Required Report - public distribution

**Date:** 3/1/2007

**GAIN Report Number:** CH7012

CH7000

**China, Peoples Republic of**

**Oilseeds and Products**

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

**2007**

**Approved by:**

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

U.S. Embassy

**Prepared by:**

Mark Petry and Wu Xinping

**Report Highlights:**

China\'s oilseed demand in marketing year (MY) 2007/08 is forecast to
continue growing due to increases in animal production, utilization of
commercially produced animal feeds, and human consumption. Total oilseed
supply is forecast to grow by about two percent, while oilseed meal
production is forecast to increase by four percent. The limited
availability of land and low productivity in China mean that almost all
of the increase in oilseed product supplies in MY 07/08 will be made up
by imports. Imports of soybeans, palm oil, soybean oil, and fishmeal are
all forecast to increase to meet steadily increasing demand.

Includes PSD Changes: Yes

Includes Trade Matrix: Yes

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 4](#soybeans)

[Production 4](#production)

[Trade 5](#trade)

[Policy 6](#policy)

[Chinese Soy Association Becomes Reality
7](#chinese-soy-association-becomes-reality)

[Marketing 11](#marketing)

[Rapeseed 12](#rapeseed)

[Peanuts 12](#peanuts)

[Oilseed Meal Situation and Outlook
13](#oilseed-meal-situation-and-outlook)

[Soybean Meal 13](#soybean-meal)

[Production and Consumption 13](#production-and-consumption)

[Trade 15](#trade-1)

[Fishmeal 15](#fishmeal)

[Cottonseed Meal 16](#cottonseed-meal)

[Oil Situation and Outlook 16](#oil-situation-and-outlook)

[Total Oils 16](#total-oils)

[Soybean Oil 17](#soybean-oil)

[Palm Oil 18](#palm-oil)

[Statistical Tables 19](#statistical-tables)

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

[Table 1. Total Oilseeds 19](#table-1.-total-oilseeds)

[Table 2. Total Meals 20](#table-2.-total-meals)

[Table 3. Total Oils 21](#table-3.-total-oils)

[Oilseeds PSD Tables 22](#oilseeds-psd-tables)

[Table 4. Soybeans 22](#table-4.-soybeans)

[Table 5. Rapeseed 23](#table-5.-rapeseed)

[Table 6. Peanuts 24](#table-6.-peanuts)

[Table 7. Sunflower Seed 25](#table-7.-sunflower-seed)

[Table 8. Cotton Seeds 26](#table-8.-cotton-seeds)

[Meals PSD Tables 27](#meals-psd-tables)

[Table 9. Soybean Meal 27](#table-9.-soybean-meal)

[Table 10. Rapeseed Meal 28](#table-10.-rapeseed-meal)

[Table 11. Peanut Meal 29](#table-11.-peanut-meal)

[Table 12. Sunflower Seed Meal 30](#table-12.-sunflower-seed-meal)

[Table 13. Cotton Seed Meal 31](#table-13.-cotton-seed-meal)

[Table 14. Fish Meal 32](#table-14.-fish-meal)

[Oils PSD Tables 33](#oils-psd-tables)

[Table 15. Soybean Oil 33](#table-15.-soybean-oil)

[Table 16. Rapeseed Oil 34](#table-16.-rapeseed-oil)

[Table 17. Peanut Oil 35](#table-17.-peanut-oil)

[Table 18. Palm Oil 36](#table-18.-palm-oil)

[Table 19. Sunflower Seed Oil 37](#table-19.-sunflower-seed-oil)

[Table 20. Cottonseed Oil 38](#table-20.-cottonseed-oil)

[Table 21. Coconut Oil (Copra) 39](#table-21.-coconut-oil-copra)

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

[Table 22. Wholesale Soybean Prices CY 2006
40](#table-22.-wholesale-soybean-prices-cy-2006)

[Table 23. Wholesale Soybean Meal Prices in CY 2006
40](#table-23.-wholesale-soybean-meal-prices-in-cy-2006)

[Table 24. Wholesale Soybean Oil Prices in CY 2006
40](#table-24.-wholesale-soybean-oil-prices-in-cy-2006)

[Table 25. Wholesale Rapeseed Oil Prices in CY 2006
41](#table-25.-wholesale-rapeseed-oil-prices-in-cy-2006)

