate,   | 0.5    | 0.5    | 0      | 0.5    | #      | 0.5    |
| 999.9999      | 443037 | 405405 | .54375 | 432098 | DIV/0! | 406976 |
+---------------+--------+--------+--------+--------+--------+--------+
| Beginning     | 0      | 0      | 0      | 0      | 0      | 0      |
| Stocks        |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Production    | 430    | 460    | 435    | 440    | 0      | 465    |
+---------------+--------+--------+--------+--------+--------+--------+
| MY Imports    | 0      | 0      | 0      | 0      | 0      | 0      |
+---------------+--------+--------+--------+--------+--------+--------+
| MY Imp. from  | 0      | 0      | 0      | 0      | 0      | 0      |
| U.S.          |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| MY Imp. from  | 0      | 0      | 0      | 0      | 0      | 0      |
| the EC        |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL SUPPLY  | 430    | 460    | 435    | 440    | 0      | 465    |
+---------------+--------+--------+--------+--------+--------+--------+
| MY Exports    | 0      | 0      | 0      | 0      | 0      | 0      |
+---------------+--------+--------+--------+--------+--------+--------+
| MY Exp. to    | 0      | 0      | 0      | 0      | 0      | 0      |
| the EC        |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Industrial    | 80     | 80     | 80     | 80     | 0      | 80     |
| Dom. Consum   |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Food Use Dom. | 0      | 0      | 0      | 0      | 0      | 0      |
| Consump.      |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Feed Waste    | 350    | 380    | 355    | 360    | 0      | 385    |
| Dom. Consum   |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL Dom.    | 430    | 460    | 435    | 440    | 0      | 465    |
| Consumption   |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Ending Stocks | 0      | 0      | 0      | 0      | 0      | 0      |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL         | 430    | 460    | 435    | 440    | 0      | 465    |
| DISTRIBUTION  |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Calendar Year | 0      | 0      | 0      | 0      | 0      | 0      |
| Imports       |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Calendar Yr   | 0      | 0      | 0      | 0      | 0      | 0      |
| Imp. U.S.     |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Calendar Year | 0      | 0      | 0      | 0      | 0      | 0      |
| Exports       |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Calndr Yr     | 0      | 0      | 0      | 0      | 0      | 0      |
| Exp. to U.S.  |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+

### Table 12. Fishmeal

+-----------------+-------+-------+-------+-------+-------+-------+
| ##              |       |       |       |       |       |       |
| #### PSD Table  |       |       |       |       |       |       |
| {#psd-table-11} |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| **Country**     | **C   |       |       |       |       |       |
|                 | hina, |       |       |       |       |       |
|                 | Pe    |       |       |       |       |       |
|                 | oples |       |       |       |       |       |
|                 | Rep   |       |       |       |       |       |
|                 | ublic |       |       |       |       |       |
|                 | of**  |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| **Commodity**   | **    |       |       |       | (1000 |       |
|                 | Meal, |       |       |       | MT)   |       |
|                 | F     |       |       |       | (PER  |       |
|                 | ish** |       |       |       | CENT) |       |
+-----------------+-------+-------+-------+-------+-------+-------+
|                 | 2002  | Re    | 2003  | Est   | 2004  | For   |
|                 |       | vised |       | imate |       | ecast |
+-----------------+-------+-------+-------+-------+-------+-------+
|                 | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                 | Off   | Est   | Off   | Est   | Off   | Est   |
|                 | icial | imate | icial | imate | icial | imate |
|                 | \[    | \[    | \[    | \[    | \[    | \[    |
|                 | Old\] | New\] | Old\] | New\] | Old\] | New\] |
+-----------------+-------+-------+-------+-------+-------+-------+
| **Market Year   |       | 01    |       | 01    |       | 01    |
| Begin**         |       | /2003 |       | /2004 |       | /2005 |
+-----------------+-------+-------+-------+-------+-------+-------+
| Catch For       | 0     | 0     | 0     | 0     | 0     | 0     |
| Reduction       |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Extr. Rate,     | #D    | #D    | #D    | #D    | #D    | #D    |
| 999.9999        | IV/0! | IV/0! | IV/0! | IV/0! | IV/0! | IV/0! |
+-----------------+-------+-------+-------+-------+-------+-------+
| Beginning       | 0     | 0     | 0     | 0     | 0     | 0     |
| Stocks          |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Production      | 550   | 400   | 550   | 400   | 0     | 380   |
+-----------------+-------+-------+-------+-------+-------+-------+
| MY Imports      | 803   | 803   | 850   | 820   | 0     | 800   |
+-----------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from    | 60    | 73    | 0     | 75    | 0     | 75    |
| U.S.            |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from    | 0     | 0     | 0     | 0     | 0     | 0     |
| the EC          |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| TOTAL SUPPLY    | 1353  | 1203  | 1400  | 1220  | 0     | 1180  |
+-----------------+-------+-------+-------+-------+-------+-------+
| MY Exports      | 3     | 4     | 3     | 3     | 0     | 2     |
+-----------------+-------+-------+-------+-------+-------+-------+
| MY Exp. to the  | 0     | 0     | 0     | 0     | 0     | 0     |
| EC              |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Industrial Dom. | 0     | 0     | 0     | 0     | 0     | 0     |
| Consum          |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Food Use Dom.   | 0     | 0     | 0     | 0     | 0     | 0     |
| Consump.        |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Feed Waste Dom. | 1350  | 1199  | 1397  | 1217  | 0     | 1178  |
| Consum          |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.      | 1350  | 1199  | 1397  | 1217  | 0     | 1178  |
| Consumption     |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks   | 0     | 0     | 0     | 0     | 0     | 0     |
+-----------------+-------+-------+-------+-------+-------+-------+
| TOTAL           | 1353  | 1203  | 1400  | 1220  | 0     | 1180  |
| DISTRIBUTION    |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Calendar Year   | 0     | 803   | 0     | 820   | 0     | 800   |
| Imports         |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Calendar Yr     | 0     | 73    | 0     | 75    | 0     | 75    |
| Imp. U.S.       |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Calendar Year   | 0     | 4     | 0     | 3     | 0     | 2     |
| Exports         |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Calndr Yr Exp.  | 0     | 0     | 0     | 0     | 0     | 0     |
| to U.S.         |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+

## Oil PSD Tables

### Table 13. Soybean Oil

  ---------------- ----------- -- ----------- -- ----------- -- ----------- ----------- ---------- -- ----------
  **PSD Table**                                                                                       

  **Country**      **China,                                                                           
                   Peoples                                                                            
                   Republic                                                                           
                   of**                                                                               

  **Commodity**    **Oil,                                                   (1000 MT)                 
                   Soybean**                                                (PERCENT)                 

                   2002           Revised        2003           Estimate                2004          Forecast

                   USDA           Post           USDA           Post                    USDA          Post
                   Official       Estimate       Official       Estimate                Official      Estimate
                   \[Old\]        \[New\]        \[Old\]        \[New\]                 \[Old\]       \[New\]

  **Market Year                   10/2002                       10/2003                               10/2004
  Begin**                                                                                             

  Crush            26990          26500          30250          28500                   0             31600

