Required Report - public distribution

**Date:** 3/1/2005

**GAIN Report Number:** CH5017

CH4007

**China, Peoples Republic of**

**Oilseeds and Products**

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

**2005**

**Approved by:**

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

U.S. Embassy, Beijing

**Prepared by:**

Jim Butterworth & Wu Xinping

**Report Highlights:**

Post forecasts MY05/06 soybean imports at 22.5 MMT and its preliminary
estimate for MY04/05 imports is 21 MMT. A bumper harvest in MY04/05 of
most domestically grown oilseeds will dampen import growth. Post
forecast China's MY05/06 soybean production at 17.5 MMT. The current
year's bumper harvests notwithstanding, there are favorable factors that
will fuel import growth: 1) soybean prices have fallen from
US\$10/bushel to US\$5-6/bushel; 2) freight rates fell to US\$60-70/MT
from over US\$80/MT; and, 3) the impact of avian influenza has subsided
so soybean meal demand has returned to normal.

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 6](#policy)

[Marketing 7](#marketing)

[Stocks 7](#stocks)

[Rapeseed 7](#rapeseed)

[Peanuts 7](#peanuts)

[Sunflower Seeds 7](#sunflower-seeds)

[Oil Meal Situation and Outlook 8](#oil-meal-situation-and-outlook)

[Soybean Meal 8](#soybean-meal)

[Production & Consumption 8](#production-consumption)

[Trade 9](#trade-1)

[Fishmeal 9](#fishmeal)

[Cottonseed Meal 10](#cottonseed-meal)

[Oil Situation and Outlook 10](#oil-situation-and-outlook)

[Total Oils 10](#total-oils)

[Soybean Oil 11](#soybean-oil)

[Rapeseed Oil 12](#rapeseed-oil)

[Palm & Other Oils 12](#palm-other-oils)

[Statistical Tables 14](#statistical-tables)

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

[Table 1. Total Oilseeds 14](#table-1.-total-oilseeds)

[Table 2. Total Meals 15](#table-2.-total-meals)

[Table 3. Total Oils 16](#table-3.-total-oils)

[Oilseeds PSD Tables 17](#oilseeds-psd-tables)

[Table 4. Soybeans 17](#table-4.-soybeans)

[Table 5. Rapeseed 18](#table-5.-rapeseed)

[Table 6. Peanuts 19](#table-6.-peanuts)

[Table 7. Sunflower Seed 20](#table-7.-sunflower-seed)

[Table 8. Cotton Seeds 21](#table-8.-cotton-seeds)

[Meals PSD Tables 22](#meals-psd-tables)

[Table 9. Soybean Meal 22](#table-9.-soybean-meal)

[Table 10. Rapeseed Meal 23](#table-10.-rapeseed-meal)

[Table 11. Peanut Meal 24](#table-11.-peanut-meal)

[Table 12. Sunflower Seed Meal 25](#table-12.-sunflower-seed-meal)

[Table 13. Cotton Seed Meal 26](#table-13.-cotton-seed-meal)

[Table 14. Fish Meal 27](#table-14.-fish-meal)

[Oils Tables 28](#oils-tables)

[Table 15. Soybean Oil 28](#table-15.-soybean-oil)

[Table 16. Rapeseed Oil 29](#table-16.-rapeseed-oil)

[Table 17. Peanut Oil 30](#table-17.-peanut-oil)

[Table 18. Palm Oil 31](#table-18.-palm-oil)

[Table 19. Sunflower Seed Oil 32](#table-19.-sunflower-seed-oil)

[Table 20. Cottonseed Oil 33](#table-20.-cottonseed-oil)

[Table 21. Coconut Oil (Copra) 34](#table-21.-coconut-oil-copra)

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

[Table 22. Wholesale Soybean Prices CY2004
35](#table-22.-wholesale-soybean-prices-cy2004)

[Table 23. Wholesale Soybean Meal Prices in CY2004
35](#table-23.-wholesale-soybean-meal-prices-in-cy2004)

[Table 24. Wholesale Soybean Oil Prices in CY2004
36](#table-24.-wholesale-soybean-oil-prices-in-cy2004)

[Table 25. Wholesale Rapeseed Oil Prices in CY2004
36](#table-25.-wholesale-rapeseed-oil-prices-in-cy2004)

[Table 26. A Comparison of Wholesale Prices for Soy & Rapeseed Oil in
CY2004
36](#table-26.-a-comparison-of-wholesale-prices-for-soy-rapeseed-oil-in-cy2004)

[Tariff Rate Quota Tables 37](#tariff-rate-quota-tables)

[Table 27. Soybean Oil 37](#table-27.-soybean-oil)

[Table 28. Rapeseed Oil 37](#table-28.-rapeseed-oil)

[Table 29. Palm Oil 38](#table-29.-palm-oil)

[Taxes and Duties Tables (Jan 1 -- Dec 31, 2005)
39](#taxes-and-duties-tables-jan-1-dec-31-2005)

[Table 30. Oilseeds 39](#table-30.-oilseeds)

[Table 31. Oils 40](#table-31.-oils)

[Table 32. Oilseed Meals 41](#table-32.-oilseed-meals)

# Executive Summary

Last years problems of high freight rates, high soybean prices, and
avian influenza have all subsided and China's oilseeds market is back on
track for modest growth in the year ahead. Post forecasts MY05/06
soybean imports at 22.5 MMT and the preliminary estimate for MY04/05 to
finish at 21 MMT. China's record production of all oilseeds in MY04/05,
including soybeans, rapeseed, cottonseed, and peanuts, will dampen
demand for imported oilseeds, especially for the small and medium-sized
crushers in the north and central regions of China. The large southern
crushers will continue to rely on imported soybeans.

With a 9.5 percent GDP increase in 2004, population growing by 7.7
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.

This report should be read together with CH5018, which contains detailed
trade tables.

For an economic overview of China, see the World Bank's, "China
Quarterly Update, February 2005," which is available on
<http://www.worldbank.org.cn/English/Content/cqu-en.pdf>

# Oilseeds Situation and Outlook

To comply with FAS' recently revised reporting instructions, this report
includes cottonseed, cottonseed meal, and cottonseed oil. These products
were not included in last year's Oilseed Annual Report (CH4010), but
they have been included in the current report's previous years'
Production, Supply, and Demand tables. Given China's large cotton crop
last year, this change significantly increases the totals for oilseeds,
meals, and oils. Thus, readers should not attempt to compare the total
quantities in Tables 1-3 of this current report with last year's report.

## Total Oilseeds

The MY05/06 total oilseed production forecast is 56.8 MMT from a planted
area of 29.9 million hectares. These figures are 3.9 percent and 1
percent lower respectively than in MY04/05. This forecast reduction is
attributable to large cotton, soybean, and rapeseed harvests due to
higher than average yields in MY04/05 that are not expected to repeat
next year. Soybeans account for 30.8 percent of the total production,
followed by peanuts (26.4 percent), rapeseed (21.1 percent), cottonseed
(18.5 percent), and sunflower seed (3.2 percent). These percentages are
consistent with recent years. Competition for land from other crops,
especially cotton and grains, and urbanization will continue to limit
any substantial increases in planted areas. China's continued "go slow"
approach on the commercialization of biotech products, together with
less than optimal agronomy practices, will limit yield increases.
China's caution on biotech, however, has shown some signs of easing,
especially with respect to biotech rice. Chinese scientists have been
among the worlds leading researchers on this product and China's
state-run media has published several articles over the past year in
which highlighted the benefits of biotech rice. At the same time,
however, China has positioned itself as a supplier of "GMO Free" food
grade soybeans for export to Japan. So, it remains to be seen whether
China's ongoing move toward supporting the planting of biotech rice in
China will ever apply to it's domestically grown soybeans.

Freight rates for Panamax vessels departing U.S. Gulf ports to China
have fallen to US\$60-65 per MT from last year's historic highs of over
US\$80/MT. Although these rates are less than last year, China's
seemingly insatiable appetite for raw materials, especially minerals, is
keeping freight rates higher than the long-term average.

Total crushing capacity is estimated to be 60 to 70 MMT. Most trade
sources estimate crush capacity to be 60 MMT. However, a survey
published by China's Ministry of Commerce in Jan 2005 estimated total
crushing capacity to be 70 MMT. For details on that survey, see GAIN
report CH5019. Consolidation of the crushing industry continues.
Inefficient small and medium-sized crushers are being force out of
business while large efficient crushers expand capacity.

Most crushers report they easily can switch between crushing soybeans
and rapeseed. Consolidation of the crushing industry continues.

## Soybeans

### Production

Soybean production for MY05/06 is forecast at 17.5 MMT, which is 0.5 MMT
less than the MY04/05 preliminary estimate of 18.0 MMT. This decrease is
attributable to a return to average yields from the higher than average
yields that occurred in MY04/05. The large drop in cotton prices that
followed last year's large cotton crop will lessen competition for land
from cotton in Shandong, Anhui, and Henan, where farmers can grow cotton
or soybeans. Competition from grains, which have favorable prices,
however, will limit any significant shift to planting soybeans. Also,
the GOC's agricultural policy makers continue to express concern about
the drop in grain production and are encouraging farmers to plant more
grain to alleviate the shortfall. Also, given the government's very
cautious approach to the application of biotechnology, less than optimal
agronomy practices, and small production units, no dramatic increases in
yields are expected in the foreseeable future.

### 

### Trade

Post's forecast for MY05/06 soybean imports is 22.5 MMT and the
preliminary estimate for MY04/05 is 21.0 MMT (Note: USDA's Feb 2005
official estimate of the latter is 22.5 MMT). In MY03/04, high soybean
prices, very high freight rates, and avian influenza (AI) deflated
import demand. Post's current forecasts reflect its recognition that the
heady import growth rates that occurred from MY99/00 to MY03/04 cannot
be extrapolated indefinitely into the future; the import growth curve
has begun to level off to a more sustainable, long-term growth rate.

The United States remains the number one soybean supplier. As the table
below shows, Brazil's market share dropped significantly Oct 03-Sept 04
because of China's discovery of prohibited fungicide-treated soybeans,
which resulted in a temporary import ban on Brazilian soybeans. However,
large Southern Hemisphere crops and the resulting low prices are likely
to result in making Brazil and Argentina competitive exporters in the
coming year.

  ------------ -------------- -------- ------------ -------- ------------ --------
               Oct 01 -- Sept          Oct 02 --             Oct 03 --    
               02                      Sept 03               Sept 04      

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

  United       4,461,029      42.95%   7,702,997    35.97%   8,287,039    49%
  States                                                                  

  Brazil       2,792,854      26.89%   7,492,534    34.99%   5,082,224    30%

  Argentina    3,117,724      30.02%   6,207,244    28.98%   3,550,339    21%

  Other        14,293         .14%     12,969       .06%     13,271       \-

  Total        \*10,385,901   100%     21,416,430   100%     16,932,873   100%
  ------------ -------------- -------- ------------ -------- ------------ --------

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

### Policy

As reported in the 2004 Oilseeds Annual (CH4010), on February 20, 2004,
China's Ministry of Agriculture's Office of Agricultural GMO issued
final approval of Roundup Ready® (RR) soybeans. Issuing the final
approval in February allowed traders to apply for and receive necessary
certificates in time to ensure no trade disruption. 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, articles continue to appear
in the Chinese press touting China as a producer of "GMO-Free" soybeans.
Although China is not a major exporter of soy-based food products, its
"GMO-free" policy for domestic soybeans would ensure that it could still
export such products to those European and Asian markets that restrict
the import of biotech-derived foods.

China's 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
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. In summer 2004,
China's quarantine officials found prohibited fungicide-treated soybeans
in several cargos of Brazilian soybeans and banned such imports for
several months. Although Brazilian officials admitted that the problem
existed, some traders alleged that the Chinese quarantine officials were
providing Chinese soybean buyers with a pretext to renege on contracts
they had signed when soybeans were US\$10.00 per bushel but had fallen
to US\$6.00 per bushel.

Also, on June 16, 2004 AQSIQ issued Announcement No. 73, *Items on
Handling the Review and Approval for Entry Animal and Plant Quarantine*
("Decree 73"). It was implemented on July 1, 2004. This created havoc in
the soybean market because, if implemented as written and depending upon
one's interpretation, it could severely hamper soybean imports.
High-level meetings between U.S. and Chinese government officials
resulted in assurances from the Chinese that Decree 73 would not
restrict soybean imports and, as of this writing, it has not. (See
CH4020 for more details.) Nevertheless, this is the latest example of
how China's unpredictable implementation of often-vague SPS measures
causes uncertainty and increases risk for soybean traders in China.

### 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. Crushers in the Northeast continue to
report problems finding rail cars to transport domestic soybeans to
their plants at harvest time. The perennial problem of rail officials
demanding an arbitrary "facilitation fee," i.e., a bribe, for rail cars
shows little sign of improvement. These problems notwithstanding a few
sizable crushers are emerging within a several hour drive of Beijing. A
well-known multi-national crusher, for example, has a 3,400 MT/day joint
venture operation in the port city of Qinghuangdao. A solely owned
Chinese crusher located on the outskirts of Beijing is equipped with
installed capacity of 8000 MT/day, and actual capacity of 6000 MT/day;
the largest crusher in Heilongjiang has total daily capacity of 7000 MT,
and yearly capacity of 2 MMT.

For general marketing information, contact the American Soybean
Association (ASA). 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

MY05/06 ending stocks are forecast to be 3.5 MMT, up from 3.3 in
MY04/05.

## Rapeseed

The MY05/06 rapeseed production forecast is 12.0 MMT, which is 4 percent
less than MY04/05. Post is forecasting this reduction because the higher
than average yields achieved in MY04/05 are not expected to be repeated
in MY05/06. Planted area is forecast at 8.3 MHa, up only 1 percent from
MY04/05.

MY 05/06 imports are forecast to be 800,000 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 MY05/06 peanut production forecast is 15 MMT, 2 percent less than
MY04/05. Total crush domestic consumption is forecast to reach 8 MMT
MY05/06. Exports are forecast to be 900,000 MT, which is consistent with
recent years. For additional details, see FAS/Beijing's, December 2003
"Peanut Sector Report," (CH3134). In Aug 2002, China published a draft
standard that established maximum levels of aflatoxin B1 in foods,
including peanuts. See CH3022 for details. Post knows of no problem
created by this regulation.

## Sunflower Seeds

Sunflower seeds remain a small component of China's oilseeds complex.
They are forecast to account for 3.2 percent of MY05/06 total oilseeds
production and 1.6 percent of crush domestic consumption. Approximately
50 percent of the total sunflower seed supply will be consumed as
snacks.

Exports of sunflower seed hit a record high of 75,801 in CY04, up by 8
percent over CY03, which was a record year. Germany, the Netherlands,
Indonesia, and "Other" countries were the major destinations.

# 

# 

# Oil Meal Situation and Outlook

## 

The MY05/06 total oilseeds crush is forecast at 59.2 MMT and oil meal
production is forecast at 39.8 MMT (including fishmeal). Soybean meal
continues to dominate the oil meal complex. It accounts for 58 percent
of total meal production followed by rapeseed meal (19 percent),
cottonseed meal (9.5 percent) and peanut meal (8 percent), with fishmeal
and sunflower seed meal accounting for the remaining 5.5 percent.

## Soybean Meal

### Production & Consumption

The MY05/06 soybean meal (SBM) production forecast is 23.2 MMT, up 7
percent from MY04/05's preliminary estimate of 21.7 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 - Although China's broiler production fell during the first half
of 2004 due to highly pathogenic avian influenza (HPAI) outbreaks in the
country, broiler production recovered in response to the government's
favorable policies to support poultry production. The production
recovery is also in response to recovered consumer demand and China's
success in re-opening cooked poultry exports to some countries. Unlike
cattle or swine, poultry farmers can expand more rapidly broiler
placements. As a result, China's total poultry meat production in 2004
ended up almost the same level of the previous year, and chicken meat
production ended up with only a 0.3 percent decrease. China's poultry
egg production in 2005 is forecast to increase 5 percent from 27 MMT to
over 28 MMT. (See CH5011 for additional details.)

Swine -- As reported in CH5010, China's pork production for 2005 is
forecast to increase 4.8 percent from 47.3 MMT in 2004 to 49.6 MMT. The
pig crop production is forecast at 651 million head. As people leave the
farm for jobs in the city, they will leave their backyard pigs to be
raised by commercial operators that will feed them rations high in
soybean meal.

Aquaculture - Aquaculture continues to be a bright spot in the soybean
meal picture. It consumes approximately 5 MMT of soybean meal per year,
which converts to approximately 6.3 MMT of raw soybeans (see table
below). The raising of fresh water fish is the most important consumer
of SBM. Although current production of cage-raised marine species is
small relative to pond-raised fresh water species, production is
expanding rapidly and the long-term growth potential for SBM is
significant. ASA/China continues to be actively involved in promoting
the use of soybean meal in aquatic feeds.