[Table 26. Wholesales Palm Oil Ex-Pier Prices CY 2006
41](#table-26.-wholesales-palm-oil-ex-pier-prices-cy-2006)

[Table 27. A Comparison of Wholesale Prices for Soy, Palm & Rapeseed Oil
in CY 2006
41](#table-27.-a-comparison-of-wholesale-prices-for-soy-palm-rapeseed-oil-in-cy-2006)

[Taxes & Duties Tables (Jan 01-Dec 31, 2007)
42](#taxes-duties-tables-jan-01-dec-31-2007)

[Table 28. Oilseeds 42](#table-28.-oilseeds)

[Table 29. Oils 43](#table-29.-oils)

[Table 30. Meals 44](#table-30.-meals)

# Executive Summary

# 

China\'s oilseed demand in MY07/08 is forecast to continue growing due
to increases in animal production, use of industrially produced animal
feeds, and human consumption. Steady GDP and consumer purchasing power
increases are driving demand for animal protein and vegetable protein
and oils. Total oilseed supply is forecast to grow by about two percent,
while oilseed meal production is forecast to increase by four percent.
The limited availability of land, low productivity, and decreases in
returns versus other crops limit China's ability to increase
domestically produced oilseeds. In order to meet demand in the livestock
and food processing sectors, China needs additional imports to boost
total oilseed product supply in MY07/08. As a result, imports of
soybeans, palm oil, soybean oil, and fishmeal are all forecast to
increase. Soybean imports are forecast to grow by about 10 percent to
meet meal demand and make up for the return to a normal cottonseed crop.

The second part of this report, GAIN CH7013, contains detailed trade
tables.

# Oilseeds Situation and Outlook

# 

## Total Oilseeds

MY07/08 total oilseed production is forecast at 55.2 MMT from a planted
area of 27.4 million hectares (MHa). Forecast MY07/08 production is one
percent lower than the estimated production for MY06/07, although the
planted area is one percent higher than the previous year. All major
oilseeds are forecast to be stable except for cottonseed, which is
forecast to decrease as yields return to normal. The planted area in
MY07/08 is forecast to increase slightly because of the higher prices
for many oilseed products since the end of 2006 and expanded cotton
area. The Government of China's (GOC) policy favoring "grain
security/self sufficiency" continues to impede expansion of oilseeds
planted area (not including cotton) because the subsidies to grain crops
contribute to higher net returns for substitute grain crops. Competition
for land from other crops (grain crops, cotton and vegetables) and rapid
urban expansion limit increases to total oilseeds planted area. Yield
gains for oilseeds continue to be hindered by poor agronomic practices,
poor technology, and inadequate farmer inputs. Despite the recent bumper
cottonseed crop, total domestic oilseeds available for crushing are
slowly declining because of increasing food-use of Chinese oilseeds and
stable domestic production. While domestic crush is declining, demand
from the livestock sector continues to increase. Until Chinese yields or
planted area increases, the gap between domestic supply and demand will
continue to grow and imports will also grow. MY07/08 imports are
forecast to grow by nine percent, to 35 million metric tons (MMT).

## Soybeans

### Production

Soybean production for MY07/08 is forecast to remain unchanged from the
previous year. The below trend production is mainly because of the
forecast planted area decline in Heilongjiang province as farmers react
to disappointing returns versus competing crops. According to China's
National Grain and Oils Information Center (CNGOIC), soybean wholesale
prices were about 2,500 RMB/MT from February through October 2006. The
results of the GOC's National Development and Reform Commission (NDRC)
survey of eight soy-producing provinces indicate that soybean production
costs are estimated at 3,940 RMB/Ha in 2006. However, domestic soybeans
farm-gate price remained low at about 2,400 RMB/MT from 2005 to November
2006. Thus, the gross profit for soybean farmers is about 600 RMB/Ha,
significantly lower when compared with the estimated 1,500 RMB/Ha for
the major competing grain crops. Although prices for grains and oilseeds
increased in mid-November 2006, it is unlikely to boost soybean-planting
area MY07/08 because the profit margin for grain crops is still expected
to be higher than soybeans.