  Extr. Rate,      0.1752500      0.1754716      0.1752066      0.1750877               #DIV/0!       0.175
  999.9999                                                                                            

  Beginning Stocks 210            210            250            250                     220           200

  Production       4730           4650           5300           4990                    0             5530

  MY Imports       1716           1716           1810           2000                    0             2000

  MY Imp. from     95             95             40             50                      0             75
  U.S.                                                                                                

  MY Imp. from the 0              0              0              0                       0             0
  EC                                                                                                  

  TOTAL SUPPLY     6656           6576           7360           7240                    220           7730

  MY Exports       13             13             80             20                      0             20

  MY Exp. to the   0              0              0              0                       0             0
  EC                                                                                                  

  Industrial Dom.  0              0              0              0                       0             0
  Consum                                                                                              

  Food Use Dom.    6393           6313           7060           7020                    0             7580
  Consump.                                                                                            

  Feed Waste Dom.  0              0              0              0                       0             0
  Consum                                                                                              

  TOTAL Dom.       6393           6313           7060           7020                    0             7580
  Consumption                                                                                         

  Ending Stocks    250            250            220            200                     0             130

  TOTAL            6656           6576           7360           7240                    0             7730
  DISTRIBUTION                                                                                        

  Calendar Year    500            870            1200           1885                    0             2000
  Imports                                                                                             

  Calendar Yr Imp. 100            20             400            95                      0             100
  U.S.                                                                                                

  Calendar Year    50             47             50             11                      0             30
  Exports                                                                                             

  Calndr Yr Exp.   0              0              0              0                       0             0
  to U.S.                                                                                             
  ---------------- ----------- -- ----------- -- ----------- -- ----------- ----------- ---------- -- ----------

### Table 14. Rapeseed Oil

+-----------------+--------+--------+--------+-------+------+--------+
| ##              |        |        |        |       |      |        |
| #### PSD Table  |        |        |        |       |      |        |
| {#psd-table-12} |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| **Country**     | **     |        |        |       |      |        |
|                 | China, |        |        |       |      |        |
|                 | P      |        |        |       |      |        |
|                 | eoples |        |        |       |      |        |
|                 | Re     |        |        |       |      |        |
|                 | public |        |        |       |      |        |
|                 | of**   |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| **Commodity**   | **Oil, |        |        |       | (    |        |
|                 | Rape   |        |        |       | 1000 |        |
|                 | seed** |        |        |       | MT)  |        |
|                 |        |        |        |       | (    |        |
|                 |        |        |        |       | PERC |        |
|                 |        |        |        |       | ENT) |        |
+-----------------+--------+--------+--------+-------+------+--------+
|                 | 2002   | R      | 2003   | Est   | 2004 | Fo     |
|                 |        | evised |        | imate |      | recast |
+-----------------+--------+--------+--------+-------+------+--------+
|                 | USDA   | Post   | USDA   | Post  | USDA | Post   |
|                 | Of     | Es     | Of     | Est   | Offi | Es     |
|                 | ficial | timate | ficial | imate | cial | timate |
|                 | \      | \      | \      | \[    | \[O  | \      |
|                 | [Old\] | [New\] | [Old\] | New\] | ld\] | [New\] |
+-----------------+--------+--------+--------+-------+------+--------+
| **Market Year   |        | 1      |        | 10    |      | 1      |
| Begin**         |        | 0/2002 |        | /2003 |      | 0/2004 |
+-----------------+--------+--------+--------+-------+------+--------+
| Crush           | 10016  | 10016  | 11600  | 11400 | 0    | 11950  |
+-----------------+--------+--------+--------+-------+------+--------+
| Extr. Rate,     | 0.3    | 0.3    | 0.3    | 0.35  | #DI  | 0.3    |
| 999.9999        | 532348 | 532348 | 469827 |       | V/0! | 506276 |
+-----------------+--------+--------+--------+-------+------+--------+
| Beginning       | 0      | 0      | 0      | 0     | 0    | 0      |
| Stocks          |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| Production      | 3538   | 3538   | 4025   | 3990  | 0    | 4190   |
+-----------------+--------+--------+--------+-------+------+--------+
| MY Imports      | 115    | 115    | 135    | 150   | 0    | 200    |
+-----------------+--------+--------+--------+-------+------+--------+
| MY Imp. from    | 0      | 0      | 0      | 0     | 0    | 0      |
| U.S.            |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| MY Imp. from    | 45     | 37     | 0      | 40    | 0    | 40     |
| the EC          |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| TOTAL SUPPLY    | 3653   | 3653   | 4160   | 4140  | 0    | 4390   |
+-----------------+--------+--------+--------+-------+------+--------+
| MY Exports      | 7      | 28     | 0      | 25    | 0    | 30     |
+-----------------+--------+--------+--------+-------+------+--------+
| MY Exp. to the  | 0      | 0      | 0      | 0     | 0    | 0      |
| EC              |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| Industrial Dom. | 0      | 0      | 0      | 0     | 0    | 0      |
| Consum          |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| Food Use Dom.   | 3646   | 3625   | 4160   | 4115  | 0    | 4360   |
| Consump.        |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| Feed Waste Dom. | 0      | 0      | 0      | 0     | 0    | 0      |
| Consum          |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| TOTAL Dom.      | 3646   | 3625   | 4160   | 4115  | 0    | 4360   |
| Consumption     |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| Ending Stocks   | 0      | 0      | 0      | 0     | 0    | 0      |
+-----------------+--------+--------+--------+-------+------+--------+
| TOTAL           | 3653   | 3653   | 4160   | 4140  | 0    | 4390   |
| DISTRIBUTION    |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| Calendar Year   | 0      | 78     | 0      | 152   | 0    | 160    |
| Imports         |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| Calendar Yr     | 0      | 1      | 0      | 0     | 0    | 0      |
| Imp. U.S.       |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| Calendar Year   | 0      | 18     | 0      | 25    | 0    | 30     |
| Exports         |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+
| Calndr Yr Exp.  | 0      | 0      | 0      | 0     | 0    | 0      |
| to U.S.         |        |        |        |       |      |        |
+-----------------+--------+--------+--------+-------+------+--------+