Estimate of SBM Use by Aquaculture (CY2004):

  ------------------------------------------------- ---------------------
  Factor                                            Quantity/%

  Fresh Water Cultured Fish                         18 MMT

  Cage-raised Marine Cultured Fish                  .5 MMT

  **Total Cultured Fish production**                **18.5 MMT**

  Less not fed commercial feeds                     6 MMT

  **Net Feed Consuming Cultured Fish**              **12.5 MMT**

  Average Feed Conversion Ratio                     2:1

  **Estimated Feed Consumption**                    **25 MMT**

  SBM Inclusion Rate                                .2

  **Estimated Soybean Meal Use**                    **5 MMT**

  Crush Rate                                        .79

  **Estimated Raw Soybean Use**                     **6.3 MMT**
  ------------------------------------------------- ---------------------

SBM inclusion rate in aqua feed varies from 20-50 percent. ASA's marine
fish trial diets currently include 35 percent SBM. The 20 percent
inclusion rate used in the calculation above is deemed conservative,
thus SBM use may be even more than shown above. (See CH4015 Fishery
Report for detailed Aquaculture Production).

### 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, but they have no intention of expanding their crush capacity solely
to serve the export market. Japan accounts for 88 percent of SBM exports
with South Korea and Malaysia as a distant second and third place
respectively. Exports are forecast to be 4 to 5 percent of total
production.

Imports: Imports of SBM continue to be insignificant because of an over
expanded crushing industry produces sufficient SBM to meet domestic
demands.

## Fishmeal

Fishmeal imports for CY06 are forecast at 1.1 MMT, up by 10 percent
compared to the estimated 1 MMT for CY05. Imports for CY05 are expected
to fall to 1 MMT from the 1.12 MMT imported in CY04. This is chiefly due
to sufficient protein meal supply domestically and reduced production in
major exporting countries.

Fishmeal imports for CY04 surged to 1.12 MMT, up by 40 percent over
CY03. Although domestic production for CY04 was down to 350,000 MT
because of a smaller catch, total supply in CY04 reached 1.47 MMT, the
highest level in recent four years. This was mainly driven by high
growth of feed production and sufficient global supplies. Despite high
fishmeal prices, domestic demand remained strong. Industry sources said
increased production of high quality feed for baby pigs attributed to
the growing demand. Currently prices are relatively high.

Other protein meals are used as substitutes, especially when global
fishmeal supplies are scarce and prices are high. However, demand from
China's rapidly expanding animal husbandry and aquaculture sectors,
together with shrinking domestic fishmeal production (350,000 MT per
year), are expected to maintain fishmeal imports at about one MMT per
year.

See FAS/Beijing's special "Fishmeal Sector Report", CH4038, for details.

Peru continues to dominate China's fishmeal imports with 65 percent of
the market share, and 14 percent for Chile, and 8 percent imported from
the US.

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. The standards are not supposed
to be mandatory. They only are for reference.

## 

## Cottonseed Meal

Cottonseed meal was not included in previous oilseeds annual. Production
for MY05/06 is forecast to decline to around 4.3 MMT, as compared to the
estimated record 4.8 MMT for MY04/05 as a result of a record cotton
production. This represented over 1 MMT growth over MY03/04 and was
expected to take part share of the increased meal use. Cottonseed meal
is widely used as a minor but still valuable protein source in feed
industry because of its relatively cheap price. As the world largest
cotton and textile producer, the GOC maintains a policy to encourage a
stable cotton area. This means, except for a big crop like in MY04/05,
cottonseed meal production and its share in the protein meal complex are
expected to be stable in normal years.

# Oil Situation and Outlook

## Total Oils

The MY05/06 forecast of total oil production is 13.7 MMT, which is
unchanged from Post's MY04/05 preliminary estimate. Soybean oil
continues to be the number one oil produced in China, accounting for 38
percent of total oil production, followed by rapeseed oil (31 percent),
peanut oil (18 percent), cottonseed oil (10 percent), and sunflower seed
oil (2 percent). Total oil imports are forecast to increase to 7.4 MMT
from 6.2 MMT the year earlier. The MY05/06 forecast of total oil supply
is 21.4 MMT compared to 20.3 MMT the year earlier. Demand for oil
remains strong. Although meal demand has recovered from the impact of
avian influenza so crushers are producing more domestic soybean oil, oil
buyers will still import soybean oil from Argentina and palm oil from
Malaysia. The MY05/06 total food use domestic consumption of oils is
forecast at 20.6 MMT, which is 5 percent more than MY04/05. This amounts
to 15.8 kg per person based on China's projected population in 2004.
This is 34 percent less than Taiwan's 2002 per capita consumption of
23.9 kg of vegetable oil (See FAS/Taiwan report, TW5001, Table 12-Oil
Imports and Production. Taiwan's population is 23.6 million.) 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 9.5 percent
increase in GDP in 2004, a growing middle class that has more disposable
income and eats more and more meals outside the home, the long-term
outlook for oil and oilseed imports remains very bright.

+------------+---------+-------+---------+-------+----------+-------+
| China\'s   |         |       |         |       |          |       |
| Total Oils |         |       |         |       |          |       |
| Import by  |         |       |         |       |          |       |
| Origins    |         |       |         |       |          |       |
| from       |         |       |         |       |          |       |
| MY01/02 to |         |       |         |       |          |       |
| MY03/04    |         |       |         |       |          |       |
+------------+---------+-------+---------+-------+----------+-------+
| *          | **MY    | **    | ##      | **    | **M      | **    |
| *Country** | 01/02** | Share | ######  | Share | Y03/04** | Share |
|            |         | %**   | MY02/03 | %**   |          | %**   |
+------------+---------+-------+---------+-------+----------+-------+
| Malaysia   | 1,      | 61%   | 2,      | 45%   | 2        | 36%   |
|            | 571,351 |       | 298,010 |       | ,476,142 |       |
+------------+---------+-------+---------+-------+----------+-------+
| Argentina  | 215,124 | 8%    | 1,      | 22%   | 1        | 26%   |
|            |         |       | 139,968 |       | ,826,618 |       |
+------------+---------+-------+---------+-------+----------+-------+
| Indonesia  | 423,966 | 16%   | 787,651 | 16%   | 1        | 15%   |
|            |         |       |         |       | ,076,105 |       |
+------------+---------+-------+---------+-------+----------+-------+
| Brazil     | 123,123 | 5%    | 480,618 | 9%    | 901,633  | 13%   |
+------------+---------+-------+---------+-------+----------+-------+
| Canada     | 22,829  | 1%    | 22,964  | 0%    | 341,674  | 5%    |
+------------+---------+-------+---------+-------+----------+-------+
| United     | 20,548  | 1%    | 95,006  | 2%    | 3        | 0%    |
| States     |         |       |         |       |          |       |
+------------+---------+-------+---------+-------+----------+-------+
| Other      | 202,059 | 8%    | 255,783 | 5%    | 352,825  | 5%    |
+------------+---------+-------+---------+-------+----------+-------+
| Total      | 2,      | 100%  | 5,      | 100%  | 6        | 100%  |
|            | 579,000 |       | 080,000 |       | ,975,000 |       |
+------------+---------+-------+---------+-------+----------+-------+

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 2004 TRQ fill rates were as follows:

  ---------------- --------------------- -------------------- ------------
  **Product**      **CY04 TRQ**          **CY04 Imports**     **% Fill**

  Soybean Oil      3\. 118 MMT           2.515 MMT            81%

  Rapeseed Oil     1.126 MMT             352,993 MT           31%

  Palm Oil         2.700 MMT             2.388 MMT            88%
  ---------------- --------------------- -------------------- ------------

See Tables 27, 28, & 29 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        CH4070     G/SPS/N/CHN/51 --
  Vegetable Oil                                         2/13/04

  Edible         GB17402-xxxx   Draft        CH3099     N/A
  Hydrogenated                                          
  Oil                                                   

  Peanut Oil     GB1534-2003    Final        CH4025     G/TBT/N/CHN/24 --
                                                        7/28/03

  Soybean Oil    GB1535-2003    Final        CH4022     G/TBT/N/CHN/25 --
                                                        7/28/03

  Rapeseed Oil   GB1536-2004    Final        CH5003     G/SPS/N/CHN/43 -
                                                        12/23/04
  -------------- -------------- ------------ ---------- ------------------------

## 

## Soybean Oil

The MY05/06 soybean oil production forecast is 5.2 MMT, up 6.1 percent
from last year's preliminary estimate. MY05/06 imports are forecast at
2.7 MMT, which is up by 700,000 MT as compared to the estimated 2 MMT
for MY04/05. The relatively low imports for MY04/05 are attributed to
high domestic production. MY03/04 imports were 2.73 MMT, which increased
by 59 percent over MY02/03 imports. This occurred along with a declined
soybean imports because of reduced SBM consumption as a result of
outbreak of avian influenza and surged price for SBM. High imports of
soybean oil indicate the strong demand for soybean oil as the table
below shows. Argentina was the number one supplier with 67 percent of
total imports, followed by Brazil with 33 percent and other suppliers,
including the United States, with less than 1 percent. Brazil's market
share has been increasing at the expense of the United States' share.

  ------------- ---------- -------- ----------- -------- ----------- --------
  **Country**   **Oct 01            **Oct 02 -           **Oct 03 -  
                -- Sept             Sept 03**            Sept 04**   
                02**                                                 

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

  Argentina     215,137    58.23%   1,139,968   66.43%   1,826,618   67%

  Brazil        123,122    33.32%   480,618     28.01%   901,663     33%

  United States 20,548     5.56%    95,006      5.54%    3           \- %

  Other         10,671     2.89%    485         0.03%    375         \- %

  Total         369,478    100%     1,716,076   100%     2,728,659   100%
  ------------- ---------- -------- ----------- -------- ----------- --------

Soybean oil prices decreased 17 percent between Jan-Dec 2004. See Table
24 for details.

## 

## Rapeseed Oil

Rapeseed oil production is forecast to decrease to 4.3 MMT in MY05/06
from 4.4 MMT in MY04/05. Imports are forecast to increase to 350,000 MT
from 250,000 MT in MY04/05. Exports are minimal and not expected to
change in MY05/06. The price of rapeseed oil decreased 13 percent
Jan-Dec 2004 and the price of soybean oil dropped a similar amount. The
average price of rapeseed oil during the same period, however, was only
1.1 percent higher than the soybean oil price. Consumers' choice between
rapeseed and soybean oil is based on price more than any taste
preference. See Tables 24, 25, and 26 for details.

## Palm & Other Oils

Palm oil imports are forecast to increase to 4.2 MMT in MY05/06 from 3.8
MMT in MY04/05. Malaysia dominated China's MY03/04 palm oil imports. It
provided 69 percent of total imports. Indonesia was a distant second
with 30 percent and the remaining 1 percent came from miscellaneous
countries. See Trade Table 42 of CH5018 for details.

Demand for palm oil is very strong primarily because it remains 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 1.9 to 2.1 MMT in 2004. Another factor
contributing to the strong demand continues to be 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. China's past
attempts to produce palm oil have failed because the climate and soil
conditions are not correct for growing oil palm trees. Furthermore,
China's close proximity to Malaysia and other major palm oil producers
ensures adequate supplies and gives palm oil the advantage of cheaper
shipping costs relative to other oils, especially soybean oil from
Argentina and Brazil. 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 CY05 TRQ will increase to 3.168 MMT. The share reserved for state
owned enterprises will decrease to 10 percent from 18 percent that
prevailed in CY04.

Sunflower oil is becoming increasing popular among heath conscious,
high-income urban consumers. 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 major suppliers are
Indonesia, the Philippines, and Malaysia. CY04 imports fell 25 percent
compared to CY03.

# Statistical Tables

Note: For purposes of calculating per capita consumption, according the
China's National Statistics Bureau, as of Dec 31, 2003, China's official
population, not including Taiwan or Hong Kong, was 1,292,270,000. This
represents a net increase of 7,740,000 people compared to a year
earlier. On Jan 7, 2005, China announced the birth of its 1.3 billionth
citizen. See
<http://www.chinadaily.com.cn/english/doc/2005-01/07/content_406617.htm>
for details.

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

### Table 1. Total Oilseeds

+--------------------+--------+------+------+-------+------+----------+
| **PSD Table**      |        |      |      |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| **Country**        | **     |      |      |       |      |          |
|                    | China, |      |      |       |      |          |
|                    | P      |      |      |       |      |          |
|                    | eoples |      |      |       |      |          |
|                    | Re     |      |      |       |      |          |
|                    | public |      |      |       |      |          |
|                    | of**   |      |      |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| **Commodity**      | *      |      |      |       |      |          |
|                    | *Total |      |      |       |      |          |
|                    | Oils   |      |      |       |      |          |
|                    | eeds** |      |      |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
|                    | 2003   | Rev  | 2004 | Est   | 2005 | Forecast |
|                    |        | ised |      | imate |      |          |
+--------------------+--------+------+------+-------+------+----------+
|                    | USDA   | Post | USDA | Post  | USDA | Post     |
|                    | Of     | Esti | Offi | Est   | Offi | Estimate |
|                    | ficial | mate | cial | imate | cial | \[New\]  |
|                    | \      | \[N  | \[O  | \[    | \[O  |          |
|                    | [Old\] | ew\] | ld\] | New\] | ld\] |          |
+--------------------+--------+------+------+-------+------+----------+
| **Market Year      |        | 10/  |      | 10    |      | 10/2005  |
| Begin**            |        | 2003 |      | /2004 |      |          |
+--------------------+--------+------+------+-------+------+----------+
| Area Planted       | 21300  | 2    | 1    | 30160 | 0    | 29850    |
|                    |        | 8868 | 6450 |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| Area Harvested     | 27860  | 2    | 2    | 29730 | 0    | 29550    |
|                    |        | 7875 | 9800 |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| Beginning Stocks   | 4467   | 4650 | 2100 | 1939  | 3700 | 3250     |
+--------------------+--------+------+------+-------+------+----------+
| Production         | 50723  | 5    | 5    | 59040 | 0    | 56800    |
|                    |        | 0843 | 8515 |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| MY Imports         | 17356  | 1    | 2    | 21805 | 0    | 23307    |
|                    |        | 7354 | 3455 |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| MY Imp. from U.S.  | 8292   | 8288 | 5    | 10501 | 0    | 10002    |
+--------------------+--------+------+------+-------+------+----------+
| MY Imp. from the   | 58     | 58   | 0    | 0     | 0    | 0        |
| EC                 |        |      |      |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| #                  | **7    | *    | *    | **82  | **37 | *        |
| ##### TOTAL SUPPLY | 2546** | *728 | *840 | 784** | 00** | *83357** |
|                    |        | 47** | 70** |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| MY Exports         | 1217   | 1257 | 1345 | 1532  | 0    | 1390     |
+--------------------+--------+------+------+-------+------+----------+
| MY Exp. to the EC  | 223    | 239  | 230  | 253   | 0    | 290      |
+--------------------+--------+------+------+-------+------+----------+
| Crush Dom.         | 51177  | 5    | 5    | 58858 | 0    | 59245    |
| Consumption        |        | 1833 | 7850 |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| Food Use Dom.      | 12979  | 1    | 1    | 14190 | 0    | 14227    |
| Consump.           |        | 2923 | 5052 |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| Feed,Seed,Waste    | 5073   | 4895 | 6123 | 4954  | 0    | 4995     |
| Dm.Cn.             |        |      |      |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| TOTAL Dom.         | 69229  | 6    | 7    | 78002 | 0    | 78467    |
| Consumption        |        | 9651 | 9025 |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| Ending Stocks      | 2100   | 1939 | 3700 | 3250  | 0    | 3500     |
+--------------------+--------+------+------+-------+------+----------+
| **TOTAL            | **7    | *    | *    | **82  | *    | *        |
| DISTRIBUTION**     | 2546** | *728 | *840 | 784** | *0** | *83357** |
|                    |        | 47** | 70** |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| Calendar Year      | 19060  | 2    | 10   | 20604 | 0    | 22004    |
| Imports            |        | 0913 |      |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| Calendar Yr Imp.   | 6005   | 8294 | 5    | 9001  | 0    | 9002     |
| U.S.               |        |      |      |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| Calendar Year      | 1495   | 1438 | 60   | 1431  | 0    | 1070     |
| Exports            |        |      |      |       |      |          |
+--------------------+--------+------+------+-------+------+----------+
| Calndr Yr Exp. to  | 0      | 16   | 0    | 0     | 0    | 0        |
| U.S.               |        |      |      |       |      |          |
+--------------------+--------+------+------+-------+------+----------+