Total soybean planted area in MY07/08 is forecast at 9.2 MHa, slightly
lower than the estimated 9.3 MHa in MY06/07. Estimating China's actual
soybean planting area remains challenging because of the unreported
"Black Land" in Heilongjiang and other northeast provinces (see GAIN
CH6006) and the small-scale planting in other producing provinces.
According to several sources from Heilongjiang Province, the production
for the province is generally higher than China National Statistics
Bureau's (NSB) data, implying the planted area reported by the GOC is
underestimated.

Relatively low yield and small-scale plantings continue to be a
challenge for soybean farmers' competitiveness. China's average soybean
yields ranged from 1.65 to 1.8 MT/Ha from 2003 to 2005, as compared with
an average of 2.7 MT/Ha in the United States. The Chinese average yield
in 2006 is estimated slightly higher than 1.7 MT/Ha. Average yield for
MY07/08 is forecast at an average of 1.7 MT/Ha.

China's agricultural experts reported that outbreaks of Cyst nematode in
the Northeast provinces, due to inadequate crop rotation, are
increasingly affecting yield. Production of affected crops in certain
areas was down 15 to 70 percent in 2006. Crop rotation is often
inadequate due to the small cultivated area per household. In late 2006,
experts renewed a call for more government funds on the development of
new soybean varieties with resistance to pests such as the cyst
nematode.

# 

### Trade

Soybean imports for MY07/08 are forecast at 34.5 MMT, up 9.5 percent
from the estimated 31.5 MMT for MY06/07. Soybean imports for MY05/06
reached 28.3 MMT, up by about 10 percent over the previous year. The
increasing demand for soybeans is driven mainly by continuous high GDP
growth (10.7 percent in 2006 and 10.2 percent in 2005), and the
resultant demand for animal proteins and vegetable oil. Many industry
sources expect that soybean demand will remain strong in the foreseeable
future because of the strong and growing demand for protein meal by the
rapidly developing animal husbandry industry (including aquaculture).
According to China's Ministry of Agriculture (MOA), the growth rate for
industrialized feed production averaged 8 percent from 2001 to 2005.
Total feed production reached 107 MMT in 2005, up 11 percent over the
previous year. MOA's "Five-Year (2006-2010) Plan on Development of Feed
Industry" (the 11^th^ Five-Year plan) set the target for feed production
at 131 MMT in 2010 with annual average growth rate of 4.5 percent.

According to MOA and industry sources, as a result of the outbreak of
avian influenza (AI) in 2005, feed production slowed in first months of
2006 but picked up again in later in the year. Normal growth is forecast
for 2007. The preliminary estimate for feed production in 2006 is 109
MMT, up 2 percent.

For the first time in history, Brazil became the largest soybean
supplier to China in MY05/06 with total volume at 11.7 MMT. Brazil took
a 41 percent market share, while the U.S. share dropped to 34 percent on
9.7 MMT. The continued, slow appreciation of the Chinese currency
continued (\$1=RMB8 in Jan 2006 to currently \$1=RMB7.8) will also
facilitate increased imports from abroad.

**China\'s Soybean Imports by Origins (in MT) from MY03/04 to MY05/06**

+------------+----------+-------+----------+-------+---------+-------+
| Country    | MY03/04  |       | ######   |       | ######  |       |
|            |          |       |  MY04/05 |       | MY05/06 |       |
+------------+----------+-------+----------+-------+---------+-------+
|            | MT       | S     | MT       | S     | MT      | S     |
|            |          | hare% |          | hare% |         | hare% |
+------------+----------+-------+----------+-------+---------+-------+
| Brazil     | 5        | 30%   | 6        | 26%   | 11,     | 41%   |
|            | ,082,224 |       | ,700,504 |       | 744,287 |       |
+------------+----------+-------+----------+-------+---------+-------+
| **United   | **8,2    | **    | **11,8   | **    | **9,70  | **    |
| States**   | 87,039** | 49%** | 73,208** | 46%** | 8,487** | 34%** |
+------------+----------+-------+----------+-------+---------+-------+
| Argentina  | 3        | 21%   | 7        | 28%   | 6,      | 23%   |
|            | ,550,339 |       | ,100,842 |       | 430,724 |       |
+------------+----------+-------+----------+-------+---------+-------+
| Uruguay    | 0        | 0%    | 114,066  | 0%    | 420,952 | 1%    |
+------------+----------+-------+----------+-------+---------+-------+
| Other      | 13,271   | 0%    | 13,306   | 0%    | 12,633  | 0%    |
+------------+----------+-------+----------+-------+---------+-------+
| Total      | 16       | 100%  | 25       | 100%  | 28,     | 100%  |
|            | ,932,873 |       | ,801,926 |       | 317,083 |       |
+------------+----------+-------+----------+-------+---------+-------+