### Table 15. Peanut Oil

+---------------+--------+--------+---------+--------+------+--------+
| ######        |        |        |         |        |      |        |
|  PSD Table {# |        |        |         |        |      |        |
| psd-table-13} |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| **Country**   | **     |        |         |        |      |        |
|               | China, |        |         |        |      |        |
|               | P      |        |         |        |      |        |
|               | eoples |        |         |        |      |        |
|               | Re     |        |         |        |      |        |
|               | public |        |         |        |      |        |
|               | of**   |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| **Commodity** | **Oil, |        |         |        | (    |        |
|               | Pe     |        |         |        | 1000 |        |
|               | anut** |        |         |        | MT)  |        |
|               |        |        |         |        | (    |        |
|               |        |        |         |        | PERC |        |
|               |        |        |         |        | ENT) |        |
+---------------+--------+--------+---------+--------+------+--------+
|               | 2002   | R      | 2003    | Es     | 2004 | Fo     |
|               |        | evised |         | timate |      | recast |
+---------------+--------+--------+---------+--------+------+--------+
|               | USDA   | Post   | USDA    | Post   | USDA | Post   |
|               | Of     | Es     | O       | Es     | Offi | Es     |
|               | ficial | timate | fficial | timate | cial | timate |
|               | \      | \      | \[Old\] | \      | \[O  | \      |
|               | [Old\] | [New\] |         | [New\] | ld\] | [New\] |
+---------------+--------+--------+---------+--------+------+--------+
| **Market Year |        | 1      |         | 1      |      | 1      |
| Begin**       |        | 0/2002 |         | 0/2003 |      | 0/2004 |
+---------------+--------+--------+---------+--------+------+--------+
| Crush         | 7150   | 7150   | 7250    | 7600   | 0    | 7700   |
+---------------+--------+--------+---------+--------+------+--------+
| Extr. Rate,   | 0.3    | 0.3    | 0.      | 0.3    | #DI  | 0.3    |
| 999.9999      | 146853 | 146853 | 3158620 | 157894 | V/0! | 149350 |
+---------------+--------+--------+---------+--------+------+--------+
| Beginning     | 0      | 0      | 0       | 0      | 0    | 0      |
| Stocks        |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| Production    | 2250   | 2250   | 2290    | 2400   | 0    | 2425   |
+---------------+--------+--------+---------+--------+------+--------+
| MY Imports    | 2      | 2      | 5       | 10     | 0    | 10     |
+---------------+--------+--------+---------+--------+------+--------+
| MY Imp. from  | 0      | 0      | 0       | 0      | 0    | 0      |
| U.S.          |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| MY Imp. from  | 0      | 0      | 0       | 0      | 0    | 0      |
| the EC        |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| TOTAL SUPPLY  | 2252   | 2252   | 2295    | 2410   | 0    | 2435   |
+---------------+--------+--------+---------+--------+------+--------+
| MY Exports    | 13     | 13     | 15      | 25     | 0    | 20     |
+---------------+--------+--------+---------+--------+------+--------+
| MY Exp. to    | 0      | 0      | 0       | 15     | 0    | 0      |
| the EC        |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| Industrial    | 0      | 0      | 0       | 0      | 0    | 0      |
| Dom. Consum   |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| Food Use Dom. | 2239   | 2239   | 2280    | 2385   | 0    | 2415   |
| Consump.      |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| Feed Waste    | 0      | 0      | 0       | 0      | 0    | 0      |
| Dom. Consum   |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| TOTAL Dom.    | 2239   | 2239   | 2280    | 2385   | 0    | 2415   |
| Consumption   |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| Ending Stocks | 0      | 0      | 0       | 0      | 0    | 0      |
+---------------+--------+--------+---------+--------+------+--------+
| TOTAL         | 2252   | 2252   | 2295    | 2410   | 0    | 2435   |
| DISTRIBUTION  |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| Calendar Year | 0      | 4      | 0       | 7      | 0    | 10     |
| Imports       |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| Calendar Yr   | 0      | 0      | 0       | 0      | 0    | 0      |
| Imp. U.S.     |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| Calendar Year | 0      | 11     | 0       | 25     | 0    | 20     |
| Exports       |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+
| Calndr Yr     | 0      | 0      | 0       | 0      | 0    | 0      |
| Exp. to U.S.  |        |        |         |        |      |        |
+---------------+--------+--------+---------+--------+------+--------+

### Table 16. Palm Oil

+-----------------+-------+-------+-------+-------+-------+-------+
| ##              |       |       |       |       |       |       |
| #### PSD Table  |       |       |       |       |       |       |
| {#psd-table-14} |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| **Country**     | **C   |       |       |       |       |       |
|                 | hina, |       |       |       |       |       |
|                 | Pe    |       |       |       |       |       |
|                 | oples |       |       |       |       |       |
|                 | Rep   |       |       |       |       |       |
|                 | ublic |       |       |       |       |       |
|                 | of**  |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| **Commodity**   | *     |       |       |       | (1000 |       |
|                 | *Oil, |       |       |       | MT)   |       |
|                 | P     |       |       |       |       |       |
|                 | alm** |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
|                 | 2002  | Re    | 2003  | Est   | 2004  | For   |
|                 |       | vised |       | imate |       | ecast |
+-----------------+-------+-------+-------+-------+-------+-------+
|                 | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                 | Off   | Est   | Off   | Est   | Off   | Est   |
|                 | icial | imate | icial | imate | icial | imate |
|                 | \[    | \[    | \[    | \[    | \[    | \[    |
|                 | Old\] | New\] | Old\] | New\] | Old\] | New\] |
+-----------------+-------+-------+-------+-------+-------+-------+
| **Market Year   |       | 10    |       | 10    |       | 10    |
| Begin**         |       | /2002 |       | /2003 |       | /2004 |
+-----------------+-------+-------+-------+-------+-------+-------+
| Area Planted    | 0     | 0     | 0     | 0     | 0     | 0     |
+-----------------+-------+-------+-------+-------+-------+-------+
| Area Harvested  | 0     | 0     | 0     | 0     | 0     | 0     |
+-----------------+-------+-------+-------+-------+-------+-------+
| Trees           | 0     | 0     | 0     | 0     | 0     | 0     |
+-----------------+-------+-------+-------+-------+-------+-------+
| Beginning       | 0     | 0     | 0     | 0     | 0     | 0     |
| Stocks          |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Production      | 0     | 0     | 0     | 0     | 0     | 0     |
+-----------------+-------+-------+-------+-------+-------+-------+
| MY Imports      | 3105  | 3105  | 3300  | 3500  | 0     | 3600  |
+-----------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from    | 0     | 0     | 0     | 0     | 0     | 0     |
| U.S.            |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from    | 0     | 0     | 0     | 0     | 0     | 0     |
| the EC          |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| TOTAL SUPPLY    | 3105  | 3105  | 3300  | 3500  | 0     | 3600  |
+-----------------+-------+-------+-------+-------+-------+-------+
| MY Exports      | 0     | 10    | 0     | 0     | 0     | 0     |
+-----------------+-------+-------+-------+-------+-------+-------+
| MY Exp. to the  | 0     | 0     | 0     | 0     | 0     | 0     |
| EC              |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Industrial Dom. | 0     | 0     | 0     | 0     | 0     | 0     |
| Consum          |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Food Use Dom.   | 3105  | 3095  | 3300  | 3500  | 0     | 3600  |
| Consump.        |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Feed Waste      | 0     | 0     | 0     | 0     | 0     | 0     |
| Consumption     |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.      | 3105  | 3095  | 3300  | 3500  | 0     | 3600  |
| Consumption     |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks   | 0     | 0     | 0     | 0     | 0     | 0     |
+-----------------+-------+-------+-------+-------+-------+-------+
| TOTAL           | 3105  | 3105  | 3300  | 3500  | 0     | 3600  |
| DISTRIBUTION    |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Calendar Year   | 0     | 2221  | 0     | 3326  | 0     | 3500  |
| Imports         |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Calendar Yr     | 0     | 0     | 0     | 0     | 0     | 0     |
| Imp. U.S.       |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Calendar Year   | 0     | 10    | 0     | 0     | 0     | 0     |
| Exports         |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+
| Calndr Yr Exp.  | 0     | 0     | 0     | 0     | 0     | 0     |
| to U.S.         |       |       |       |       |       |       |
+-----------------+-------+-------+-------+-------+-------+-------+