### Table 2. Total Meals

+-----------------------+-----+-------+------+-------+------+---------+
| ###### PSD Table      |     |       |      |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| **Country**           | **  |       |      |       |      |         |
|                       | Chi |       |      |       |      |         |
|                       | na, |       |      |       |      |         |
|                       | P   |       |      |       |      |         |
|                       | eop |       |      |       |      |         |
|                       | les |       |      |       |      |         |
|                       | Re  |       |      |       |      |         |
|                       | pub |       |      |       |      |         |
|                       | lic |       |      |       |      |         |
|                       | o   |       |      |       |      |         |
|                       | f** |       |      |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| **Commodity**         | *   |       |      |       |      |         |
|                       | *To |       |      |       |      |         |
|                       | tal |       |      |       |      |         |
|                       | Mea |       |      |       |      |         |
|                       | l** |       |      |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
|                       | 2   | Re    | 2004 | Est   | 2005 | F       |
|                       | 003 | vised |      | imate |      | orecast |
+-----------------------+-----+-------+------+-------+------+---------+
|                       | U   | Post  | USDA | Post  | USDA | Post    |
|                       | SDA | Est   | Offi | Est   | Offi | E       |
|                       | Of  | imate | cial | imate | cial | stimate |
|                       | fic | \[    | \[O  | \[    | \[O  | \[New\] |
|                       | ial | New\] | ld\] | New\] | ld\] |         |
|                       | \   |       |      |       |      |         |
|                       | [Ol |       |      |       |      |         |
|                       | d\] |       |      |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| **Market Year Begin** |     | 10    |      | 10    |      | 10/2005 |
|                       |     | /2003 |      | /2004 |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| Crush                 | 51  | 51833 | 5    | 58858 | 0    | 59245   |
|                       | 177 |       | 6813 |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| Extr. Rate, 999.9999  |     |       |      |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| Beginning Stocks      | 0   | 0     | 0    | 0     | 0    | 0       |
+-----------------------+-----+-------+------+-------+------+---------+
| Production            | 33  | 33510 | 3    | 37520 | 0    | 38285   |
|                       | 455 |       | 6966 |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| MY Imports            | 195 | 185   | 175  | 91    | 0    | 96      |
+-----------------------+-----+-------+------+-------+------+---------+
| MY Imp. from U.S.     | 0   | 0     | 0    | 0     | 0    | 0       |
+-----------------------+-----+-------+------+-------+------+---------+
| MY Imp. from the EC   | 0   | 0     | 0    | 0     | 0    | 0       |
+-----------------------+-----+-------+------+-------+------+---------+
| **TOTAL SUPPLY**      | **3 | **35  | *    | **38  | *    | **      |
|                       | 365 | 168** | *371 | 961** | *0** | 39841** |
|                       | 0** |       | 41** |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| MY Exports            | 854 | 839   | 1172 | 1520  | 0    | 1305    |
+-----------------------+-----+-------+------+-------+------+---------+
| MY Exp. to the EC     | 30  | 30    | 30   | 0     | 0    | 0       |
+-----------------------+-----+-------+------+-------+------+---------+
| Industrial Dom.       | 1   | 1140  | 1190 | 1305  | 0    | 1335    |
| Consum                | 121 |       |      |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| Food Use Dom.         | 0   | 0     | 0    | 0     | 0    | 0       |
| Consump.              |     |       |      |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| Feed Waste Dom.       | 31  | 31716 | 3    | 34786 | 0    | 35741   |
| Consum                | 675 |       | 4779 |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| TOTAL Dom.            | 32  | 32856 | 3    | 36091 | 0    | 37076   |
| Consumption           | 796 |       | 5969 |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| Ending Stocks         | 0   | 0     | 0    | 0     | 0    | 0       |
+-----------------------+-----+-------+------+-------+------+---------+
| **TOTAL               | **3 | **33  | *    | **37  | *    | **      |
| DISTRIBUTION**        | 365 | 695** | *371 | 611** | *0** | 38381** |
|                       | 0** |       | 41** |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+
| Calendar Year Imports | 0   | 16    | 14   | 225   | 0    | 90      |
+-----------------------+-----+-------+------+-------+------+---------+
| Calendar Yr Imp. U.S. | 0   | 0     | 0    | 0     | 0    | 0       |
+-----------------------+-----+-------+------+-------+------+---------+
| Calendar Year Exports | 900 | 953   | 182  | 786   | 0    | 985     |
+-----------------------+-----+-------+------+-------+------+---------+
| Calndr Yr Exp. to     | 0   | 18    | 18   | 0     | 0    | 0       |
| U.S.                  |     |       |      |       |      |         |
+-----------------------+-----+-------+------+-------+------+---------+

### Table 3. Total Oils

+--------------------+------+-------+-------+--------+-------+--------+
| ###### PSD Table   |      |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| **Country**        | **Ch |       |       |        |       |        |
|                    | ina, |       |       |        |       |        |
|                    | Peo  |       |       |        |       |        |
|                    | ples |       |       |        |       |        |
|                    | Repu |       |       |        |       |        |
|                    | blic |       |       |        |       |        |
|                    | of** |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| **Commodity**      | **T  |       |       |        |       |        |
|                    | otal |       |       |        |       |        |
|                    | Oi   |       |       |        |       |        |
|                    | ls** |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
|                    | 2003 | Re    | 2004  | Es     | 2005  | Fo     |
|                    |      | vised |       | timate |       | recast |
+--------------------+------+-------+-------+--------+-------+--------+
|                    | USDA | Post  | USDA  | Post   | USDA  | Post   |
|                    | Offi | Est   | Off   | Es     | Off   | Es     |
|                    | cial | imate | icial | timate | icial | timate |
|                    | \[O  | \[    | \[    | \      | \[    | \      |
|                    | ld\] | New\] | Old\] | [New\] | Old\] | [New\] |
+--------------------+------+-------+-------+--------+-------+--------+
| **Market Year      |      | 10    |       | 1      |       | 1      |
| Begin**            |      | /2003 |       | 0/2004 |       | 0/2005 |
+--------------------+------+-------+-------+--------+-------+--------+
| Crush              | 5    | 51833 | 57850 | 58858  | 0     | 59245  |
|                    | 1177 |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| Extr. Rate,        |      |       |       |        |       |        |
| 999.9999           |      |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| Beginning Stocks   | 250  | 250   | 325   | 400    | 250   | 200    |
+--------------------+------+-------+-------+--------+-------+--------+
| Production         | 1    | 12128 | 13277 | 13657  | 0     | 13710  |
|                    | 1940 |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| MY Imports         | 6975 | 6975  | 7084  | 6217   | 0     | 7447   |
+--------------------+------+-------+-------+--------+-------+--------+
| MY Imp. from U.S.  | 0    | 0     | 0     | 5      | 0     | 5      |
+--------------------+------+-------+-------+--------+-------+--------+
| MY Imp. from the   | 40   | 40    | 0     | 40     | 0     | 0      |
| EC                 |      |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| **TOTAL SUPPLY**   | *    | **19  | **20  | **2    | **    | **2    |
|                    | *191 | 353** | 686** | 0274** | 250** | 1357** |
|                    | 65** |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| MY Exports         | 45   | 45    | 52    | 51     | 0     | 55     |
+--------------------+------+-------+-------+--------+-------+--------+
| MY Exp. to the EC  | 0    | 15    | 0     | 0      | 0     | 0      |
+--------------------+------+-------+-------+--------+-------+--------+
| Industrial Dom.    | 0    | 400   | 0     | 470    | 0     | 470    |
| Consum             |      |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| Food Use Dom.      | 1    | 18508 | 20384 | 19553  | 0     | 20592  |
| Consump.           | 8795 |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| Feed Waste Dom.    | 0    | 0     | 0     | 0      | 0     | 0      |
| Consum             |      |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| TOTAL Dom.         | 1    | 18908 | 20384 | 20023  | 0     | 21062  |
| Consumption        | 8795 |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| Ending Stocks      | 325  | 400   | 250   | 200    | 0     | 240    |
+--------------------+------+-------+-------+--------+-------+--------+
| **TOTAL            | *    | **19  | **20  | **2    | **0** | **2    |
| DISTRIBUTION**     | *191 | 353** | 686** | 0274** |       | 1357** |
|                    | 65** |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| Calendar Year      | 1500 | 5558  | 225   | 5989   | 0     | 2400   |
| Imports            |      |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| Calendar Yr Imp.   | 400  | 95    | 0     | 10     | 0     | 5      |
| U.S.               |      |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| Calendar Year      | 55   | 41    | 10    | 49     | 0     | 28     |
| Exports            |      |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+
| Calndr Yr Exp. to  | 0    | 0     | 0     | 0      | 0     | 0      |
| U.S.               |      |       |       |        |       |        |
+--------------------+------+-------+-------+--------+-------+--------+

## Oilseeds PSD Tables

### Table 4. Soybeans

+---------------------+-----+-------+------+--------+-------+---------+
| ###### PSD Table    |     |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| **Country**         | **  |       |      |        |       |         |
|                     | Chi |       |      |        |       |         |
|                     | na, |       |      |        |       |         |
|                     | P   |       |      |        |       |         |
|                     | eop |       |      |        |       |         |
|                     | les |       |      |        |       |         |
|                     | Re  |       |      |        |       |         |
|                     | pub |       |      |        |       |         |
|                     | lic |       |      |        |       |         |
|                     | o   |       |      |        |       |         |
|                     | f** |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| **Commodity**       | *   |       |      |        | (1000 |         |
|                     | *Oi |       |      |        | HA)   |         |
|                     | lse |       |      |        |       |         |
|                     | ed, |       |      |        | (1000 |         |
|                     | Soy |       |      |        | MT)   |         |
|                     | bea |       |      |        |       |         |
|                     | n** |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
|                     | 2   | Re    | 2004 | Es     | 2005  | F       |
|                     | 003 | vised |      | timate |       | orecast |
+---------------------+-----+-------+------+--------+-------+---------+
|                     | U   | Post  | USDA | Post   | USDA  | Post    |
|                     | SDA | Est   | Offi | Es     | Off   | E       |
|                     | Of  | imate | cial | timate | icial | stimate |
|                     | fic | \[    | \[O  | \      | \[    | \[New\] |
|                     | ial | New\] | ld\] | [New\] | Old\] |         |
|                     | \   |       |      |        |       |         |
|                     | [Ol |       |      |        |       |         |
|                     | d\] |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| **Market Year       |     | 10    |      | 1      |       | 10/2005 |
| Begin**             |     | /2003 |      | 0/2004 |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| Area Planted        | 9   | 9500  | 9800 | 9870   | 0     | 9800    |
|                     | 800 |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| Area Harvested      | 9   | 9313  | 9800 | 9800   | 0     | 9800    |
|                     | 300 |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| Beginning Stocks    | 4   | 4650  | 2100 | 1939   | 3700  | 3250    |
|                     | 467 |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| Production          | 15  | 15390 | 1    | 18000  | 0     | 17500   |
|                     | 400 |       | 8000 |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| MY Imports          | 16  | 16933 | 2    | 21000  | 0     | 22500   |
|                     | 933 |       | 2500 |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| MY Imp. from U.S.   | 8   | 8287  | 0    | 10500  | 0     | 10000   |
|                     | 287 |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| MY Imp. from the EC | 0   | 0     | 0    | 0      | 0     | 0       |
+---------------------+-----+-------+------+--------+-------+---------+
| **TOTAL SUPPLY**    | **3 | **36  | *    | **4    | **3   | **      |
|                     | 680 | 973** | *426 | 0939** | 700** | 43250** |
|                     | 0** |       | 00** |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| MY Exports          | 319 | 380   | 250  | 450    | 0     | 400     |
+---------------------+-----+-------+------+--------+-------+---------+
| MY Exp. to the EC   | 3   | 3     | 0    | 3      | 0     | 0       |
+---------------------+-----+-------+------+--------+-------+---------+
| Crush Dom.          | 25  | 25269 | 2    | 27300  | 0     | 29250   |
| Consumption         | 439 |       | 8750 |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| Food Use Dom.       | 7   | 7500  | 8000 | 8000   | 0     | 8200    |
| Consump.            | 210 |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| Feed,Seed,Waste     | 1   | 1885  | 1900 | 1939   | 0     | 1900    |
| Dm.Cn.              | 732 |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| TOTAL Dom.          | 34  | 34654 | 3    | 37239  | 0     | 39350   |
| Consumption         | 381 |       | 8650 |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| Ending Stocks       | 2   | 1939  | 3700 | 3250   | 0     | 3500    |
|                     | 100 |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| **TOTAL             | **3 | **36  | *    | **4    | **0** | **      |
| DISTRIBUTION**      | 680 | 973** | *426 | 0939** |       | 43250** |
|                     | 0** |       | 00** |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| Calendar Year       | 18  | 20744 | 0    | 20178  | 0     | 21500   |
| Imports             | 500 |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| Calendar Yr Imp.    | 6   | 8293  | 0    | 9000   | 0     | 9000    |
| U.S.                | 000 |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| Calendar Year       | 300 | 267   | 0    | 300    | 0     | 0       |
| Exports             |     |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+
| Calndr Yr Exp. to   | 0   | 0     | 0    | 0      | 0     | 0       |
| U.S.                |     |       |      |        |       |         |
+---------------------+-----+-------+------+--------+-------+---------+

### Table 5. Rapeseed

+--------------------+------+-------+------+--------+-------+---------+
| ###### PSD Table   |      |       |      |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| **Country**        | **Ch |       |      |        |       |         |
|                    | ina, |       |      |        |       |         |
|                    | Peo  |       |      |        |       |         |
|                    | ples |       |      |        |       |         |
|                    | Repu |       |      |        |       |         |
|                    | blic |       |      |        |       |         |
|                    | of** |       |      |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| **Commodity**      | **   |       |      |        | (1000 |         |
|                    | Oils |       |      |        | HA)   |         |
|                    | eed, |       |      |        |       |         |
|                    | Ra   |       |      |        | (1000 |         |
|                    | pese |       |      |        | MT)   |         |
|                    | ed** |       |      |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
|                    | 2003 | Re    | 2004 | Es     | 2005  | F       |
|                    |      | vised |      | timate |       | orecast |
+--------------------+------+-------+------+--------+-------+---------+
|                    | USDA | Post  | USDA | Post   | USDA  | Post    |
|                    | Offi | Est   | Offi | Es     | Off   | E       |
|                    | cial | imate | cial | timate | icial | stimate |
|                    | \[O  | \[    | \[O  | \      | \[    | \[New\] |
|                    | ld\] | New\] | ld\] | [New\] | Old\] |         |
+--------------------+------+-------+------+--------+-------+---------+
| **Market Year      |      | 10    |      | 1      |       | 10/2005 |
| Begin**            |      | /2003 |      | 0/2004 |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| Area Planted       | 0    | 8000  | 0    | 8200   | 0     | 8300    |
+--------------------+------+-------+------+--------+-------+---------+
| Area Harvested     | 7220 | 7221  | 7800 | 8000   | 0     | 8000    |
+--------------------+------+-------+------+--------+-------+---------+
| Beginning Stocks   | 0    | 0     | 0    | 0      | 0     | 0       |
+--------------------+------+-------+------+--------+-------+---------+
| Production         | 1    | 11420 | 1    | 12500  | 0     | 12000   |
|                    | 1420 |       | 2000 |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| MY Imports         | 419  | 419   | 950  | 800    | 0     | 800     |
+--------------------+------+-------+------+--------+-------+---------+
| MY Imp. from U.S.  | 0    | 0     | 0    | 0      | 0     | 0       |
+--------------------+------+-------+------+--------+-------+---------+
| MY Imp. from the   | 58   | 58    | 0    | 0      | 0     | 0       |
| EC                 |      |       |      |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| **TOTAL SUPPLY**   | *    | **11  | *    | **1    | **0** | **      |
|                    | *118 | 839** | *129 | 3300** |       | 12800** |
|                    | 39** |       | 50** |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| MY Exports         | 1    | 1     | 5    | 2      | 0     | 5       |
+--------------------+------+-------+------+--------+-------+---------+
| MY Exp. to the EC  | 0    | 0     | 0    | 0      | 0     | 0       |
+--------------------+------+-------+------+--------+-------+---------+
| Crush Dom.         | 1    | 11238 | 1    | 12628  | 0     | 12095   |
| Consumption        | 1248 |       | 2275 |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| Food Use Dom.      | 0    | 0     | 0    | 0      | 0     | 0       |
| Consump.           |      |       |      |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| Feed,Seed,Waste    | 590  | 600   | 670  | 670    | 0     | 700     |
| Dm.Cn.             |      |       |      |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| TOTAL Dom.         | 1    | 11838 | 1    | 13298  | 0     | 12795   |
| Consumption        | 1838 |       | 2945 |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| Ending Stocks      | 0    | 0     | 0    | 0      | 0     | 0       |
+--------------------+------+-------+------+--------+-------+---------+
| **TOTAL            | *    | **11  | *    | **1    | **0** | **      |
| DISTRIBUTION**     | *118 | 839** | *129 | 3300** |       | 12800** |
|                    | 39** |       | 50** |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| Calendar Year      | 550  | 167   | 0    | 424    | 0     | 500     |
| Imports            |      |       |      |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| Calendar Yr Imp.   | 0    | 0     | 0    | 0      | 0     | 0       |
| U.S.               |      |       |      |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| Calendar Year      | 0    | 3     | 0    | 5      | 0     | 0       |
| Exports            |      |       |      |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+
| Calndr Yr Exp. to  | 0    | 0     | 0    | 0      | 0     | 0       |
| U.S.               |      |       |      |        |       |         |
+--------------------+------+-------+------+--------+-------+---------+