### Table 17. Sunflower Seed Oil

+---------------+--------+--------+-------+---------+------+--------+
| ######        |        |        |       |         |      |        |
|  PSD Table {# |        |        |       |         |      |        |
| psd-table-15} |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| **Country**   | **     |        |       |         |      |        |
|               | China, |        |       |         |      |        |
|               | P      |        |       |         |      |        |
|               | eoples |        |       |         |      |        |
|               | Re     |        |       |         |      |        |
|               | public |        |       |         |      |        |
|               | of**   |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| **Commodity** | **Oil, |        |       |         | (    |        |
|               | Sun    |        |       |         | 1000 |        |
|               | flower |        |       |         | MT)  |        |
|               | seed** |        |       |         | (    |        |
|               |        |        |       |         | PERC |        |
|               |        |        |       |         | ENT) |        |
+---------------+--------+--------+-------+---------+------+--------+
|               | 2002   | R      | 2003  | E       | 2004 | Fo     |
|               |        | evised |       | stimate |      | recast |
+---------------+--------+--------+-------+---------+------+--------+
|               | USDA   | Post   | USDA  | Post    | USDA | Post   |
|               | Of     | Es     | Off   | E       | Offi | Es     |
|               | ficial | timate | icial | stimate | cial | timate |
|               | \      | \      | \[    | \[New\] | \[O  | \      |
|               | [Old\] | [New\] | Old\] |         | ld\] | [New\] |
+---------------+--------+--------+-------+---------+------+--------+
| **Market Year |        | 1      |       | 10/2003 |      | 1      |
| Begin**       |        | 0/2002 |       |         |      | 0/2004 |
+---------------+--------+--------+-------+---------+------+--------+
| Crush         | 790    | 851    | 800   | 810     | 0    | 860    |
+---------------+--------+--------+-------+---------+------+--------+
| Extr. Rate,   | 0.2    | 0.2    | 0.    | 0.      | #DI  | 0.2    |
| 999.9999      | 341772 | 291421 | 23125 | 2308641 | V/0! | 325581 |
+---------------+--------+--------+-------+---------+------+--------+
| Beginning     | 0      | 0      | 0     | 0       | 0    | 0      |
| Stocks        |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| Production    | 185    | 195    | 185   | 187     | 0    | 200    |
+---------------+--------+--------+-------+---------+------+--------+
| MY Imports    | 0      | 9      | 0     | 35      | 0    | 10     |
+---------------+--------+--------+-------+---------+------+--------+
| MY Imp. from  | 0      | 0      | 0     | 0       | 0    | 0      |
| U.S.          |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| MY Imp. from  | 0      | 0      | 0     | 0       | 0    | 0      |
| the EC        |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| TOTAL SUPPLY  | 185    | 204    | 185   | 222     | 0    | 210    |
+---------------+--------+--------+-------+---------+------+--------+
| MY Exports    | 0      | 1      | 0     | 1       | 0    | 0      |
+---------------+--------+--------+-------+---------+------+--------+
| MY Exp. to    | 0      | 0      | 0     | 0       | 0    | 0      |
| the EC        |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| Industrial    | 0      | 0      | 0     | 0       | 0    | 0      |
| Dom. Consum   |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| Food Use Dom. | 185    | 203    | 185   | 221     | 0    | 210    |
| Consump.      |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| Feed Waste    | 0      | 0      | 0     | 0       | 0    | 0      |
| Dom. Consum   |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| TOTAL Dom.    | 185    | 203    | 185   | 221     | 0    | 210    |
| Consumption   |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| Ending Stocks | 0      | 0      | 0     | 0       | 0    | 0      |
+---------------+--------+--------+-------+---------+------+--------+
| TOTAL         | 185    | 204    | 185   | 222     | 0    | 210    |
| DISTRIBUTION  |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| Calendar Year | 0      | 0      | 0     | 36      | 0    | 10     |
| Imports       |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| Calendar Yr   | 0      | 0      | 0     | 0       | 0    | 0      |
| Imp. U.S.     |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| Calendar Year | 0      | 1      | 0     | 0       | 0    | 0      |
| Exports       |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+
| Calndr Yr     | 0      | 0      | 0     | 0       | 0    | 0      |
| Exp. to U.S.  |        |        |       |         |      |        |
+---------------+--------+--------+-------+---------+------+--------+

### Table 18. Coconut Oil (Copra) 

+-------------------+-------+-------+---+-------+-------+---+---+-------+
| ###### PSD Tabl   |       |       |   |       |       |   |   |       |
| e {#psd-table-16} |       |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| **Country**       | **C   |       |   |       |       |   |   |       |
|                   | hina, |       |   |       |       |   |   |       |
|                   | Pe    |       |   |       |       |   |   |       |
|                   | oples |       |   |       |       |   |   |       |
|                   | Rep   |       |   |       |       |   |   |       |
|                   | ublic |       |   |       |       |   |   |       |
|                   | of**  |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| **Commodity**     | *     |       |   |       |       |   | ( |       |
|                   | *Oil, |       |   |       |       |   | 1 |       |
|                   | Coco  |       |   |       |       |   | 0 |       |
|                   | nut** |       |   |       |       |   | 0 |       |
|                   |       |       |   |       |       |   | 0 |       |
|                   |       |       |   |       |       |   | M |       |
|                   |       |       |   |       |       |   | T |       |
|                   |       |       |   |       |       |   | ) |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
|                   | 2002  | Re    |   | 2003  | Est   | 2 |   | For   |
|                   |       | vised |   |       | imate | 0 |   | ecast |
|                   |       |       |   |       |       | 0 |   |       |
|                   |       |       |   |       |       | 4 |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
|                   | USDA  | Post  |   | USDA  | Post  | U |   | Post  |
|                   | Off   | Est   |   | Off   | Est   | S |   | Est   |
|                   | icial | imate |   | icial | imate | D |   | imate |
|                   | \[    | \[    |   | \[    | \[    | A |   | \[    |
|                   | Old\] | New\] |   | Old\] | New\] | O |   | New\] |
|                   |       |       |   |       |       | f |   |       |
|                   |       |       |   |       |       | f |   |       |
|                   |       |       |   |       |       | i |   |       |
|                   |       |       |   |       |       | c |   |       |
|                   |       |       |   |       |       | i |   |       |
|                   |       |       |   |       |       | a |   |       |
|                   |       |       |   |       |       | l |   |       |
|                   |       |       |   |       |       | \ |   |       |
|                   |       |       |   |       |       | [ |   |       |
|                   |       |       |   |       |       | O |   |       |
|                   |       |       |   |       |       | l |   |       |
|                   |       |       |   |       |       | d |   |       |
|                   |       |       |   |       |       | \ |   |       |
|                   |       |       |   |       |       | ] |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| **Market Year     |       | 10    |   |       | 10    |   |   | 10    |
| Begin**           |       | /2002 |   |       | /2003 |   |   | /2004 |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Crush             | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Extr. Rate,       | #D    | #D    |   | #D    | #D    | # |   | #D    |
| 999.9999          | IV/0! | IV/0! |   | IV/0! | IV/0! | D |   | IV/0! |
|                   |       |       |   |       |       | I |   |       |
|                   |       |       |   |       |       | V |   |       |
|                   |       |       |   |       |       | / |   |       |
|                   |       |       |   |       |       | 0 |   |       |
|                   |       |       |   |       |       | ! |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Beginning Stocks  | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Production        | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| MY Imports        | 133   | 133   |   | 150   | 150   | 0 |   | 160   |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| MY Imp. from U.S. | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| MY Imp. from the  | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
| EC                |       |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| TOTAL SUPPLY      | 133   | 133   |   | 150   | 150   | 0 |   | 160   |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| MY Exports        | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| MY Exp. to the EC | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Industrial Dom.   | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
| Consum            |       |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Food Use Dom.     | 133   | 133   |   | 150   | 150   | 0 |   | 160   |
| Consump.          |       |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Feed Waste Dom.   | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
| Consum            |       |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| TOTAL Dom.        | 133   | 133   |   | 150   | 150   | 0 |   | 160   |
| Consumption       |       |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Ending Stocks     | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| TOTAL             | 133   | 133   |   | 150   | 150   | 0 |   | 160   |
| DISTRIBUTION      |       |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Calendar Year     | 0     | 119   |   | 0     | 150   | 0 |   | 160   |
| Imports           |       |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Calendar Yr Imp.  | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
| U.S.              |       |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Calendar Year     | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
| Exports           |       |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+
| Calndr Yr Exp. to | 0     | 0     |   | 0     | 0     | 0 |   | 0     |
| U.S.              |       |       |   |       |       |   |   |       |
+-------------------+-------+-------+---+-------+-------+---+---+-------+

## Soybean & Rapeseed Wholesale Price Tables

### Table 19. Wholesale Soybean Prices CY2003

<table style="width:100%;">
<colgroup>
<col style="width: 11%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="13"><p id="unit-rmb-yuanmt-8.26rmbus1.00"
class="heading">Unit: RMB Yuan/MT; 8.26RMB=US$1.00</p></td>
</tr>
<tr class="even">
<td><strong>Provinces</strong></td>
<td><strong>Jan</strong></td>
<td><strong>Feb</strong></td>
<td><strong>Mar</strong></td>
<td><strong>Apr</strong></td>
<td><strong>May</strong></td>
<td><strong>Jun</strong></td>
<td><strong>Jul</strong></td>
<td><strong>Aug</strong></td>
<td><strong>Sept</strong></td>
<td><strong>Oct</strong></td>
<td><strong>Nov</strong></td>
<td><strong>Dec</strong></td>
</tr>
<tr class="odd">
<td>Tianjin</td>
<td>2,550</td>
<td>2,520</td>
<td>2,600</td>
<td>2,700</td>
<td>2,700</td>
<td>2,640</td>
<td>2,640</td>
<td>2,620</td>
<td>2,700</td>
<td>3,100</td>
<td>3,300</td>
<td>3,300</td>
</tr>
<tr class="even">
<td>Hebei</td>
<td>2,550</td>
<td>2,520</td>
<td>2,600</td>
<td>2,700</td>
<td>2,700</td>
<td>2,680</td>
<td>2,680</td>
<td>2,620</td>
<td>2,720</td>
<td>3,100</td>
<td>3,300</td>
<td>3,300</td>
</tr>
<tr class="odd">
<td>Jilin</td>
<td>2,450</td>
<td>2,400</td>
<td>2,500</td>
<td>2,700</td>
<td>2,600</td>
<td>2,700</td>
<td>2,700</td>
<td>2,600</td>
<td>2,740</td>
<td>3,000</td>
<td>2,900</td>
<td>2,900</td>
</tr>
<tr class="even">
<td>Heilongjiang</td>
<td>2,400</td>
<td>2,360</td>
<td>2,450</td>
<td>2,600</td>
<td>2,560</td>
<td>2,660</td>
<td>2,600</td>
<td>2,500</td>
<td>2,400</td>
<td>2,900</td>
<td>2,900</td>
<td>2,900</td>
</tr>
<tr class="odd">
<td>Shanghai</td>
<td>2,700</td>
<td>2,550</td>
<td>2,600</td>
<td>2,700</td>
<td>2,700</td>
<td>2,660</td>
<td>2,680</td>
<td>2,620</td>
<td>2,700</td>
<td>3,500</td>
<td>3,300</td>
<td>3,300</td>
</tr>
<tr class="even">
<td>Jiangsu</td>
<td>2,700</td>
<td>2,550</td>
<td>2,600</td>
<td>2,700</td>
<td>2,700</td>
<td>2,660</td>
<td>2,680</td>
<td>2,620</td>
<td>2,700</td>
<td>3,500</td>
<td>3,300</td>
<td>3,300</td>
</tr>
<tr class="odd">
<td>Jiangxi</td>
<td>2,750</td>
<td>2,600</td>
<td>2,700</td>
<td>2,800</td>
<td>2,800</td>
<td>2,800</td>
<td>2,780</td>
<td>2,700</td>
<td>2,800</td>
<td>3,600</td>
<td>3,500</td>
<td>3,500</td>
</tr>
<tr class="even">
<td>Shandong</td>
<td>2,560</td>
<td>2,500</td>
<td>2,600</td>
<td>2,700</td>
<td>2,700</td>
<td>2,680</td>
<td>2,680</td>
<td>2,620</td>
<td>2,700</td>
<td>3,150</td>
<td>3,300</td>
<td>3,300</td>
</tr>
<tr class="odd">
<td>Henan</td>
<td>2,580</td>
<td>2,520</td>
<td>2,620</td>
<td>2,750</td>
<td>2,750</td>
<td>2,680</td>
<td>2,680</td>
<td>2,640</td>
<td>2,740</td>
<td>3,200</td>
<td>3,350</td>
<td>3,300</td>
</tr>
<tr class="even">
<td>Guangdong</td>
<td>2,700</td>
<td>2,580</td>
<td>2,600</td>
<td>2,700</td>
<td>2,700</td>
<td>2,660</td>
<td>2,680</td>
<td>2,620</td>
<td>2,720</td>
<td>3,500</td>
<td>3,400</td>
<td>3,400</td>
</tr>
<tr class="odd">
<td><strong>Average</strong></td>
<td><strong>2,594</strong></td>
<td><strong>2,510</strong></td>
<td><strong>2,587</strong></td>
<td><strong>2,705</strong></td>
<td><strong>2,691</strong></td>
<td><strong>2,682</strong></td>
<td><strong>2,680</strong></td>
<td><strong>2,616</strong></td>
<td><strong>2,692</strong></td>
<td><strong>3,255</strong></td>
<td><strong>3,255</strong></td>
<td><strong>3,250</strong></td>
</tr>
<tr class="even">
<td colspan="13"><strong>Jan-Dec Change = +25%</strong></td>
</tr>
</tbody>
</table>

Source: China National Grains & Oils Information Center, Beijing

### Table 20. Wholesale Soybean Meal Prices in CY2003

  ---------------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
  **Unit: RMB                                                                                                                                          
  Yuan/MT; 8.26                                                                                                                                        
  RMB=US\$1.00**                                                                                                                                       