### Table 6. Peanuts

+--------------------+------+--------+-------+--------+------+--------+
| ###### PSD Table   |      |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| **Country**        | **Ch |        |       |        |      |        |
|                    | ina, |        |       |        |      |        |
|                    | Peo  |        |       |        |      |        |
|                    | ples |        |       |        |      |        |
|                    | Repu |        |       |        |      |        |
|                    | blic |        |       |        |      |        |
|                    | of** |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| **Commodity**      | **   |        |       |        | (    |        |
|                    | Oils |        |       |        | 1000 |        |
|                    | eed, |        |       |        | HA)  |        |
|                    | Pean |        |       |        |      |        |
|                    | ut** |        |       |        | (    |        |
|                    |      |        |       |        | 1000 |        |
|                    |      |        |       |        | MT)  |        |
+--------------------+------+--------+-------+--------+------+--------+
|                    | 2003 | R      | 2004  | Es     | 2005 | Fo     |
|                    |      | evised |       | timate |      | recast |
+--------------------+------+--------+-------+--------+------+--------+
|                    | USDA | Post   | USDA  | Post   | USDA | Post   |
|                    | Offi | Es     | Off   | Es     | Offi | Es     |
|                    | cial | timate | icial | timate | cial | timate |
|                    | \[O  | \      | \[    | \      | \[O  | \      |
|                    | ld\] | [New\] | Old\] | [New\] | ld\] | [New\] |
+--------------------+------+--------+-------+--------+------+--------+
| **Market Year      |      | 1      |       | 1      |      | 1      |
| Begin**            |      | 0/2003 |       | 0/2004 |      | 0/2005 |
+--------------------+------+--------+-------+--------+------+--------+
| Area Planted       | 5100 | 5057   | 5400  | 5300   | 0    | 5200   |
+--------------------+------+--------+-------+--------+------+--------+
| Area Harvested     | 5057 | 5057   | 5300  | 5140   | 0    | 5200   |
+--------------------+------+--------+-------+--------+------+--------+
| Beginning Stocks   | 0    | 0      | 0     | 0      | 0    | 0      |
+--------------------+------+--------+-------+--------+------+--------+
| Production         | 1    | 13420  | 15300 | 15350  | 0    | 15000  |
|                    | 3420 |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| MY Imports         | 2    | 0      | 2     | 3      | 0    | 3      |
+--------------------+------+--------+-------+--------+------+--------+
| My Imp. from U.S.  | 0    | 0      | 0     | 0      | 0    | 0      |
+--------------------+------+--------+-------+--------+------+--------+
| MY Imp. from the   | 0    | 0      | 0     | 0      | 0    | 0      |
| EC                 |      |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| **TOTAL SUPPLY**   | *    | **1    | **15  | **1    | *    | **1    |
|                    | *134 | 3420** | 302** | 5353** | *0** | 5003** |
|                    | 22** |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| MY Exports         | 821  | 800    | 1000  | 1000   | 0    | 900    |
+--------------------+------+--------+-------+--------+------+--------+
| MY Exp. to the EC  | 200  | 200    | 200   | 210    | 0    | 250    |
+--------------------+------+--------+-------+--------+------+--------+
| Crush Dom.         | 6800 | 7000   | 7250  | 8000   | 0    | 7950   |
| Consumption        |      |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| Food Use Dom.      | 4981 | 4800   | 6202  | 5553   | 0    | 5353   |
| Consump.           |      |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| Feed,Seed,Waste    | 820  | 820    | 850   | 800    | 0    | 800    |
| Dm.Cn.             |      |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| TOTAL Dom.         | 1    | 12620  | 14302 | 14353  | 0    | 14103  |
| Consumption        | 2601 |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| Ending Stocks      | 0    | 0      | 0     | 0      | 0    | 0      |
+--------------------+------+--------+-------+--------+------+--------+
| **TOTAL            | *    | **1    | **15  | **1    | *    | **1    |
| DISTRIBUTION**     | *134 | 3420** | 302** | 5353** | *0** | 5003** |
|                    | 22** |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| Calendar Year      | 0    | 0      | 0     | 0      | 0    | 0      |
| Imports            |      |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| Calendar Yr Imp.   | 0    | 0      | 0     | 0      | 0    | 0      |
| U.S.               |      |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| Calendar Year      | 1125 | 1098   | 0     | 1050   | 0    | 1000   |
| Exports            |      |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+
| Calndr Yr Exp. to  | 0    | 16     | 0     | 0      | 0    | 0      |
| U.S.               |      |        |       |        |      |        |
+--------------------+------+--------+-------+--------+------+--------+

### Table 7. Sunflower Seed

+---------------------+-----+-------+------+--------+--------+--------+
| ###### PSD Table    |     |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| **Country**         | **  |       |      |        |        |        |
|                     | Chi |       |      |        |        |        |
|                     | na, |       |      |        |        |        |
|                     | P   |       |      |        |        |        |
|                     | eop |       |      |        |        |        |
|                     | les |       |      |        |        |        |
|                     | Re  |       |      |        |        |        |
|                     | pub |       |      |        |        |        |
|                     | lic |       |      |        |        |        |
|                     | o   |       |      |        |        |        |
|                     | f** |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| **Commodity**       | *   |       |      |        | (1000  |        |
|                     | *Oi |       |      |        | HA)    |        |
|                     | lse |       |      |        |        |        |
|                     | ed, |       |      |        | (1000  |        |
|                     | Sun |       |      |        | MT)    |        |
|                     | flo |       |      |        |        |        |
|                     | wer |       |      |        |        |        |
|                     | see |       |      |        |        |        |
|                     | d** |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
|                     | 2   | Re    | 2004 | Es     | 2005   | Fo     |
|                     | 003 | vised |      | timate |        | recast |
+---------------------+-----+-------+------+--------+--------+--------+
|                     | U   | Post  | USDA | Post   | USDA   | Post   |
|                     | SDA | Est   | Offi | Es     | Of     | Es     |
|                     | Of  | imate | cial | timate | ficial | timate |
|                     | fic | \[    | \[O  | \      | \      | \      |
|                     | ial | New\] | ld\] | [New\] | [Old\] | [New\] |
|                     | \   |       |      |        |        |        |
|                     | [Ol |       |      |        |        |        |
|                     | d\] |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| **Market Year       |     | 10    |      | 1      |        | 1      |
| Begin**             |     | /2003 |      | 0/2004 |        | 0/2005 |
+---------------------+-----+-------+------+--------+--------+--------+
| Area Planted        | 1   | 1200  | 1250 | 1100   | 0      | 1150   |
|                     | 200 |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| Area Harvested      | 1   | 1173  | 1200 | 1100   | 0      | 1150   |
|                     | 173 |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| Beginning Stocks    | 0   | 0     | 0    | 0      | 0      | 0      |
+---------------------+-----+-------+------+--------+--------+--------+
| Production          | 1   | 1743  | 1850 | 1690   | 0      | 1800   |
|                     | 743 |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| MY Imports          | 2   | 2     | 3    | 2      | 0      | 4      |
+---------------------+-----+-------+------+--------+--------+--------+
| MY Imp. from U.S.   | 5   | 1     | 5    | 1      | 0      | 2      |
+---------------------+-----+-------+------+--------+--------+--------+
| MY Imp. from the EC | 0   | 0     | 0    | 0      | 0      | 0      |
+---------------------+-----+-------+------+--------+--------+--------+
| **TOTAL SUPPLY**    | **  | **1   | **18 | **     | **0**  | **     |
|                     | 174 | 745** | 53** | 1692** |        | 1804** |
|                     | 5** |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| MY Exports          | 74  | 74    | 80   | 80     | 0      | 85     |
+---------------------+-----+-------+------+--------+--------+--------+
| MY Exp. to the EC   | 20  | 36    | 30   | 40     | 0      | 40     |
+---------------------+-----+-------+------+--------+--------+--------+
| Crush Dom.          | 790 | 958   | 825  | 880    | 0      | 950    |
| Consumption         |     |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| Food Use Dom.       | 788 | 623   | 850  | 637    | 0      | 674    |
| Consump.            |     |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| Feed,Seed,Waste     | 93  | 90    | 98   | 95     | 0      | 95     |
| Dm.Cn.              |     |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| TOTAL Dom.          | 1   | 1671  | 1773 | 1612   | 0      | 1719   |
| Consumption         | 671 |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| Ending Stocks       | 0   | 0     | 0    | 0      | 0      | 0      |
+---------------------+-----+-------+------+--------+--------+--------+
| **TOTAL             | **  | **1   | **18 | **     | **0**  | **     |
| DISTRIBUTION**      | 174 | 745** | 53** | 1692** |        | 1804** |
|                     | 5** |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| Calendar Year       | 10  | 2     | 10   | 2      | 0      | 4      |
| Imports             |     |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| Calendar Yr Imp.    | 5   | 1     | 5    | 1      | 0      | 2      |
| U.S.                |     |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| Calendar Year       | 70  | 70    | 60   | 76     | 0      | 70     |
| Exports             |     |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+
| Calndr Yr Exp. to   | 0   | 0     | 0    | 0      | 0      | 0      |
| U.S.                |     |       |      |        |        |        |
+---------------------+-----+-------+------+--------+--------+--------+

### Table 8. Cotton Seeds

+--------------------+-------+--------+-------+--------+------+-------+
| ###### PSD Table   |       |        |       |        |      |       |
+--------------------+-------+--------+-------+--------+------+-------+
| **Country**        | **C   |        |       |        |      |       |
|                    | hina, |        |       |        |      |       |
|                    | Pe    |        |       |        |      |       |
|                    | oples |        |       |        |      |       |
|                    | Rep   |        |       |        |      |       |
|                    | ublic |        |       |        |      |       |
|                    | of**  |        |       |        |      |       |
+--------------------+-------+--------+-------+--------+------+-------+
| **Commodity**      | **Oil |        |       |        | (    |       |
|                    | seed, |        |       |        | 1000 |       |
|                    | Co    |        |       |        | HA)  |       |
|                    | ttons |        |       |        |      |       |
|                    | eed** |        |       |        | (    |       |
|                    |       |        |       |        | 1000 |       |
|                    |       |        |       |        | MT   |       |
|                    |       |        |       |        | )(RA |       |
|                    |       |        |       |        | TIO) |       |
+--------------------+-------+--------+-------+--------+------+-------+
|                    | 2003  | R      | 2004  | Es     | 2005 | For   |
|                    |       | evised |       | timate |      | ecast |
+--------------------+-------+--------+-------+--------+------+-------+
|                    | USDA  | Post   | USDA  | Post   | USDA | Post  |
|                    | Off   | Es     | Off   | Es     | Offi | Est   |
|                    | icial | timate | icial | timate | cial | imate |
|                    | \[    | \      | \[    | \      | \[O  | \[    |
|                    | Old\] | [New\] | Old\] | [New\] | ld\] | New\] |
+--------------------+-------+--------+-------+--------+------+-------+
| **Market Year      |       | 1      |       | 1      |      | 10    |
| Begin**            |       | 0/2003 |       | 0/2004 |      | /2005 |
+--------------------+-------+--------+-------+--------+------+-------+
| Area Planted       | 5200  | 5111   | 0     | 5690   | 0    | 5400  |
| (COTTON)           |       |        |       |        |      |       |
+--------------------+-------+--------+-------+--------+------+-------+
| Area               | 5110  | 5111   | 5700  | 5690   | 0    | 5400  |
| Harvested(COTTON)  |       |        |       |        |      |       |
+--------------------+-------+--------+-------+--------+------+-------+
| Seed to Lint Ratio | 0     | 0      | 0     | 0      | 0    | 0     |
+--------------------+-------+--------+-------+--------+------+-------+
| Beginning Stocks   | 0     | 0      | 0     | 0      | 0    | 0     |
+--------------------+-------+--------+-------+--------+------+-------+
| Production         | 8740  | 8870   | 11365 | 11500  | 0    | 10500 |
+--------------------+-------+--------+-------+--------+------+-------+
| MY Imports         | 0     | 0      | 0     | 0      | 0    | 0     |
+--------------------+-------+--------+-------+--------+------+-------+
| MY Imp. from U.S.  | 0     | 0      | 0     | 0      | 0    | 0     |
+--------------------+-------+--------+-------+--------+------+-------+
| MY Imp. from the   | 0     | 0      | 0     | 0      | 0    | 0     |
| EC                 |       |        |       |        |      |       |
+--------------------+-------+--------+-------+--------+------+-------+
| **TOTAL SUPPLY**   | **8   | **     | **11  | **1    | *    | **10  |
|                    | 740** | 8870** | 365** | 1500** | *0** | 500** |
+--------------------+-------+--------+-------+--------+------+-------+
| MY Exports         | 2     | 2      | 10    | 0      | 0    | 0     |
+--------------------+-------+--------+-------+--------+------+-------+
| MY Exp. to the EC  | 0     | 0      | 0     | 0      | 0    | 0     |
+--------------------+-------+--------+-------+--------+------+-------+
| Crush Dom.         | 6900  | 7368   | 8750  | 10050  | 0    | 9000  |
| Consumption        |       |        |       |        |      |       |
+--------------------+-------+--------+-------+--------+------+-------+
| Food Use Dom.      | 0     | 0      | 0     | 0      | 0    | 0     |
| Consump.           |       |        |       |        |      |       |
+--------------------+-------+--------+-------+--------+------+-------+
| Feed,Seed,Waste    | 1838  | 1500   | 2605  | 1450   | 0    | 1500  |
| Dm.Cm.             |       |        |       |        |      |       |
+--------------------+-------+--------+-------+--------+------+-------+
| TOTAL Dom.         | 8738  | 8868   | 11355 | 11500  | 0    | 10500 |
| Consumption        |       |        |       |        |      |       |
+--------------------+-------+--------+-------+--------+------+-------+
| Ending Stocks      | 0     | 0      | 0     | 0      | 0    | 0     |
+--------------------+-------+--------+-------+--------+------+-------+
| **TOTAL            | **8   | **     | **11  | **1    | *    | **10  |
| DISTRIBUTION**     | 740** | 8870** | 365** | 1500** | *0** | 500** |
+--------------------+-------+--------+-------+--------+------+-------+
| Calendar Year      | 0     | 0      | 0     | 0      | 0    | 0     |
| 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.               |       |        |       |        |      |       |
+--------------------+-------+--------+-------+--------+------+-------+

##  Meals PSD Tables

### Table 9. Soybean Meal

+--------------------+-------+--------+-------+--------+-----+--------+
| ###### PSD Table   |       |        |       |        |     |        |
+--------------------+-------+--------+-------+--------+-----+--------+
| **Country**        | **C   |        |       |        |     |        |
|                    | hina, |        |       |        |     |        |
|                    | Pe    |        |       |        |     |        |
|                    | oples |        |       |        |     |        |
|                    | Rep   |        |       |        |     |        |
|                    | ublic |        |       |        |     |        |
|                    | of**  |        |       |        |     |        |
+--------------------+-------+--------+-------+--------+-----+--------+
| **Commodity**      | **    |        |       |        | (1  |        |
|                    | Meal, |        |       |        | 000 |        |
|                    | Soyb  |        |       |        | MT) |        |
|                    | ean** |        |       |        |     |        |
|                    |       |        |       |        | (PE |        |
|                    |       |        |       |        | RCE |        |
|                    |       |        |       |        | NT) |        |
+--------------------+-------+--------+-------+--------+-----+--------+
|                    | 2003  | R      | 2004  | Es     | 2   | Fo     |
|                    |       | evised |       | timate | 005 | recast |
+--------------------+-------+--------+-------+--------+-----+--------+
|                    | USDA  | Post   | USDA  | Post   | U   | Post   |
|                    | Off   | Es     | Off   | Es     | SDA | Es     |
|                    | icial | timate | icial | timate | Of  | timate |
|                    | \[    | \      | \[    | \      | fic | \      |
|                    | Old\] | [New\] | Old\] | [New\] | ial | [New\] |
|                    |       |        |       |        | \   |        |
|                    |       |        |       |        | [Ol |        |
|                    |       |        |       |        | d\] |        |
+--------------------+-------+--------+-------+--------+-----+--------+
| **Market Year      |       | 1      |       | 1      |     | 1      |
| Begin**            |       | 0/2003 |       | 0/2004 |     | 0/2005 |
+--------------------+-------+--------+-------+--------+-----+--------+
| Crush              | 25439 | 25269  | 28750 | 27300  | 0   | 29250  |
+--------------------+-------+--------+-------+--------+-----+--------+
| Extr. Rate,        | 0.7   | 0.7    | 0.7   | 0.7    | 0   | 0.7    |
| 999.9999           | 93663 | 914836 | 92695 | 930402 |     | 914529 |
+--------------------+-------+--------+-------+--------+-----+--------+
| Beginning Stocks   | 0     | 0      | 0     | 0      | 0   | 0      |
+--------------------+-------+--------+-------+--------+-----+--------+
| Production         | 20190 | 20000  | 22790 | 21650  | 0   | 23150  |
+--------------------+-------+--------+-------+--------+-----+--------+
| MY Imports         | 19    | 20     | 70    | 50     | 0   | 50     |
+--------------------+-------+--------+-------+--------+-----+--------+
| MY Imp. from U.S.  | 0     | 0      | 0     | 0      | 0   | 0      |
+--------------------+-------+--------+-------+--------+-----+--------+
| MY Imp. from the   | 0     | 0      | 0     | 0      | 0   | 0      |
| EC                 |       |        |       |        |     |        |
+--------------------+-------+--------+-------+--------+-----+--------+
| **TOTAL SUPPLY**   | **20  | **2    | **22  | **2    | **  | **2    |
|                    | 209** | 0020** | 860** | 1700** | 0** | 3200** |
+--------------------+-------+--------+-------+--------+-----+--------+
| MY Exports         | 647   | 632    | 820   | 1100   | 0   | 1000   |
+--------------------+-------+--------+-------+--------+-----+--------+
| MY Exp. to the EC  | 0     | 0      | 0     | 0      | 0   | 0      |
+--------------------+-------+--------+-------+--------+-----+--------+
| Industrial Dom.    | 580   | 640    | 670   | 700    | 0   | 720    |
| Consum             |       |        |       |        |     |        |
+--------------------+-------+--------+-------+--------+-----+--------+
| Food Use Dom.      | 0     | 0      | 0     | 0      | 0   | 0      |
| Consump.           |       |        |       |        |     |        |
+--------------------+-------+--------+-------+--------+-----+--------+
| Feed Waste Dom.    | 18982 | 18748  | 21370 | 19900  | 0   | 21480  |
| Consum             |       |        |       |        |     |        |
+--------------------+-------+--------+-------+--------+-----+--------+
| TOTAL Dom.         | 19562 | 19388  | 22040 | 20600  | 0   | 22200  |
| Consumption        |       |        |       |        |     |        |
+--------------------+-------+--------+-------+--------+-----+--------+
| Ending Stocks      | 0     | 0      | 0     | 0      | 0   | 0      |
+--------------------+-------+--------+-------+--------+-----+--------+
| **TOTAL            | **20  | **2    | **22  | **2    | **  | **2    |
| DISTRIBUTION**     | 209** | 0020** | 860** | 1700** | 0** | 3200** |
+--------------------+-------+--------+-------+--------+-----+--------+
| Calendar Year      | 0     | 2      | 0     | 55     | 0   | 50     |
| Imports            |       |        |       |        |     |        |
+--------------------+-------+--------+-------+--------+-----+--------+
| Calendar Yr Imp.   | 0     | 0      | 0     | 0      | 0   | 0      |
| U.S.               |       |        |       |        |     |        |
+--------------------+-------+--------+-------+--------+-----+--------+
| Calendar Year      | 900   | 765    | 0     | 657    | 0   | 850    |
| Exports            |       |        |       |        |     |        |
+--------------------+-------+--------+-------+--------+-----+--------+
| Calndr Yr Exp. to  | 0     | 0      | 0     | 0      | 0   | 0      |
| U.S.               |       |        |       |        |     |        |
+--------------------+-------+--------+-------+--------+-----+--------+