  **Provinces**    **Jan**     **Feb**     **Mar**     **Apr**     **May**     **Jun**     **Jul**     **Aug**     **Sept**    **Oct**     **Nov**     **Dec**

  Beijing          2,000       2,050       2,000       2,200       2,140       2,140       2,140       2,190       2,380       2,900       2,540       2,700

  Jilin            1,940       2,000       1,980       2,100       2,060       2,120       2,080       2,140       2,300       2,850       2,550       2,500

  Heilongjiang     1,860       1,900       1,960       2,100       2,100       2,100       2,080       2,150       2,200       2,800       2,520       2,480

  Shanghai         2,000       2,040       2,000       2,150       2,160       2,200       2,150       2,240       2,500       3,000       2,560       2,800

  Jiangsu          1,950       2,020       1,980       2,150       2,160       2,180       2,150       2,230       2,500       3,000       2,520       2,800

  Fujian           2,100       2,040       1,980       2,300       2,160       2,180       2,150       2,220       2,400       3,100       2,580       2,680

  Jiangxi          2,000       2,040       2,020       2,250       2,200       2,200       2,180       2,260       2,500       3,000       2,560       2,820

  Shandong         1,950       1,980       1,980       2,150       2,160       2,160       2,140       2,180       2,320       2,950       2,600       2,720

  Henan            2,000       2,020       2,000       2,200       2,140       2,180       2,150       2,240       2,400       2,950       2,650       2,750

  Guangdong        2,100       2,020       2,000       2,300       2,140       2,200       2,100       2,220       2,520       3,100       2,580       2,780

  Guangxi          2,150       2,080       2,000       2,200       2,160       2,200       2,150       2,280       2,540       3,150       2,580       2,800

  **Average**      **2,005**   **2,017**   **1,991**   **2,191**   **2,144**   **2,169**   **2,134**   **2,214**   **2,415**   **2,982**   **2,567**   **2,712**

  **Jan-Dec Change                                                                                                                                     
  = +35%**                                                                                                                                             
  ---------------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------

Source: China National Grains & Oils Information Center, Beijing

### Table 21. Wholesale Soybean Oil Prices in CY2003

  -------------------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
  **Unit: RMB Yuan/MT;                                                                                                                                     
  8.26RMB=US\$1.00**                                                                                                                                       

  **Provinces**        **Jan**     **Feb**     **Mar**     **Apr**     **May**     **Jun**     **Jul**     **Aug**     **Sept**    **Oct**     **Nov**     **Dec**

  Tianjin              5,850       5,850       5,850       5,900       5,850       5,800       5,750       5,760       5,900       7,200       6,800       7,200

  Hebei                5,850       5,850       5,850       5,900       5,850       5,800       5,730       5,760       5,900       7,200       6,800       7,200

  Jilin                6,000       6,050       6,000       6,000       5,950       5,950       5,900       5,800       6,000       7,200       6,750       7,200

  Heilongjiang         5,950       6,000       6,000       6,000       6,000       5,900       5,850       5,840       5,900       6,800       6,800       7,150

  Shanghai             5,700       5,900       5,850       5,900       5,850       5,800       5,750       5,750       6,000       7,300       6,750       7,000

  Jiangsu              5,700       5,850       5,850       5,900       5,850       5,750       5,740       5,750       5,950       7,250       6,700       6,900

  Jiangxi              5,750       5,900       5,900       5,950       5,900       5,900       5,850       5,800       6,000       7,300       6,700       7,000

  Shandong             5,850       5,850       5,850       5,900       5,800       5,800       5,740       5,800       5,950       7,150       7,000       7,150

  Henan                5,800       5,850       5,850       5,900       5,800       5,800       5,740       5,800       6,000       7,250       6,900       7,200

  Guangdong            5,600       5,650       5,650       5,700       5,650       5,600       5,600       5,550       5,950       7,300       6,700       6,900

  **Average**          **5,805**   **5,875**   **5,865**   **5,900**   **5,850**   **5,810**   **5,765**   **5,760**   **5,955**   **7,195**   **6,790**   **7,090**

  **Jan-Dec Change =                                                                                                                                       
  +22%**                                                                                                                                                   
  -------------------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------

Source: China National Grains & Oils Information Center, Beijing

### 

### Table 22. Wholesale Rapeseed Oil Prices in CY2003

  --------------- --------- --------- --------- --------- --------- --------- --------- --------- ---------- --------- --------- ---------
  **Unit: RMB                                                                                                                    
  Yuan/MT; 8.26                                                                                                                  
  RMB =US\$                                                                                                                      
  1.00**                                                                                                                         

  **Provinces**   **Jan**   **Feb**   **Mar**   **Apr**   **May**   **Jun**   **Jul**   **Aug**   **Sept**   **Oct**   **Nov**   **Dec**

  Jiangsu         5,900     6,050     6,000     5,900     6,000     6,200     5,900     5,880     6,050      7,200     6,700     6,900

  Zhejiang        5,950     6,100     6,050     5,900     6,000     6,300     5,950     5,880     6,100      7,300     6,700     7,000

  Anhui           5,900     6,050     6,000     5,850     5,950     6,100     5,900     5,850     6,050      7,100     6,650     6,900

  Jiangxi         5,950     6,150     6,050     5,900     5,950     6,300     5,950     5,900     6,000      7,100     6,700     7,000

  Hubei           6,000     6,150     6,100     5,900     5,950     6,300     5,950     5,900     6,000      7,000     6,600     6,880

  Hunan           6,000     6,150     6,100     5,900     5,950     6,300     5,950     5,900     6,000      7,000     6,700     6,950

  Sichuan         6,000     6,150     6,100     5,850     6,000     6,300     5,950     6,100     6,250      6,900     6,900     7,050

  **Average**     5,957     6,114     6,057     5,886     5,971     6,257     5,936     5,916     6,064      7,086     6,707     6,954

  **Jan-Dec                                                                                                                      
  Change = +                                                                                                                     
  17%**                                                                                                                          
  --------------- --------- --------- --------- --------- --------- --------- --------- --------- ---------- --------- --------- ---------

Source: China National Grains & Oils Information Center, Beijing

### Table 23. A Comparison of Wholesale Prices for Soy and Rapeseed Oil in CY2003

  ---------------- ---------- ---------- ---------- ----------- ---------- ---------- ---------- ---------- ---------- ----------- ----------- -----------
  **Oils**         **Jan**    **Feb**    **Mar**    **Apr**     **May**    **Jun**    **Jul**    **Aug**    **Sept**   **Oct**     **Nov**     **Dec**

  Rapeseed         5,957      6,114      6,057      5,886       5,971      6,257      5,936      5,916      6,064      7,086       6,707       6,954

  Soy              5,805      5,875      5,865      5,905       5,850      5,810      5,765      5,761      5,955      7,195       6,790       7,090

  **Difference**   **2.6%**   **4.1%**   **3.3%**   **-0.3%**   **2.1%**   **7.7%**   **3.0%**   **2.7%**   **1.8%**   **-1.5%**   **-1.2%**   **-1.9%**
  ---------------- ---------- ---------- ---------- ----------- ---------- ---------- ---------- ---------- ---------- ----------- ----------- -----------

Source: FAS/Beijing based on data from China National Grains & Oils
Information Center, Beijing

##  

## Tariff Rate Quota Tables

### Table 25. Soybean Oil

+--------+-----------------------+------------------------------------+
| **HS   | **Quotas and          | **Other terms and conditions**     |
| Code** | Tariffs**             |                                    |
+--------+-----------------------+------------------------------------+
|        | Initial Quota:        | 1\) STE share = 42% to 10% (See    |
|        | 2,118,000 MT          | Notes 1 and 2)                     |
|        |                       |                                    |
|        | Final Quota:          | 2\) Staging of TRQ for soybean     |
|        | 3,587,100 MT          | oil:                               |
|        |                       |                                    |
|        |                       | Year: TRQ quantity:                |
|        |                       |                                    |
|        |                       | 2002 2,518,000 mt                  |
|        |                       |                                    |
|        |                       | 2003 2,818,000 mt                  |
|        |                       |                                    |
|        |                       | 2004 3,118,000 mt                  |
|        |                       |                                    |
|        |                       | 2005 3,587,100 mt                  |
|        |                       |                                    |
|        |                       | Staging of STE share:              |
|        |                       |                                    |
|        |                       | Year: Share:                       |
|        |                       |                                    |
|        |                       | 2002 34%                           |
|        |                       |                                    |
|        |                       | 2003 26%                           |
|        |                       |                                    |
|        |                       | 2004 18%                           |
|        |                       |                                    |
|        |                       | 2005 10%                           |
|        |                       |                                    |
|        |                       | Tariff rate quotas to be           |
|        |                       | eliminated on 1 January 2006.      |
+--------+-----------------------+------------------------------------+
| 15     | Tariff: 9%            |                                    |
| 071000 |                       |                                    |
+--------+-----------------------+------------------------------------+
| 15     | Tariff: 9%            |                                    |
| 079000 |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+

### Table 26. Rapeseed Oil

+--------+-----------------------+------------------------------------+
|        | Initial Quota:        | 1\) STE share = 42% to 10% (See    |
|        | 739,200 MT            | Notes 1 and 2)                     |
|        |                       |                                    |
|        | Final Quota:          | 2\) Staging of TRQ for rape‑seed   |
|        | 1,243,000 MT          | oil                                |
|        |                       |                                    |
|        |                       | Year: TRQ quantity:                |
|        |                       |                                    |
|        |                       | 2002 878,900 mt                    |
|        |                       |                                    |
|        |                       | 2003 1,018,600 mt                  |
|        |                       |                                    |
|        |                       | 2004 1,126,600 mt                  |
|        |                       |                                    |
|        |                       | 2005 1,243,000 mt                  |
|        |                       |                                    |
|        |                       | Staging of STE share:              |
|        |                       |                                    |
|        |                       | Year: Share:                       |
|        |                       |                                    |
|        |                       | 2002 34%                           |
|        |                       |                                    |
|        |                       | 2003 26%                           |
|        |                       |                                    |
|        |                       | 2004 18%                           |
|        |                       |                                    |
|        |                       | 2005 10%                           |
|        |                       |                                    |
|        |                       | Tariff rate quotas to be           |
|        |                       | eliminated on 1 January 2006.      |
+--------+-----------------------+------------------------------------+
| 15     | Tariff: 9%            |                                    |
| 141010 |                       |                                    |
+--------+-----------------------+------------------------------------+
| 15     | Tariff: 9%            |                                    |
| 141090 |                       |                                    |
+--------+-----------------------+------------------------------------+
| 15     | Tariff: 9%            |                                    |
| 149000 |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+

### Table 27. Palm Oil

+--------+-----------------------+------------------------------------+
|        | Initial Quota:        | 1\) STE share = 42% to 10% (See    |
|        | 2,100,000 MT          | Notes 1 and 2)                     |
|        |                       |                                    |
|        | Final Quota:          | 2\) Staging of TRQ for palm oil    |
|        | 3,168,000 MT          |                                    |
|        |                       | Year: TRQ quantity:                |
|        |                       |                                    |
|        |                       | 2002 2,400,000 mt                  |
|        |                       |                                    |
|        |                       | 2003 2,600,000 mt                  |
|        |                       |                                    |
|        |                       | 2004 2,700.000 mt                  |
|        |                       |                                    |
|        |                       | 2005 3,168,000 mt                  |
|        |                       |                                    |
|        |                       | Staging of STE share:              |
|        |                       |                                    |
|        |                       | Year: Share:                       |
|        |                       |                                    |
|        |                       | 2002 34%                           |
|        |                       |                                    |
|        |                       | 2003 26%                           |
|        |                       |                                    |
|        |                       | 2004 18%                           |
|        |                       |                                    |
|        |                       | 2005 10%                           |
|        |                       |                                    |
|        |                       | Tariff quotas to be eliminated on  |
|        |                       | 1 January 2006.                    |
|        |                       |                                    |
|        |                       | 3\) China agrees to provide        |
|        |                       | adequate opportunities in          |
|        |                       | increasing the established import  |
|        |                       | quota levels of TRQs for palm oil  |
|        |                       | in case of an excessive demand for |
|        |                       | palm oil within China that is over |
|        |                       | and above that of the present TRQs |
|        |                       | as evidenced by the complete       |
|        |                       | utilization of TRQs for palm oil   |
|        |                       | in the previous year.              |
|        |                       |                                    |
|        |                       | 4\) Any adjustments to tariffs,    |
|        |                       | import quota levels of TRQs,       |
|        |                       | import rights (when respect to     |
|        |                       | state trading enterprises) and     |
|        |                       | implementation period resulting    |
|        |                       | from the conclusion of future      |
|        |                       | bilateral negotiations with other  |
|        |                       | oils and fats exporting countries. |
+--------+-----------------------+------------------------------------+
| 15     | Tariff: 9%            |                                    |
| 111000 |                       |                                    |
+--------+-----------------------+------------------------------------+
| 15     | Tariff: 9%            |                                    |
| 119000 |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+
|        |                       |                                    |
+--------+-----------------------+------------------------------------+