### Table 10. Rapeseed Meal

+----------------------+-------+-------+-------+-------+-----+--------+
| ###### PSD Table     |       |       |       |       |     |        |
+----------------------+-------+-------+-------+-------+-----+--------+
| **Country**          | **C   |       |       |       |     |        |
|                      | hina, |       |       |       |     |        |
|                      | Pe    |       |       |       |     |        |
|                      | oples |       |       |       |     |        |
|                      | Rep   |       |       |       |     |        |
|                      | ublic |       |       |       |     |        |
|                      | of**  |       |       |       |     |        |
+----------------------+-------+-------+-------+-------+-----+--------+
| **Commodity**        | **    |       |       |       | (1  |        |
|                      | Meal, |       |       |       | 000 |        |
|                      | Rapes |       |       |       | MT) |        |
|                      | eed** |       |       |       |     |        |
|                      |       |       |       |       | (PE |        |
|                      |       |       |       |       | RCE |        |
|                      |       |       |       |       | NT) |        |
+----------------------+-------+-------+-------+-------+-----+--------+
|                      | 2003  | Re    | 2004  | Est   | 2   | Fo     |
|                      |       | vised |       | imate | 005 | recast |
+----------------------+-------+-------+-------+-------+-----+--------+
|                      | USDA  | Post  | USDA  | Post  | U   | Post   |
|                      | Off   | Est   | Off   | Est   | SDA | Es     |
|                      | icial | imate | icial | imate | Of  | timate |
|                      | \[    | \[    | \[    | \[    | fic | \      |
|                      | Old\] | New\] | Old\] | New\] | ial | [New\] |
|                      |       |       |       |       | \   |        |
|                      |       |       |       |       | [Ol |        |
|                      |       |       |       |       | d\] |        |
+----------------------+-------+-------+-------+-------+-----+--------+
| **Market Year        |       | 10    |       | 10    |     | 1      |
| Begin**              |       | /2003 |       | /2004 |     | 0/2005 |
+----------------------+-------+-------+-------+-------+-----+--------+
| Crush                | 11248 | 11238 | 12275 | 12628 | 0   | 12095  |
+----------------------+-------+-------+-------+-------+-----+--------+
| Extr. Rate, 999.9999 | 0.6   | 0.6   | 0.6   | 0.6   | 0   | 0.6    |
|                      | 35668 | 35344 | 32179 | 32720 |     | 349731 |
+----------------------+-------+-------+-------+-------+-----+--------+
| Beginning Stocks     | 0     | 0     | 0     | 0     | 0   | 0      |
+----------------------+-------+-------+-------+-------+-----+--------+
| Production           | 7150  | 7140  | 7760  | 7990  | 0   | 7680   |
+----------------------+-------+-------+-------+-------+-----+--------+
| MY Imports           | 75    | 90    | 40    | 40    | 0   | 45     |
+----------------------+-------+-------+-------+-------+-----+--------+
| MY Imp. from U.S.    | 0     | 0     | 0     | 0     | 0   | 0      |
+----------------------+-------+-------+-------+-------+-----+--------+
| MY Imp. from the EC  | 0     | 0     | 0     | 0     | 0   | 0      |
+----------------------+-------+-------+-------+-------+-----+--------+
| **TOTAL SUPPLY**     | **7   | **7   | **7   | **8   | **  | **     |
|                      | 225** | 230** | 800** | 030** | 0** | 7725** |
+----------------------+-------+-------+-------+-------+-----+--------+
| MY Exports           | 157   | 157   | 240   | 250   | 0   | 200    |
+----------------------+-------+-------+-------+-------+-----+--------+
| MY Exp. to the EC    | 30    | 30    | 30    | 0     | 0   | 0      |
+----------------------+-------+-------+-------+-------+-----+--------+
| Industrial Dom.      | 341   | 300   | 350   | 385   | 0   | 390    |
| Consum               |       |       |       |       |     |        |
+----------------------+-------+-------+-------+-------+-----+--------+
| Food Use Dom.        | 0     | 0     | 0     | 0     | 0   | 0      |
| Consump.             |       |       |       |       |     |        |
+----------------------+-------+-------+-------+-------+-----+--------+
| Feed Waste Dom.      | 6727  | 6773  | 7210  | 7395  | 0   | 7135   |
| Consum               |       |       |       |       |     |        |
+----------------------+-------+-------+-------+-------+-----+--------+
| TOTAL Dom.           | 7068  | 7073  | 7560  | 7780  | 0   | 7525   |
| Consumption          |       |       |       |       |     |        |
+----------------------+-------+-------+-------+-------+-----+--------+
| Ending Stocks        | 0     | 0     | 0     | 0     | 0   | 0      |
+----------------------+-------+-------+-------+-------+-----+--------+
| **TOTAL              | **7   | **7   | **7   | **8   | **  | **     |
| DISTRIBUTION**       | 225** | 230** | 800** | 030** | 0** | 7725** |
+----------------------+-------+-------+-------+-------+-----+--------+
| Calendar Year        | 0     | 14    | 0     | 94    | 0   | 40     |
| Imports              |       |       |       |       |     |        |
+----------------------+-------+-------+-------+-------+-----+--------+
| Calendar Yr Imp.     | 0     | 0     | 0     | 0     | 0   | 0      |
| U.S.                 |       |       |       |       |     |        |
+----------------------+-------+-------+-------+-------+-----+--------+
| Calendar Year        | 0     | 182   | 0     | 125   | 0   | 120    |
| Exports              |       |       |       |       |     |        |
+----------------------+-------+-------+-------+-------+-----+--------+
| Calndr Yr Exp. to    | 0     | 18    | 0     | 0     | 0   | 0      |
| U.S.                 |       |       |       |       |     |        |
+----------------------+-------+-------+-------+-------+-----+--------+

### Table 11. Peanut Meal

+---------------------+-------+-------+-------+--------+------+-------+
| ###### PSD Table    |       |       |       |        |      |       |
+---------------------+-------+-------+-------+--------+------+-------+
| **Country**         | **C   |       |       |        |      |       |
|                     | hina, |       |       |        |      |       |
|                     | Pe    |       |       |        |      |       |
|                     | oples |       |       |        |      |       |
|                     | Rep   |       |       |        |      |       |
|                     | ublic |       |       |        |      |       |
|                     | of**  |       |       |        |      |       |
+---------------------+-------+-------+-------+--------+------+-------+
| **Commodity**       | **    |       |       |        | (    |       |
|                     | Meal, |       |       |        | 1000 |       |
|                     | Pea   |       |       |        | MT)  |       |
|                     | nut** |       |       |        |      |       |
|                     |       |       |       |        | (    |       |
|                     |       |       |       |        | PERC |       |
|                     |       |       |       |        | ENT) |       |
+---------------------+-------+-------+-------+--------+------+-------+
|                     | 2003  | Re    | 2004  | Es     | 2005 | For   |
|                     |       | vised |       | timate |      | ecast |
+---------------------+-------+-------+-------+--------+------+-------+
|                     | USDA  | Post  | USDA  | Post   | USDA | Post  |
|                     | Off   | Est   | Off   | Es     | Offi | Est   |
|                     | icial | imate | icial | timate | cial | imate |
|                     | \[    | \[    | \[    | \      | \[O  | \[    |
|                     | Old\] | New\] | Old\] | [New\] | ld\] | New\] |
+---------------------+-------+-------+-------+--------+------+-------+
| **Market Year       |       | 10    |       | 1      |      | 10    |
| Begin**             |       | /2003 |       | 0/2004 |      | /2005 |
+---------------------+-------+-------+-------+--------+------+-------+
| Crush               | 6800  | 7000  | 7250  | 8000   | 0    | 7950  |
+---------------------+-------+-------+-------+--------+------+-------+
| Extr. Rate,         | 0.3   | 0.3   | 0.3   | 0      | 0    | 0.3   |
| 999.9999            | 91176 | 92857 | 91724 | .39375 |      | 94968 |
+---------------------+-------+-------+-------+--------+------+-------+
| Beginning Stocks    | 0     | 0     | 0     | 0      | 0    | 0     |
+---------------------+-------+-------+-------+--------+------+-------+
| Production          | 2660  | 2750  | 2840  | 3150   | 0    | 3140  |
+---------------------+-------+-------+-------+--------+------+-------+
| MY Imports          | 75    | 75    | 5     | 0      | 0    | 0     |
+---------------------+-------+-------+-------+--------+------+-------+
| MY Imp. from U.S.   | 0     | 0     | 0     | 0      | 0    | 0     |
+---------------------+-------+-------+-------+--------+------+-------+
| MY Imp. from the EC | 0     | 0     | 0     | 0      | 0    | 0     |
+---------------------+-------+-------+-------+--------+------+-------+
| **TOTAL SUPPLY**    | **2   | **2   | **2   | **     | *    | **3   |
|                     | 735** | 825** | 845** | 3150** | *0** | 140** |
+---------------------+-------+-------+-------+--------+------+-------+
| MY Exports          | 2     | 2     | 20    | 20     | 0    | 15    |
+---------------------+-------+-------+-------+--------+------+-------+
| MY Exp. to the EC   | 0     | 0     | 0     | 0      | 0    | 0     |
+---------------------+-------+-------+-------+--------+------+-------+
| Industrial Dom.     | 0     | 0     | 0     | 0      | 0    | 0     |
| Consum              |       |       |       |        |      |       |
+---------------------+-------+-------+-------+--------+------+-------+
| Food Use Dom.       | 0     | 0     | 0     | 0      | 0    | 0     |
| Consump.            |       |       |       |        |      |       |
+---------------------+-------+-------+-------+--------+------+-------+
| Feed Waste Dom.     | 2733  | 2823  | 2825  | 3130   | 0    | 3125  |
| Consum              |       |       |       |        |      |       |
+---------------------+-------+-------+-------+--------+------+-------+
| TOTAL Dom.          | 2733  | 2823  | 2825  | 3130   | 0    | 3125  |
| Consumption         |       |       |       |        |      |       |
+---------------------+-------+-------+-------+--------+------+-------+
| Ending Stocks       | 0     | 0     | 0     | 0      | 0    | 0     |
+---------------------+-------+-------+-------+--------+------+-------+
| **TOTAL             | **2   | **2   | **2   | **     | *    | **3   |
| DISTRIBUTION**      | 735** | 825** | 845** | 3150** | *0** | 140** |
+---------------------+-------+-------+-------+--------+------+-------+
| Calendar Year       | 0     | 0     | 0     | 76     | 0    | 0     |
| Imports             |       |       |       |        |      |       |
+---------------------+-------+-------+-------+--------+------+-------+
| Calendar Yr Imp.    | 0     | 0     | 0     | 0      | 0    | 0     |
| U.S.                |       |       |       |        |      |       |
+---------------------+-------+-------+-------+--------+------+-------+
| Calendar Year       | 0     | 6     | 0     | 4      | 0    | 15    |
| Exports             |       |       |       |        |      |       |
+---------------------+-------+-------+-------+--------+------+-------+
| Calndr Yr Exp. to   | 0     | 0     | 0     | 0      | 0    | 0     |
| U.S.                |       |       |       |        |      |       |
+---------------------+-------+-------+-------+--------+------+-------+

### Table 12. Sunflower Seed Meal

+----------------------+-------+-------+-------+-------+------+-------+
| **PSD Table**        |       |       |       |       |      |       |
+----------------------+-------+-------+-------+-------+------+-------+
| **Country**          | **C   |       |       |       |      |       |
|                      | hina, |       |       |       |      |       |
|                      | Pe    |       |       |       |      |       |
|                      | oples |       |       |       |      |       |
|                      | Rep   |       |       |       |      |       |
|                      | ublic |       |       |       |      |       |
|                      | of**  |       |       |       |      |       |
+----------------------+-------+-------+-------+-------+------+-------+
| **Commodity**        | **    |       |       |       | (    |       |
|                      | Meal, |       |       |       | 1000 |       |
|                      | Sunf  |       |       |       | MT)  |       |
|                      | lower |       |       |       |      |       |
|                      | S     |       |       |       | (    |       |
|                      | eed** |       |       |       | PERC |       |
|                      |       |       |       |       | ENT) |       |
+----------------------+-------+-------+-------+-------+------+-------+
|                      | 2003  | Re    | 2004  | Est   | 2005 | For   |
|                      |       | vised |       | imate |      | ecast |
+----------------------+-------+-------+-------+-------+------+-------+
|                      | USDA  | Post  | USDA  | Post  | USDA | Post  |
|                      | Off   | Est   | Off   | Est   | Offi | Est   |
|                      | icial | imate | icial | imate | cial | imate |
|                      | \[    | \[    | \[    | \[    | \[O  | \[    |
|                      | Old\] | New\] | Old\] | New\] | ld\] | New\] |
+----------------------+-------+-------+-------+-------+------+-------+
| **Market Year        |       | 10    |       | 10    |      | 10    |
| Begin**              |       | /2003 |       | /2004 |      | /2005 |
+----------------------+-------+-------+-------+-------+------+-------+
| Crush                | 790   | 958   | 825   | 880   | 0    | 950   |
+----------------------+-------+-------+-------+-------+------+-------+
| Extr. Rate, 999.9999 | 0.5   | 0.5   | 0.5   | 0.5   | 0    | 0.5   |
|                      | 44303 | 42797 | 40606 | 45454 |      | 42105 |
+----------------------+-------+-------+-------+-------+------+-------+
| Beginning Stocks     | 0     | 0     | 0     | 0     | 0    | 0     |
+----------------------+-------+-------+-------+-------+------+-------+
| Production           | 430   | 520   | 446   | 480   | 0    | 515   |
+----------------------+-------+-------+-------+-------+------+-------+
| MY Imports           | 14    | 0     | 7     | 0     | 0    | 0     |
+----------------------+-------+-------+-------+-------+------+-------+
| MY Imp. from U.S.    | 0     | 0     | 0     | 0     | 0    | 0     |
+----------------------+-------+-------+-------+-------+------+-------+
| MY Imp. from the EC  | 0     | 0     | 0     | 0     | 0    | 0     |
+----------------------+-------+-------+-------+-------+------+-------+
| **TOTAL SUPPLY**     | **    | **    | **    | **    | *    | **    |
|                      | 444** | 520** | 453** | 480** | *0** | 515** |
+----------------------+-------+-------+-------+-------+------+-------+
| MY Exports           | 0     | 0     | 0     | 0     | 0    | 0     |
+----------------------+-------+-------+-------+-------+------+-------+
| MY Exp. to the EC    | 0     | 0     | 0     | 0     | 0    | 0     |
+----------------------+-------+-------+-------+-------+------+-------+
| Industrial Dom.      | 80    | 80    | 80    | 80    | 0    | 80    |
| Consum               |       |       |       |       |      |       |
+----------------------+-------+-------+-------+-------+------+-------+
| Food Use Dom.        | 0     | 0     | 0     | 0     | 0    | 0     |
| Consump.             |       |       |       |       |      |       |
+----------------------+-------+-------+-------+-------+------+-------+
| Feed Waste Dom.      | 364   | 440   | 373   | 400   | 0    | 435   |
| Consum               |       |       |       |       |      |       |
+----------------------+-------+-------+-------+-------+------+-------+
| TOTAL Dom.           | 444   | 520   | 453   | 480   | 0    | 515   |
| Consumption          |       |       |       |       |      |       |
+----------------------+-------+-------+-------+-------+------+-------+
| Ending Stocks        | 0     | 0     | 0     | 0     | 0    | 0     |
+----------------------+-------+-------+-------+-------+------+-------+
| **TOTAL              | **    | **    | **    | **    | *    | **    |
| DISTRIBUTION**       | 444** | 520** | 453** | 480** | *0** | 515** |
+----------------------+-------+-------+-------+-------+------+-------+
| Calendar Year        | 0     | 0     | 0     | 0     | 0    | 0     |
| 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.                 |       |       |       |       |      |       |
+----------------------+-------+-------+-------+-------+------+-------+

### Table 13. Cotton Seed Meal

## 

+----------------------+------+-------+------+-------+------+------+
| **PSD Table**        |      |       |      |       |      |      |
+----------------------+------+-------+------+-------+------+------+
| **Country**          | **Ch |       |      |       |      |      |
|                      | ina, |       |      |       |      |      |
|                      | Peo  |       |      |       |      |      |
|                      | ples |       |      |       |      |      |
|                      | Repu |       |      |       |      |      |
|                      | blic |       |      |       |      |      |
|                      | of** |       |      |       |      |      |
+----------------------+------+-------+------+-------+------+------+
| **Commodity**        | **M  |       |      |       | (    |      |
|                      | eal, |       |      |       | 1000 |      |
|                      | Cott |       |      |       | MT)  |      |
|                      | onse |       |      |       |      |      |
|                      | ed** |       |      |       | (    |      |
|                      |      |       |      |       | PERC |      |
|                      |      |       |      |       | ENT) |      |
+----------------------+------+-------+------+-------+------+------+
|                      | 2003 | Re    | 2004 | Est   | 2005 | Fore |
|                      |      | vised |      | imate |      | cast |
+----------------------+------+-------+------+-------+------+------+
|                      | USDA | Post  | USDA | Post  | USDA | Post |
|                      | Offi | Est   | Offi | Est   | Offi | Esti |
|                      | cial | imate | cial | imate | cial | mate |
|                      | \[O  | \[    | \[O  | \[    | \[O  | \[N  |
|                      | ld\] | New\] | ld\] | New\] | ld\] | ew\] |
+----------------------+------+-------+------+-------+------+------+
| **Market Year        |      | 10    |      | 10    |      | 10/  |
| Begin**              |      | /2003 |      | /2004 |      | 2005 |
+----------------------+------+-------+------+-------+------+------+
| Crush                | 6900 | 7368  | 8750 | 10050 | 0    | 9000 |
+----------------------+------+-------+------+-------+------+------+
| Extr. Rate, 999.9999 | 0.43 | 0.42  | 0.42 | 0.42  | 0    | 0.42 |
|                      | 8405 | 07383 | 8571 | 28855 |      | 2222 |
+----------------------+------+-------+------+-------+------+------+
| Beginning Stocks     | 0    | 0     | 0    | 0     | 0    | 0    |
+----------------------+------+-------+------+-------+------+------+
| Production           | 3025 | 3100  | 3750 | 4250  | 0    | 3800 |
+----------------------+------+-------+------+-------+------+------+
| MY Imports           | 12   | 0     | 3    | 1     | 0    | 1    |
+----------------------+------+-------+------+-------+------+------+
| MY Imp. from U.S.    | 0    | 0     | 0    | 0     | 0    | 0    |
+----------------------+------+-------+------+-------+------+------+
| MY Imp. from the EC  | 0    | 0     | 0    | 0     | 0    | 0    |
+----------------------+------+-------+------+-------+------+------+
| **TOTAL SUPPLY**     | **30 | **3   | **37 | **4   | *    | **38 |
|                      | 37** | 100** | 53** | 251** | *0** | 01** |
+----------------------+------+-------+------+-------+------+------+
| MY Exports           | 48   | 48    | 175  | 150   | 0    | 90   |
+----------------------+------+-------+------+-------+------+------+
| MY Exp. to the EC    | 0    | 0     | 0    | 0     | 0    | 0    |
+----------------------+------+-------+------+-------+------+------+
| Industrial Dom.      | 120  | 120   | 140  | 140   | 0    | 145  |
| Consum               |      |       |      |       |      |      |
+----------------------+------+-------+------+-------+------+------+
| Food Use Dom.        | 0    | 0     | 0    | 0     | 0    | 0    |
| Consump.             |      |       |      |       |      |      |
+----------------------+------+-------+------+-------+------+------+
| Feed Waste Dom.      | 2869 | 2932  | 3438 | 3961  | 0    | 3566 |
| Consum               |      |       |      |       |      |      |
+----------------------+------+-------+------+-------+------+------+
| TOTAL Dom.           | 2989 | 3052  | 3578 | 4101  | 0    | 3711 |
| Consumption          |      |       |      |       |      |      |
+----------------------+------+-------+------+-------+------+------+
| Ending Stocks        | 0    | 0     | 0    | 0     | 0    | 0    |
+----------------------+------+-------+------+-------+------+------+
| **TOTAL              | **30 | **3   | **37 | **4   | *    | **38 |
| DISTRIBUTION**       | 37** | 100** | 53** | 251** | *0** | 01** |
+----------------------+------+-------+------+-------+------+------+
| Calendar Year        | 0    | 0     | 0    | 0     | 0    | 0    |
| 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.                 |      |       |      |       |      |      |
+----------------------+------+-------+------+-------+------+------+

##  

### Table 14. Fish Meal 

## 

+------------------------+------+-------+------+-------+------+-------+
| **PSD Table**          |      |       |      |       |      |       |
+------------------------+------+-------+------+-------+------+-------+
| **Country**            | **Ch |       |      |       |      |       |
|                        | ina, |       |      |       |      |       |
|                        | Peo  |       |      |       |      |       |
|                        | ples |       |      |       |      |       |
|                        | Repu |       |      |       |      |       |
|                        | blic |       |      |       |      |       |
|                        | of** |       |      |       |      |       |
+------------------------+------+-------+------+-------+------+-------+
| **Commodity**          | **M  |       |      |       | (    |       |
|                        | eal, |       |      |       | 1000 |       |
|                        | Fi   |       |      |       | MT)  |       |
|                        | sh** |       |      |       |      |       |
|                        |      |       |      |       | (    |       |
|                        |      |       |      |       | PERC |       |
|                        |      |       |      |       | ENT) |       |
+------------------------+------+-------+------+-------+------+-------+
|                        | 2003 | Re    | 2004 | Est   | 2005 | For   |
|                        |      | vised |      | imate |      | ecast |
+------------------------+------+-------+------+-------+------+-------+
|                        | USDA | Post  | USDA | Post  | USDA | Post  |
|                        | Offi | Est   | Offi | Est   | Offi | Est   |
|                        | cial | imate | cial | imate | cial | imate |
|                        | \[O  | \[    | \[O  | \[    | \[O  | \[    |
|                        | ld\] | New\] | ld\] | New\] | ld\] | New\] |
+------------------------+------+-------+------+-------+------+-------+
| **Market Year Begin**  |      | 01    |      | 01    |      | 01    |
|                        |      | /2004 |      | /2005 |      | /2006 |
+------------------------+------+-------+------+-------+------+-------+
| Catch For Reduction    | 0    | 0     | 0    | 0     | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+
| Extr. Rate, 999.9999   | 0    | 0     | 0    | 0     | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+
| Beginning Stocks       | 0    | 0     | 0    | 0     | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+
| Production             | 400  | 350   | 380  | 350   | 0    | 360   |
+------------------------+------+-------+------+-------+------+-------+
| MY Imports             | 1128 | 1123  | 870  | 1000  | 0    | 1100  |
+------------------------+------+-------+------+-------+------+-------+
| MY Imp. from U.S.      | 73   | 75    | 0    | 75    | 0    | 80    |
+------------------------+------+-------+------+-------+------+-------+
| MY Imp. from the EC    | 0    | 0     | 0    | 0     | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+
| **TOTAL SUPPLY**       | **15 | **1   | **12 | **1   | *    | **1   |
|                        | 28** | 473** | 50** | 350** | *0** | 460** |
+------------------------+------+-------+------+-------+------+-------+
| MY Exports             | 7    | 7     | 5    | 7     | 0    | 7     |
+------------------------+------+-------+------+-------+------+-------+
| MY Exp. to the EC      | 0    | 0     | 0    | 0     | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+
| Industrial Dom. Consum | 0    | 0     | 0    | 0     | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+
| Food Use Dom. Consump. | 0    | 0     | 0    | 0     | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+
| Feed Waste Dom. Consum | 1521 | 1466  | 1245 | 1343  | 0    | 1453  |
+------------------------+------+-------+------+-------+------+-------+
| TOTAL Dom. Consumption | 1521 | 1466  | 1245 | 1343  | 0    | 1453  |
+------------------------+------+-------+------+-------+------+-------+
| Ending Stocks          | 0    | 0     | 0    | 0     | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+
| **TOTAL DISTRIBUTION** | **15 | **1   | **12 | **1   | *    | **1   |
|                        | 28** | 473** | 50** | 350** | *0** | 460** |
+------------------------+------+-------+------+-------+------+-------+
| Calendar Year Imports  | 0    | 820   | 0    | 800   | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+
| Calendar Yr Imp. U.S.  | 0    | 75    | 0    | 75    | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+
| Calendar Year Exports  | 0    | 3     | 0    | 2     | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+
| Calndr Yr Exp. to U.S. | 0    | 0     | 0    | 0     | 0    | 0     |
+------------------------+------+-------+------+-------+------+-------+

##  

## Oils Tables

### Table 15. Soybean Oil

+---------------------+-------+-------+-------+--------+-------+-------+
| **PSD Table**       |       |       |       |        |       |       |
+---------------------+-------+-------+-------+--------+-------+-------+
| **Country**         | **C   |       |       |        |       |       |
|                     | hina, |       |       |        |       |       |
|                     | Pe    |       |       |        |       |       |
|                     | oples |       |       |        |       |       |
|                     | Rep   |       |       |        |       |       |
|                     | ublic |       |       |        |       |       |
|                     | of**  |       |       |        |       |       |
+---------------------+-------+-------+-------+--------+-------+-------+
| **Commodity**       | *     |       |       |        | (1000 |       |
|                     | *Oil, |       |       |        | MT)   |       |
|                     | Soyb  |       |       |        |       |       |
|                     | ean** |       |       |        | (PER  |       |
|                     |       |       |       |        | CENT) |       |
+---------------------+-------+-------+-------+--------+-------+-------+
|                     | 2003  | Re    | 2004  | Es     | 2005  | For   |
|                     |       | vised |       | timate |       | ecast |
+---------------------+-------+-------+-------+--------+-------+-------+
|                     | USDA  | Post  | USDA  | Post   | USDA  | Post  |
|                     | Off   | Est   | Off   | Es     | Off   | Est   |
|                     | icial | imate | icial | timate | icial | imate |
|                     | \[    | \[    | \[    | \      | \[    | \[    |
|                     | Old\] | New\] | Old\] | [New\] | Old\] | New\] |
+---------------------+-------+-------+-------+--------+-------+-------+
| **Market Year       |       | 10    |       | 1      |       | 10    |
| Begin**             |       | /2003 |       | 0/2004 |       | /2005 |
+---------------------+-------+-------+-------+--------+-------+-------+
| Crush               | 25439 | 25269 | 28750 | 27300  | 0     | 29250 |
+---------------------+-------+-------+-------+--------+-------+-------+
| Extr. Rate,         | 0.    | 0.1   | 0.1   | 0.     | 0     | 0.1   |
| 999.9999            | 17826 | 78004 | 78086 | 178754 |       | 78290 |
+---------------------+-------+-------+-------+--------+-------+-------+
| Beginning Stocks    | 250   | 250   | 325   | 400    | 250   | 200   |
+---------------------+-------+-------+-------+--------+-------+-------+
| Production          | 4535  | 4498  | 5120  | 4880   | 0     | 5215  |
+---------------------+-------+-------+-------+--------+-------+-------+
| MY Imports          | 2729  | 2729  | 2420  | 2000   | 0     | 2700  |
+---------------------+-------+-------+-------+--------+-------+-------+
| MY Imp. from U.S.   | 0     | 0     | 0     | 5      | 0     | 5     |
+---------------------+-------+-------+-------+--------+-------+-------+
| MY Imp. from the EC | 0     | 0     | 0     | 0      | 0     | 0     |
+---------------------+-------+-------+-------+--------+-------+-------+
| **TOTAL SUPPLY**    | **7   | **7   | **7   | **     | **    | **8   |
|                     | 514** | 477** | 865** | 7280** | 250** | 115** |
+---------------------+-------+-------+-------+--------+-------+-------+
| MY Exports          | 15    | 15    | 20    | 20     | 0     | 25    |
+---------------------+-------+-------+-------+--------+-------+-------+
| MY Exp. to the EC   | 0     | 0     | 0     | 0      | 0     | 0     |
+---------------------+-------+-------+-------+--------+-------+-------+
| Industrial Dom.     | 0     | 0     | 0     | 0      | 0     | 0     |
| Consum              |       |       |       |        |       |       |
+---------------------+-------+-------+-------+--------+-------+-------+
| Food Use Dom.       | 7174  | 7062  | 7595  | 7060   | 0     | 7850  |
| Consump.            |       |       |       |        |       |       |
+---------------------+-------+-------+-------+--------+-------+-------+
| Feed Waste Dom.     | 0     | 0     | 0     | 0      | 0     | 0     |
| Consum              |       |       |       |        |       |       |
+---------------------+-------+-------+-------+--------+-------+-------+
| TOTAL Dom.          | 7174  | 7062  | 7595  | 7060   | 0     | 7850  |
| Consumption         |       |       |       |        |       |       |
+---------------------+-------+-------+-------+--------+-------+-------+
| Ending Stocks       | 325   | 400   | 250   | 200    | 0     | 240   |
+---------------------+-------+-------+-------+--------+-------+-------+
| TOTAL DISTRIBUTION  | 7514  | 7477  | 7865  | 7280   | 0     | 8115  |
+---------------------+-------+-------+-------+--------+-------+-------+
| Calendar Year       | 1200  | 1885  | 0     | 2000   | 0     | 2000  |
| Imports             |       |       |       |        |       |       |
+---------------------+-------+-------+-------+--------+-------+-------+
| Calendar Yr Imp.    | 400   | 95    | 0     | 10     | 0     | 5     |
| U.S.                |       |       |       |        |       |       |
+---------------------+-------+-------+-------+--------+-------+-------+
| Calendar Year       | 50    | 11    | 0     | 30     | 0     | 0     |
| Exports             |       |       |       |        |       |       |
+---------------------+-------+-------+-------+--------+-------+-------+
| Calndr Yr Exp. to   | 0     | 0     | 0     | 0      | 0     | 0     |
| U.S.                |       |       |       |        |       |       |
+---------------------+-------+-------+-------+--------+-------+-------+