## Taxes and Duties Tables (Jan 1 -- Dec 31, 2004)

### Table 28. Oilseeds

+----------+-------------------------------+------+----------+-------+
| HS Code  | Description                   | In   | Out-     |       |
|          |                               | Q    | of-Quota |       |
|          |                               | uota |          |       |
+----------+-------------------------------+------+----------+-------+
|          |                               | Duty | M.F.N.   | V     |
|          |                               |      |          | .A.T. |
|          |                               | (%)  | (%)      |       |
|          |                               |      |          | (%)   |
+----------+-------------------------------+------+----------+-------+
| 12010010 | Soybeans, seed                |      |          | 13    |
+----------+-------------------------------+------+----------+-------+
| 12010091 | Yellow soybean                |      | 3        | 13    |
+----------+-------------------------------+------+----------+-------+
| 12010092 | Black soybean                 |      | 3        | 13    |
+----------+-------------------------------+------+----------+-------+
| 12010093 | Green soybean                 |      | 3        | 13    |
+----------+-------------------------------+------+----------+-------+
| 12010099 | Other soybean                 |      | 3        | 13    |
+----------+-------------------------------+------+----------+-------+
| 12021010 | In shell peanut, seed         |      |          | 13    |
+----------+-------------------------------+------+----------+-------+
| 12021090 | In shell peanut, other        |      | 15       | 13    |
+----------+-------------------------------+------+----------+-------+
| 12022000 | Shelled peanut                |      | 15       | 13    |
+----------+-------------------------------+------+----------+-------+
| 20081110 | Peanut kernels, in airtight   |      | 30       | 17    |
|          | containers                    |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 20081120 | Roasted peanuts               |      | 30       | 17    |
+----------+-------------------------------+------+----------+-------+
| 20081130 | Peanut butter                 |      | 30       | 17    |
+----------+-------------------------------+------+----------+-------+
| 20081190 | Other processed peanuts       |      | 30       | 17    |
+----------+-------------------------------+------+----------+-------+
| 12051010 | Low erucic acid rape seed,    |      |          | 13    |
|          | seed                          |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 12051090 | Low erucic acid rape seed,    |      | 9        | 13    |
|          | other                         |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 12059010 | Other rapeseed, seed          |      |          | 13    |
+----------+-------------------------------+------+----------+-------+
| 12059090 | Other rapeseed, other         |      | 9        | 13    |
+----------+-------------------------------+------+----------+-------+
| 12060010 | Sunflower seeds, seed         |      |          | 13    |
+----------+-------------------------------+------+----------+-------+
| 12060090 | Sunflower seeds, other        |      | 15       | 13    |
+----------+-------------------------------+------+----------+-------+
| 12072010 | Cottonseeds for cultivation   |      |          | 13    |
+----------+-------------------------------+------+----------+-------+
| 12072090 | Cottonseeds, other            |      | 15       | 13    |
+----------+-------------------------------+------+----------+-------+
| 12074010 | Sesame seeds for cultivation  |      |          | 13    |
+----------+-------------------------------+------+----------+-------+
| 12074090 | Sesame seeds, other           |      | 10       | 13    |
+----------+-------------------------------+------+----------+-------+

### Table 29. Oils

+----------+-------------------------------+------+----------+-------+
| HS Code  | Description                   | In   | Out-     |       |
|          |                               | Q    | of-Quota |       |
|          |                               | uota |          |       |
+----------+-------------------------------+------+----------+-------+
|          |                               | Duty | M.F.N.   | V     |
|          |                               |      |          | .A.T. |
|          |                               | (%)  | (%)      |       |
|          |                               |      |          | (%)   |
+----------+-------------------------------+------+----------+-------+
| 15071000 | Crude soybean oil             | 9    | 30.7     | 13    |
+----------+-------------------------------+------+----------+-------+
| 15079000 | Other soybean oil             | 9    | 30.7     | 13    |
+----------+-------------------------------+------+----------+-------+
| 15081000 | Crude peanut oil              |      | 10       | 13    |
+----------+-------------------------------+------+----------+-------+
| 15089000 | Other peanut oil              |      | 10       | 13    |
+----------+-------------------------------+------+----------+-------+
| 15091000 | Olive Oil, virgin             |      | 10       | 13    |
+----------+-------------------------------+------+----------+-------+
| 15099000 | Olive oil, other              |      | 10       | 17    |
+----------+-------------------------------+------+----------+-------+
| 15111000 | Palm oil, crude               | 9    | 30.7     | 13    |
+----------+-------------------------------+------+----------+-------+
| 15119010 | Palm oil, liquid              | 9    | 30.7     | 13    |
+----------+-------------------------------+------+----------+-------+
| 15119020 | Stearin                       |      | 8        | 13    |
+----------+-------------------------------+------+----------+-------+
| 15119090 | Palm oil, other               | 9    | 30.7     | 17    |
+----------+-------------------------------+------+----------+-------+
| 15       | Crude sunflower seed oil      |      | 9.3      | 13    |
| 121100.1 |                               |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15       | Crude safflower seed oil      |      | 9.3      | 13    |
| 121100.9 |                               |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15       | Other sunflower seed oil      |      | 9.3      | 17    |
| 121900.1 |                               |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15       | Other safflower seed oil      |      | 9.3      | 17    |
| 121900.9 |                               |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15122100 | Crude cottonseed oil          |      | 10       | 13    |
+----------+-------------------------------+------+----------+-------+
| 15122900 | Other cottonseed oil          |      | 10       | 17    |
+----------+-------------------------------+------+----------+-------+
| 15131100 | Crude coconut oil             |      | 10       | 13    |
+----------+-------------------------------+------+----------+-------+
| 15131900 | Other coconut oil             |      | 10       | 13    |
+----------+-------------------------------+------+----------+-------+
| 15132100 | Crude palm kernel oil         |      | 10       | 13    |
+----------+-------------------------------+------+----------+-------+
| 15132900 | Other palm kernel oil         |      | 10       | 17    |
+----------+-------------------------------+------+----------+-------+
| 15141110 | Crude low erucic acid rape    | 9    | 30.7     | 13    |
|          | oil                           |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15141190 | Crude low erucic acid mustard | 9    | 30.7     | 13    |
|          | oil                           |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15141900 | Other crude low erucic acid   | 9    | 30.7     | 13    |
|          | rape oil                      |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15149110 | Crude rape oil                | 9    | 30.7     | 13    |
+----------+-------------------------------+------+----------+-------+
| 15149190 | Crude mustard oil             | 9    | 30.7     | 13    |
+----------+-------------------------------+------+----------+-------+
| 15149900 | Other rape oil                | 9    | 30.7     | 17    |
+----------+-------------------------------+------+----------+-------+

### Table 30. Oilseed Meals

+----------+-------------------------------+------+----------+-------+
| HS Code  | Description                   | In   | Out-     |       |
|          |                               | Q    | of-Quota |       |
|          |                               | uota |          |       |
+----------+-------------------------------+------+----------+-------+
|          |                               | Duty | M.F.N.   | V     |
|          |                               |      |          | .A.T. |
|          |                               | (%)  | (%)      |       |
|          |                               |      |          | (%)   |
+----------+-------------------------------+------+----------+-------+
| 12081000 | Soyflour                      |      | 9        | 17    |
+----------+-------------------------------+------+----------+-------+
| 23012010 | Fishmeal                      |      | 2        | 13    |
+----------+-------------------------------+------+----------+-------+
| 23025000 | Legume sweepings              |      | 5        | 13    |
+----------+-------------------------------+------+----------+-------+
| 23040010 | Soy meal, oil cake            |      | 5        | 13    |
+----------+-------------------------------+------+----------+-------+
| 23040090 | Soy meal, other               |      | 5        | 13    |
+----------+-------------------------------+------+----------+-------+
| 23050000 | Peanut meal                   |      | 5        | 13    |
+----------+-------------------------------+------+----------+-------+
| 23061000 | Cottonseed meal               |      | 5        | 13    |
+----------+-------------------------------+------+----------+-------+
| 23063000 | Sunflower seed meal           |      | 5        | 13    |
+----------+-------------------------------+------+----------+-------+
| 23064100 | Low erucic acid rapeseed meal |      | 5        | 13    |
+----------+-------------------------------+------+----------+-------+
| 23064900 | Other rapeseed meal           |      | 5        | 13    |
+----------+-------------------------------+------+----------+-------+