### Table 16. Rapeseed Oil

+-----------------------+-------+-------+------+-------+------+-------+
| **PSD Table**         |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| **Country**           | **C   |       |      |       |      |       |
|                       | hina, |       |      |       |      |       |
|                       | Pe    |       |      |       |      |       |
|                       | oples |       |      |       |      |       |
|                       | Rep   |       |      |       |      |       |
|                       | ublic |       |      |       |      |       |
|                       | of**  |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| **Commodity**         | *     |       |      |       | (    |       |
|                       | *Oil, |       |      |       | 1000 |       |
|                       | Rapes |       |      |       | MT)  |       |
|                       | eed** |       |      |       |      |       |
|                       |       |       |      |       | (    |       |
|                       |       |       |      |       | PERC |       |
|                       |       |       |      |       | ENT) |       |
+-----------------------+-------+-------+------+-------+------+-------+
|                       | 2003  | Re    | 2004 | Est   | 2005 | For   |
|                       |       | vised |      | imate |      | ecast |
+-----------------------+-------+-------+------+-------+------+-------+
|                       | USDA  | Post  | USDA | Post  | USDA | Post  |
|                       | Off   | Est   | Offi | Est   | Offi | Est   |
|                       | icial | imate | cial | imate | cial | imate |
|                       | \[    | \[    | \[O  | \[    | \[O  | \[    |
|                       | Old\] | New\] | ld\] | New\] | ld\] | New\] |
+-----------------------+-------+-------+------+-------+------+-------+
| **Market Year Begin** |       | 10    |      | 10    |      | 10    |
|                       |       | /2003 |      | /2004 |      | /2005 |
+-----------------------+-------+-------+------+-------+------+-------+
| Crush                 | 11248 | 11238 | 1    | 12628 | 0    | 12095 |
|                       |       |       | 2275 |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| Extr. Rate, 999.9999  | 0.3   | 0.3   | 0.3  | 0.3   | 0    | 0.3   |
|                       | 55618 | 55045 | 5437 | 51599 |      | 56345 |
+-----------------------+-------+-------+------+-------+------+-------+
| Beginning Stocks      | 0     | 0     | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| Production            | 4000  | 3990  | 4350 | 4440  | 0    | 4310  |
+-----------------------+-------+-------+------+-------+------+-------+
| MY Imports            | 368   | 358   | 415  | 250   | 0    | 350   |
+-----------------------+-------+-------+------+-------+------+-------+
| MY Imp. from U.S.     | 0     | 0     | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| MY Imp. from the EC   | 40    | 40    | 0    | 40    | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| **TOTAL SUPPLY**      | **4   | **4   | **47 | **4   | *    | **4   |
|                       | 368** | 348** | 65** | 690** | *0** | 660** |
+-----------------------+-------+-------+------+-------+------+-------+
| MY Exports            | 5     | 5     | 5    | 6     | 0    | 10    |
+-----------------------+-------+-------+------+-------+------+-------+
| MY Exp. to the EC     | 0     | 0     | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| Industrial Dom.       | 0     | 0     | 0    | 0     | 0    | 0     |
| Consum                |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| Food Use Dom.         | 4363  | 4343  | 4760 | 4684  | 0    | 4650  |
| Consump.              |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| Feed Waste Dom.       | 0     | 0     | 0    | 0     | 0    | 0     |
| Consum                |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| TOTAL Dom.            | 4363  | 4343  | 4760 | 4684  | 0    | 4650  |
| Consumption           |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| Ending Stocks         | 0     | 0     | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| **TOTAL               | **4   | **4   | **47 | **4   | *    | **4   |
| DISTRIBUTION**        | 368** | 348** | 65** | 690** | *0** | 660** |
+-----------------------+-------+-------+------+-------+------+-------+
| Calendar Year Imports | 300   | 152   | 225  | 353   | 0    | 360   |
+-----------------------+-------+-------+------+-------+------+-------+
| Calendar Yr Imp. U.S. | 0     | 0     | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| Calendar Year Exports | 5     | 5     | 10   | 5     | 0    | 10    |
+-----------------------+-------+-------+------+-------+------+-------+
| Calndr Yr Exp. to     | 0     | 0     | 0    | 0     | 0    | 0     |
| U.S.                  |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+

### Table 17. Peanut Oil

+-----------------------+-------+-------+------+-------+------+-------+
| ###### PSD Table      |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| **Country**           | **C   |       |      |       |      |       |
|                       | hina, |       |      |       |      |       |
|                       | Pe    |       |      |       |      |       |
|                       | oples |       |      |       |      |       |
|                       | Rep   |       |      |       |      |       |
|                       | ublic |       |      |       |      |       |
|                       | of**  |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| **Commodity**         | *     |       |      |       | (    |       |
|                       | *Oil, |       |      |       | 1000 |       |
|                       | Pea   |       |      |       | MT)  |       |
|                       | nut** |       |      |       |      |       |
|                       |       |       |      |       | (    |       |
|                       |       |       |      |       | PERC |       |
|                       |       |       |      |       | ENT) |       |
+-----------------------+-------+-------+------+-------+------+-------+
|                       | 2003  | Re    | 2004 | Est   | 2005 | For   |
|                       |       | vised |      | imate |      | ecast |
+-----------------------+-------+-------+------+-------+------+-------+
|                       | USDA  | Post  | USDA | Post  | USDA | Post  |
|                       | Off   | Est   | Offi | Est   | Offi | Est   |
|                       | icial | imate | cial | imate | cial | imate |
|                       | \[    | \[    | \[O  | \[    | \[O  | \[    |
|                       | Old\] | New\] | ld\] | New\] | ld\] | New\] |
+-----------------------+-------+-------+------+-------+------+-------+
| **Market Year Begin** |       | 10    |      | 10    |      | 10    |
|                       |       | /2003 |      | /2004 |      | /2005 |
+-----------------------+-------+-------+------+-------+------+-------+
| Crush                 | 6800  | 7000  | 7250 | 8000  | 0    | 7950  |
+-----------------------+-------+-------+------+-------+------+-------+
| Extr. Rate, 999.9999  | 0.3   | 0.3   | 0.3  | 0.3   | 0    | 0.3   |
|                       | 11764 | 14285 | 1310 | 15625 |      | 15723 |
+-----------------------+-------+-------+------+-------+------+-------+
| Beginning Stocks      | 0     | 0     | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| Production            | 2120  | 2200  | 2270 | 2525  | 0    | 2510  |
+-----------------------+-------+-------+------+-------+------+-------+
| MY Imports            | 5     | 5     | 4    | 2     | 0    | 2     |
+-----------------------+-------+-------+------+-------+------+-------+
| MY Imp. from U.S.     | 0     | 0     | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| MY Imp. from the EC   | 0     | 0     | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| **TOTAL SUPPLY**      | **2   | **2   | **22 | **2   | *    | **2   |
|                       | 125** | 205** | 74** | 527** | *0** | 512** |
+-----------------------+-------+-------+------+-------+------+-------+
| MY Exports            | 25    | 25    | 27   | 25    | 0    | 20    |
+-----------------------+-------+-------+------+-------+------+-------+
| MY Exp. to the EC     | 0     | 15    | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| Industrial Dom.       | 0     | 0     | 0    | 0     | 0    | 0     |
| Consum                |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| Food Use Dom.         | 2100  | 2180  | 2247 | 2502  | 0    | 2492  |
| Consump.              |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| Feed Waste Dom.       | 0     | 0     | 0    | 0     | 0    | 0     |
| Consum                |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| TOTAL Dom.            | 2100  | 2180  | 2247 | 2502  | 0    | 2492  |
| Consumption           |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+
| Ending Stocks         | 0     | 0     | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| **TOTAL               | **2   | **2   | **22 | **2   | *    | **2   |
| DISTRIBUTION**        | 125** | 205** | 74** | 527** | *0** | 512** |
+-----------------------+-------+-------+------+-------+------+-------+
| Calendar Year Imports | 0     | 7     | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| Calendar Yr Imp. U.S. | 0     | 0     | 0    | 0     | 0    | 0     |
+-----------------------+-------+-------+------+-------+------+-------+
| Calendar Year Exports | 0     | 25    | 0    | 14    | 0    | 18    |
+-----------------------+-------+-------+------+-------+------+-------+
| Calndr Yr Exp. to     | 0     | 0     | 0    | 0     | 0    | 0     |
| U.S.                  |       |       |      |       |      |       |
+-----------------------+-------+-------+------+-------+------+-------+

### Table 18. Palm Oil 

+----------------------+------+--------+-------+-------+------+-------+
| ###### PSD Table     |      |        |       |       |      |       |
+----------------------+------+--------+-------+-------+------+-------+
| **Country**          | **Ch |        |       |       |      |       |
|                      | ina, |        |       |       |      |       |
|                      | Peo  |        |       |       |      |       |
|                      | ples |        |       |       |      |       |
|                      | Repu |        |       |       |      |       |
|                      | blic |        |       |       |      |       |
|                      | of** |        |       |       |      |       |
+----------------------+------+--------+-------+-------+------+-------+
| **Commodity**        | **   |        |       |       | (    |       |
|                      | Oil, |        |       |       | 1000 |       |
|                      | Pa   |        |       |       | HA)( |       |
|                      | lm** |        |       |       | 1000 |       |
|                      |      |        |       |       | TRE  |       |
|                      |      |        |       |       | ES)( |       |
|                      |      |        |       |       | 1000 |       |
|                      |      |        |       |       | MT)  |       |
+----------------------+------+--------+-------+-------+------+-------+
|                      | 2003 | R      | 2004  | Est   | 2005 | For   |
|                      |      | evised |       | imate |      | ecast |
+----------------------+------+--------+-------+-------+------+-------+
|                      | USDA | Post   | USDA  | Post  | USDA | Post  |
|                      | Offi | Es     | Off   | Est   | Offi | Est   |
|                      | cial | timate | icial | imate | cial | imate |
|                      | \[O  | \      | \[    | \[    | \[O  | \[    |
|                      | ld\] | [New\] | Old\] | New\] | ld\] | New\] |
+----------------------+------+--------+-------+-------+------+-------+
| **Market Year        |      | 1      |       | 10    |      | 10    |
| Begin**              |      | 0/2003 |       | /2004 |      | /2005 |
+----------------------+------+--------+-------+-------+------+-------+
| Area Planted         | 0    | 0      | 0     | 0     | 0    | 0     |
+----------------------+------+--------+-------+-------+------+-------+
| Area Harvested       | 0    | 0      | 0     | 0     | 0    | 0     |
+----------------------+------+--------+-------+-------+------+-------+
| Trees                | 0    | 0      | 0     | 0     | 0    | 0     |
+----------------------+------+--------+-------+-------+------+-------+
| Beginning Stocks     | 0    | 0      | 0     | 0     | 0    | 0     |
+----------------------+------+--------+-------+-------+------+-------+
| Production           | 0    | 0      | 0     | 0     | 0    | 0     |
+----------------------+------+--------+-------+-------+------+-------+
| MY Imports           | 3710 | 3720   | 4060  | 3800  | 0    | 4200  |
+----------------------+------+--------+-------+-------+------+-------+
| MY Imp. from U.S.    | 0    | 0      | 0     | 0     | 0    | 0     |
+----------------------+------+--------+-------+-------+------+-------+
| MY Imp. from the EC  | 0    | 0      | 0     | 0     | 0    | 0     |
+----------------------+------+--------+-------+-------+------+-------+
| **TOTAL SUPPLY**     | **37 | **     | **4   | **3   | *    | **4   |
|                      | 10** | 3720** | 060** | 800** | *0** | 200** |
+----------------------+------+--------+-------+-------+------+-------+
| MY Exports           | 0    | 0      | 0     | 0     | 0    | 0     |
+----------------------+------+--------+-------+-------+------+-------+
| MY Exp. to the EC    | 0    | 0      | 0     | 0     | 0    | 0     |
+----------------------+------+--------+-------+-------+------+-------+
| Industrial Dom.      | 0    | 300    | 0     | 350   | 0    | 350   |
| Consum               |      |        |       |       |      |       |
+----------------------+------+--------+-------+-------+------+-------+
| Food Use Dom.        | 3710 | 3420   | 4060  | 3450  | 0    | 3850  |
| Consump.             |      |        |       |       |      |       |
+----------------------+------+--------+-------+-------+------+-------+
| Feed Waste           | 0    | 0      | 0     | 0     | 0    | 0     |
| Consumption          |      |        |       |       |      |       |
+----------------------+------+--------+-------+-------+------+-------+
| TOTAL Dom.           | 3710 | 3720   | 4060  | 3800  | 0    | 4200  |
| Consumption          |      |        |       |       |      |       |
+----------------------+------+--------+-------+-------+------+-------+
| Ending Stocks        | 0    | 0      | 0     | 0     | 0    | 0     |
+----------------------+------+--------+-------+-------+------+-------+
| **TOTAL              | **37 | **     | **4   | **3   | *    | **4   |
| DISTRIBUTION**       | 10** | 3720** | 060** | 800** | *0** | 200** |
+----------------------+------+--------+-------+-------+------+-------+
| Calendar Year        | 0    | 3326   | 0     | 3500  | 0    | 0     |
| 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.                 |      |        |       |       |      |       |
+----------------------+------+--------+-------+-------+------+-------+

### Table 19. Sunflower Seed Oil

## 

+------------------------+------+-------+------+-------+-----+--------+
| ###### PSD Table       |      |       |      |       |     |        |
+------------------------+------+-------+------+-------+-----+--------+
| **Country**            | **Ch |       |      |       |     |        |
|                        | ina, |       |      |       |     |        |
|                        | Peo  |       |      |       |     |        |
|                        | ples |       |      |       |     |        |
|                        | Repu |       |      |       |     |        |
|                        | blic |       |      |       |     |        |
|                        | of** |       |      |       |     |        |
+------------------------+------+-------+------+-------+-----+--------+
| **Commodity**          | **   |       |      |       | (1  |        |
|                        | Oil, |       |      |       | 000 |        |
|                        | S    |       |      |       | MT) |        |
|                        | unfl |       |      |       |     |        |
|                        | ower |       |      |       | (PE |        |
|                        | Se   |       |      |       | RCE |        |
|                        | ed** |       |      |       | NT) |        |
+------------------------+------+-------+------+-------+-----+--------+
|                        | 2003 | Re    | 2004 | Est   | 2   | Fo     |
|                        |      | vised |      | imate | 005 | recast |
+------------------------+------+-------+------+-------+-----+--------+
|                        | USDA | Post  | USDA | Post  | U   | Post   |
|                        | Offi | Est   | Offi | Est   | SDA | Es     |
|                        | cial | imate | cial | imate | Of  | timate |
|                        | \[O  | \[    | \[O  | \[    | fic | \      |
|                        | ld\] | New\] | ld\] | New\] | ial | [New\] |
|                        |      |       |      |       | \   |        |
|                        |      |       |      |       | [Ol |        |
|                        |      |       |      |       | d\] |        |
+------------------------+------+-------+------+-------+-----+--------+
| **Market Year Begin**  |      | 10    |      | 10    |     | 1      |
|                        |      | /2003 |      | /2004 |     | 0/2005 |
+------------------------+------+-------+------+-------+-----+--------+
| Crush                  | 790  | 958   | 825  | 880   | 0   | 950    |
+------------------------+------+-------+------+-------+-----+--------+
| Extr. Rate, 999.9999   | 0    | 0.35  | 0    | 0.35  | 0   | 0.3    |
|                        | .354 | 49060 | .353 | 45454 |     | 526315 |
|                        | 4303 |       | 9393 |       |     |        |
+------------------------+------+-------+------+-------+-----+--------+
| Beginning Stocks       | 0    | 0     | 0    | 0     | 0   | 0      |
+------------------------+------+-------+------+-------+-----+--------+
| Production             | 280  | 340   | 292  | 312   | 0   | 335    |
+------------------------+------+-------+------+-------+-----+--------+
| MY Imports             | 49   | 49    | 35   | 40    | 0   | 50     |
+------------------------+------+-------+------+-------+-----+--------+
| MY Imp. from U.S.      | 0    | 0     | 0    | 0     | 0   | 0      |
+------------------------+------+-------+------+-------+-----+--------+
| MY Imp. from the EC    | 0    | 0     | 0    | 0     | 0   | 0      |
+------------------------+------+-------+------+-------+-----+--------+
| **TOTAL SUPPLY**       | **3  | **    | **3  | **    | **  | *      |
|                        | 29** | 389** | 27** | 352** | 0** | *385** |
+------------------------+------+-------+------+-------+-----+--------+
| MY Exports             | 0    | 0     | 0    | 0     | 0   | 0      |
+------------------------+------+-------+------+-------+-----+--------+
| MY Exp. to the EC      | 0    | 0     | 0    | 0     | 0   | 0      |
+------------------------+------+-------+------+-------+-----+--------+
| Industrial Dom. Consum | 0    | 0     | 0    | 0     | 0   | 0      |
+------------------------+------+-------+------+-------+-----+--------+
| Food Use Dom. Consump. | 329  | 389   | 327  | 352   | 0   | 385    |
+------------------------+------+-------+------+-------+-----+--------+
| Feed Waste Dom. Consum | 0    | 0     | 0    | 0     | 0   | 0      |
+------------------------+------+-------+------+-------+-----+--------+
| TOTAL Dom. Consumption | 329  | 389   | 327  | 352   | 0   | 385    |
+------------------------+------+-------+------+-------+-----+--------+
| Ending Stocks          | 0    | 0     | 0    | 0     | 0   | 0      |
+------------------------+------+-------+------+-------+-----+--------+
| **TOTAL DISTRIBUTION** | **3  | **    | **3  | **    | **  | *      |
|                        | 29** | 389** | 27** | 352** | 0** | *385** |
+------------------------+------+-------+------+-------+-----+--------+
| Calendar Year Imports  | 0    | 36    | 0    | 23    | 0   | 40     |
+------------------------+------+-------+------+-------+-----+--------+
| Calendar Yr Imp. U.S.  | 0    | 0     | 0    | 0     | 0   | 0      |
+------------------------+------+-------+------+-------+-----+--------+
| Calendar Year Exports  | 0    | 0     | 0    | 0     | 0   | 0      |
+------------------------+------+-------+------+-------+-----+--------+
| Calndr Yr Exp. to U.S. | 0    | 0     | 0    | 0     | 0   | 0      |
+------------------------+------+-------+------+-------+-----+--------+

### Table 20. Cottonseed Oil

## 

+-------------------------+------+-------+------+-------+-----+-------+
| **PSD Table**           |      |       |      |       |     |       |
+-------------------------+------+-------+------+-------+-----+-------+
| **Country**             | **Ch |       |      |       |     |       |
|                         | ina, |       |      |       |     |       |
|                         | Peo  |       |      |       |     |       |
|                         | ples |       |      |       |     |       |
|                         | Repu |       |      |       |     |       |
|                         | blic |       |      |       |     |       |
|                         | of** |       |      |       |     |       |
+-------------------------+------+-------+------+-------+-----+-------+
| **Commodity**           | **   |       |      |       | (1  |       |
|                         | Oil, |       |      |       | 000 |       |
|                         | Cott |       |      |       | MT) |       |
|                         | onse |       |      |       |     |       |
|                         | ed** |       |      |       | (PE |       |
|                         |      |       |      |       | RCE |       |
|                         |      |       |      |       | NT) |       |
+-------------------------+------+-------+------+-------+-----+-------+
|                         | 2003 | Re    | 2004 | Est   | 2   | For   |
|                         |      | vised |      | imate | 005 | ecast |
+-------------------------+------+-------+------+-------+-----+-------+
|                         | USDA | Post  | USDA | Post  | U   | Post  |
|                         | Offi | Est   | Offi | Est   | SDA | Est   |
|                         | cial | imate | cial | imate | Of  | imate |
|                         | \[O  | \[    | \[O  | \[    | fic | \[    |
|                         | ld\] | New\] | ld\] | New\] | ial | New\] |
|                         |      |       |      |       | \   |       |
|                         |      |       |      |       | [Ol |       |
|                         |      |       |      |       | d\] |       |
+-------------------------+------+-------+------+-------+-----+-------+
| **Market Year Begin**   |      | 10    |      | 10    |     | 10    |
|                         |      | /2003 |      | /2004 |     | /2005 |
+-------------------------+------+-------+------+-------+-----+-------+
| Crush                   | 6900 | 7368  | 8750 | 10050 | 0   | 9000  |
+-------------------------+------+-------+------+-------+-----+-------+
| Extr. Rate, 999.9999    | 0.1  | 0.1   | 0.1  | 0.1   | 0   | 0.1   |
|                         | 4565 | 49294 | 4228 | 49253 |     | 48888 |
+-------------------------+------+-------+------+-------+-----+-------+
| Beginning Stocks        | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+
| Production              | 1005 | 1100  | 1245 | 1500  | 0   | 1340  |
+-------------------------+------+-------+------+-------+-----+-------+
| MY Imports              | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+
| MY Imp. from U.S.       | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+
| MY Imp. from the EC     | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+
| **TOTAL SUPPLY**        | **10 | **1   | **12 | **1   | **  | **1   |
|                         | 05** | 100** | 45** | 500** | 0** | 340** |
+-------------------------+------+-------+------+-------+-----+-------+
| MY Exports              | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+
| MY Exp. to the EC       | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+
| Industrial Dom. Consum  | 0    | 100   | 0    | 120   | 0   | 120   |
+-------------------------+------+-------+------+-------+-----+-------+
| Food Use Dom. Consump.  | 1005 | 1000  | 1245 | 1380  | 0   | 1220  |
+-------------------------+------+-------+------+-------+-----+-------+
| Feed Waste Dom. Consum  | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+
| TOTAL Dom. Consumption  | 1005 | 1100  | 1245 | 1500  | 0   | 1340  |
+-------------------------+------+-------+------+-------+-----+-------+
| Ending Stocks           | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+
| **TOTAL DISTRIBUTION**  | **10 | **1   | **12 | **1   | **  | **1   |
|                         | 05** | 100** | 45** | 500** | 0** | 340** |
+-------------------------+------+-------+------+-------+-----+-------+
| Calendar Year Imports   | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+
| Calendar Yr Imp. U.S.   | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+
| Calendar Year Exports   | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+
| Calndr Yr Exp. to U.S.  | 0    | 0     | 0    | 0     | 0   | 0     |
+-------------------------+------+-------+------+-------+-----+-------+

### Table 21. Coconut Oil (Copra)

+--------------------+------+-------+-------+--------+--------+-------+
| ###### PSD Table   |      |       |       |        |        |       |
+--------------------+------+-------+-------+--------+--------+-------+
| **Country**        | **Ch |       |       |        |        |       |
|                    | ina, |       |       |        |        |       |
|                    | Peo  |       |       |        |        |       |
|                    | ples |       |       |        |        |       |
|                    | Repu |       |       |        |        |       |
|                    | blic |       |       |        |        |       |
|                    | of** |       |       |        |        |       |
+--------------------+------+-------+-------+--------+--------+-------+
| **Commodity**      | **   |       |       |        | (1000  |       |
|                    | Oil, |       |       |        | MT)    |       |
|                    | C    |       |       |        |        |       |
|                    | ocon |       |       |        | (PE    |       |
|                    | ut** |       |       |        | RCENT) |       |
+--------------------+------+-------+-------+--------+--------+-------+
|                    | 2003 | Re    | 2004  | Es     | 2005   | For   |
|                    |      | vised |       | timate |        | ecast |
+--------------------+------+-------+-------+--------+--------+-------+
|                    | USDA | Post  | USDA  | Post   | USDA   | Post  |
|                    | Offi | Est   | Off   | Es     | Of     | Est   |
|                    | cial | imate | icial | timate | ficial | imate |
|                    | \[O  | \[    | \[    | \      | \      | \[    |
|                    | ld\] | New\] | Old\] | [New\] | [Old\] | New\] |
+--------------------+------+-------+-------+--------+--------+-------+
| **Market Year      |      | 10    |       | 1      |        | 10    |
| Begin**            |      | /2003 |       | 0/2004 |        | /2005 |
+--------------------+------+-------+-------+--------+--------+-------+
| Crush              | 0    | 0     | 0     | 0      | 0      | 0     |
+--------------------+------+-------+-------+--------+--------+-------+
| Extr. Rate,        | 0    | 0     | 0     | 0      | 0      | 0     |
| 999.9999           |      |       |       |        |        |       |
+--------------------+------+-------+-------+--------+--------+-------+
| Beginning Stocks   | 0    | 0     | 0     | 0      | 0      | 0     |
+--------------------+------+-------+-------+--------+--------+-------+
| Production         | 0    | 0     | 0     | 0      | 0      | 0     |
+--------------------+------+-------+-------+--------+--------+-------+
| MY Imports         | 114  | 114   | 150   | 125    | 0      | 145   |
+--------------------+------+-------+-------+--------+--------+-------+
| MY Imp. from U.S.  | 0    | 0     | 0     | 0      | 0      | 0     |
+--------------------+------+-------+-------+--------+--------+-------+
| MY Imp. from the   | 0    | 0     | 0     | 0      | 0      | 0     |
| EC                 |      |       |       |        |        |       |
+--------------------+------+-------+-------+--------+--------+-------+
| **TOTAL SUPPLY**   | **1  | **    | **    | *      | **0**  | **    |
|                    | 14** | 114** | 150** | *125** |        | 145** |
+--------------------+------+-------+-------+--------+--------+-------+
| 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.      | 114  | 114   | 150   | 125    | 0      | 145   |
| Consump.           |      |       |       |        |        |       |
+--------------------+------+-------+-------+--------+--------+-------+
| Feed Waste Dom.    | 0    | 0     | 0     | 0      | 0      | 0     |
| Consum             |      |       |       |        |        |       |
+--------------------+------+-------+-------+--------+--------+-------+
| TOTAL Dom.         | 114  | 114   | 150   | 125    | 0      | 145   |
| Consumption        |      |       |       |        |        |       |
+--------------------+------+-------+-------+--------+--------+-------+
| Ending Stocks      | 0    | 0     | 0     | 0      | 0      | 0     |
+--------------------+------+-------+-------+--------+--------+-------+
| **TOTAL            | **1  | **    | **    | *      | **0**  | **    |
| DISTRIBUTION**     | 14** | 114** | 150** | *125** |        | 145** |
+--------------------+------+-------+-------+--------+--------+-------+
| Calendar Year      | 0    | 152   | 0     | 113    | 0      | 0     |
| 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 22. Wholesale Soybean Prices CY2004

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

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

  Tianjin            3,400   3,600   3,700   3,900   3,500   3,200   3,300   3,150   2,920   2,800   2,810   2,800

  Hebei              3,400   3,600   3,700   3,900   3,550   3,200   3,340   3,160   2,920   2,680   2,720   2,800

  Jilin              2,920   3,040   3,500   3,520   3,300   3,200   3,200   3,100   2,920   2,600   2,650   2,620

  Heilongjiang       2,900   3,000   3,450   3,440   3,260   3,000   2,900   2,900   2,800   2,420   2,500   2,500

  Shanghai           3,450   3,600   3,900   3,900   3,540   3,250   3,300   3,150   2,950   2,800   2,820   2,800

  Jiangsu            3,450   3,600   3,900   3,900   3,540   3,250   3,300   3,130   2,950   2,800   2,820   2,800

  Shangdong          3,400   3,620   3,980   3,980   3,540   3,300   3,340   3,160   2,950   2,840   2,820   2,800

  Henan              3,400   3,650   3,990   4,000   3,580   3,360   3,380   3,180   2,950   2,860   2,880   2,860

  Guangdong          3,450   3,600   3,900   3,900   3,540   3,300   3,350   3,180   2,950   2,800   2,820   2,800

  **Average**        3,308   3,479   3,780   3,827   3,483   3,229   3,268   3,123   2,923   2,733   2,760   2,753

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

Source: China National Grains & Oils Information Center, Beijing

### Table 23. Wholesale Soybean Meal Prices in CY2004

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

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

  Tianjin            2,703   3,033   3,590   3,210   2,720   2,830   2,790   2,840   2,910   2,500   2,420   2,380

  Hebei              2,713   3,043   3,600   3,220   2,730   2,840   2,800   2,850   2,920   2,460   2,380   2,380

  Jilin              2,600   2,900   3,400   3,200   2,900   2,900   2,800   2,800   2,820   2,450   2,300   2,300

  Heilongjiang       2,520   2,700   3,250   3,180   2,980   2,920   2,820   2,650   2,800   2,250   2,200   2,200

  Shanghai           2,800   3,200   3,700   3,220   2,650   2,860   2,800   2,820   2,950   2,650   2,420   2,420

  Jiangsu            2,780   3,150   3,700   3,250   2,700   2,850   2,780   2,820   2,950   2,500   2,440   2,450

  Shangdong          2,720   3,000   3,550   3,230   2,750   2,850   2,750   2,850   2,860   2,550   2,400   2,400

  Henan              2,800   3,080   3,600   3,300   2,900   2,820   2,850   2,950   2,950   2,550   2,500   2,500

  Guangdong          2,680   3,100   3,650   3,230   2,750   2,980   2,820   2,850   3,020   2,480   2,400   2,450

  **Average**        2,702   3,023   3,560   3,227   2,787   2,872   2,801   2,826   2,909   2,488   2,384   2,387

  **Jan-Dec Change =                                                                                         
  -12%**                                                                                                     
  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------

Source: China National Grains & Oils Information Center, Beijing

### Table 24. Wholesale Soybean Oil Prices in CY2004

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

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

  Tianjin            7,200   7,350   7,200   7,000   6,550   6,000   6,400   6,220   6,280   5,580   5,920   5,980

  Hebei              7,200   7,320   7,200   7,000   6,550   6,000   6,420   6,360   6,280   5,580   5,950   5,980

  Jilin              7,250   7,400   7,280   7,200   6,800   6,500   6,580   6,500   6,420   5,550   6,000   5,900

  Heilongjiang       7,200   7,700   7,400   7,450   6,900   6,700   6,640   6,500   6,480   5,500   5,900   5,850

  Shanghai           7,150   7,300   7,200   7,050   6,500   6,050   6,300   6,250   6,180   5,700   5,850   5,950

  Jiangsu            7,100   7,280   7,180   7,050   6,500   6,020   6,250   6,250   6,150   5,680   5,800   5,950

  Shangdong          7,150   7,300   7,200   7,000   6,450   6,000   6,350   6,350   6,120   5,600   5,900   5,980

  Henan              7,250   7,400   7,250   7,100   6,600   6,150   6,360   6,400   6,280   5,680   5,950   6,000

  Guangdong          7,100   7,300   7,150   6,950   6,500   6,000   6,150   6,080   6,000   5,500   5,820   5,980

  **Average**        7,178   7,372   7,229   7,089   6,594   6,158   6,383   6,323   6,243   5,597   5,899   5,952

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

Source: China National Grains & Oils Information Center, Beijing

### Table 25. Wholesale Rapeseed Oil Prices in CY2004

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

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

  Jiangsu            7,000   7,300   7,250   7,150   6,700   6,000   6,250   6,250   6,150   5,850   5,950   6,050

  Zhejiang           7,000   7,350   7,350   7,250   6,850   6,000   6,300   6,200   6,200   5,850   5,950   6,000

  Anhui              7,000   7,250   7,250   7,150   6,680   6,000   6,250   6,250   6,100   5,850   5,920   6,000

  Jiangxi            7,000   7,300   7,350   7,300   7,000   6,200   6,250   6,250   6,200   5,900   6,000   6,100

  Hubei              6,900   7,250   7,300   7,000   6,400   6,000   6,200   6,250   6,200   5,800   6,000   6,100

  Hunan              7,000   7,300   7,300   7,300   6,700   6,200   6,300   6,250   6,200   5,950   6,000   6,150

  Sichuan            7,100   7,300   7,350   7,300   7,200   6,600   6,600   6,600   6,600   6,300   6,400   6,400

  **Average**        7,000   7,293   7,307   7,207   6,790   6,143   6,307   6,293   6,236   5,929   6,031   6,114

  **Jan-Dec Change =                                                                                         
  -13%**                                                                                                     
  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------

Source: China National Grains & Oils Information Center, Beijing

### Table 26. A Comparison of Wholesale Prices for Soy & Rapeseed Oil in CY2004

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

  Rapeseed         7,000       7,293       7,307      7,207      6,790      6,143       6,307       6,293       6,236       5,929      6,031      6,114

  Soy              7,178       7,372       7,229      7,089      6,594      6,158       6,383       6,323       6,243       5,597      5,899      5,952

  **Difference**   **-2.5%**   **-1.1%**   **1.1%**   **1.6%**   **2.9%**   **-0.2%**   **-1.2%**   **-0.5%**   **-0.1%**   **5.6%**   **2.2%**   **2.7%**
  ---------------- ----------- ----------- ---------- ---------- ---------- ----------- ----------- ----------- ----------- ---------- ---------- ----------

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

###  

## Tariff Rate Quota Tables

### Table 27. 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 28. 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 29. 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, 2005)

### Table 30. 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 31. Oils

+----------+-------------------------------+------+----------+-------+
| HS Code  | Description                   | In   | Out-     |       |
|          |                               | Q    | of-Quota |       |
|          |                               | uota |          |       |
+----------+-------------------------------+------+----------+-------+
|          |                               | Duty | M.F.N.   | V     |
|          |                               |      |          | .A.T. |
|          |                               | (%)  | (%)      |       |
|          |                               |      |          | (%)   |
+----------+-------------------------------+------+----------+-------+
| 15071000 | Crude soybean oil             | 9    | 19.9     | 13    |
+----------+-------------------------------+------+----------+-------+
| 15079000 | Other soybean oil             | 9    | 19.9     | 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    | 19.9     | 13    |
+----------+-------------------------------+------+----------+-------+
| 15119010 | Palm oil, liquid              | 9    | 19.9     | 13    |
+----------+-------------------------------+------+----------+-------+
| 15119020 | Stearin                       |      | 8        | 13    |
+----------+-------------------------------+------+----------+-------+
| 15119090 | Palm oil, other               | 9    | 19.9     | 17    |
+----------+-------------------------------+------+----------+-------+
| 15       | Crude sunflower seed oil      |      | 9.1      | 13    |
| 121100.1 |                               |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15       | Crude safflower seed oil      |      | 9.1      | 13    |
| 121100.9 |                               |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15       | Other sunflower seed oil      |      | 9.1      | 17    |
| 121900.1 |                               |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15       | Other safflower seed oil      |      | 9.1      | 17    |
| 121900.9 |                               |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15122100 | Crude cottonseed oil          |      | 10       | 13    |
+----------+-------------------------------+------+----------+-------+
| 15122900 | Other cottonseed oil          |      | 10       | 17    |
+----------+-------------------------------+------+----------+-------+
| 15131100 | Crude coconut oil             |      | 9.5      | 13    |
+----------+-------------------------------+------+----------+-------+
| 15131900 | Other coconut oil             |      | 9.5      | 13    |
+----------+-------------------------------+------+----------+-------+
| 15132100 | Crude palm kernel oil         |      | 10       | 13    |
+----------+-------------------------------+------+----------+-------+
| 15132900 | Other palm kernel oil         |      | 10       | 17    |
+----------+-------------------------------+------+----------+-------+
| 15141110 | Crude low erucic acid rape    | 9    | 19.9     | 13    |
|          | oil                           |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15141190 | Crude low erucic acid mustard | 9    | 19.9     | 13    |
|          | oil                           |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15141900 | Other crude low erucic acid   | 9    | 19.9     | 13    |
|          | rape oil                      |      |          |       |
+----------+-------------------------------+------+----------+-------+
| 15149110 | Crude rape oil                | 9    | 19.9     | 13    |
+----------+-------------------------------+------+----------+-------+
| 15149190 | Crude mustard oil             | 9    | 19.9     | 13    |
+----------+-------------------------------+------+----------+-------+
| 15149900 | Other rape oil                | 9    | 19.9     | 17    |
+----------+-------------------------------+------+----------+-------+

### Table 32. 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    |
+----------+-------------------------------+------+----------+-------+