### Policy

Production policy remains generally unchanged. As mentioned above,
domestic soybean planted area shrank in MY05/06 and MY06/07 mainly
because of lower profits received versus competing grain crops. In
mid-2006, in response to the low soybean farm-gate purchasing price, an
expected fall of soybean planted area, growing imports, and increased
foreign ownership of soybean crushing, China's National Development and
Reform Commission (NDRC) presented proposals to the State Council on
what to do about the "soybean industry crisis". Their major concern is
how to maintain a "reasonable" price for domestic soybeans and increase
soybean farmers' income. While direct income supports or income
insurance are not considered budgetarily feasible, analysts believe that
the GOC may take up some of the suggested measures to invest in greater
competitiveness or making oilseed support more equivalent to grains. The
measures may include production subsidies to supplement the current
\$20-30/Ha seed/machinery subsidies, increase varietal research,
financial support in building grain transport and marketing
infrastructure, or an increase in state procurement of soybeans in case
sharp price declines.

Chinese officials and industry representatives are aware that poor
competitiveness and low income are intertwined in the soybean sector.
Moreover, they have limited ability to change the system because
increasing average holding size risks unwanted unemployment/urban
migration and the remnants of the grain "self-sufficiency" program are
politically off-limits. Thus, the only real levers left to the GOC are
ways to increase yield, marketing efficiency, and even the playing field
with other subsidized crops. (Even these improvement can only so far
because an additional five times of Heilongjiang's soybean area would be
needed to meet the current annual supply gap of over 35 MMT). Based on
these factors, most realists in the Chinese soybean sector suggest
providing more technical support to farmers.

The "GMO-free" soybean production policy remains unchanged and is not
likely to be changed in the foreseeable future. This is chiefly because
domestic soybeans are increasingly consumed directly as food, such as
tofu, and the GOC still regards genetically modified food as a sensitive
issue. Moreover, the "GMO-free" policy ensures China can export with a
moderate premium to European and Asian markets that restrict the import
of GMO soybeans. This policy is de facto becoming the industry marketing
strategy.

The trade related GMO policy also remains unchanged. As reported in the
2006 Oilseeds Annual (CH6006), MOA issued final approval of Roundup
Ready (RR) soybeans in February 2004 and eight GMO corn events in 2005.
In early 2007, MOA reviewed and extended the GMO soybean safety
certificates to February 20, 2010. Although shipment-by-shipment
certification by MOA is unnecessarily burdensome, traders have not
reported trade disruption related to GMO certificates.

The proposed "Bulk Agricultural Commodity Import Reporting System" is
another unnecessarily burdensome new policy related to soy imports. As a
follow-up to NDRC's proposals on the "soybean industry crisis", China's
Ministry of Commerce (MOFCOM) issued "The Administrative Measures of the
Reporting and Information Publication on the Import of Bulk Agriculture
Commodities (For Trial Implementation)" (GAIN report CH6116) and has
circulated "Detailed Implementation Measures" to certain members of the
trade. MOFCOM has acknowledged that the system is loosely based on the
USDA Export Reporting System (ERS). However, some of the key differences
in the Chinese proposal are additional reporting requirements after the
contract has been completed, potentially severe penalties for
misreporting, and "in the cases of sharp increase of imports, violent
swing of prices and other factors affecting the market stability, MOFCOM
shall issue early warning or adopt other appropriate measures according
to the relevant regulations". These measures have neither been submitted
to the WTO for public comment nor to all industry representatives.

USDA submitted comments to and held several consultations with MOFCOM to
express U.S. concerns over the potential trade impact of the system.
MOFCOM has stated that it believes the reporting system will have no
trade impact and is WTO compliant. However, it has also stated that it
is interested in industry comments and will take them into
consideration. MOFCOM has not notified importers when the finalized
measures will be published or when the system will be implemented.

### 

### Chinese Soy Association Becomes Reality

After four years of discussion, it appears that the China Soybean
Industry Association (CSIA) will become a reality in early 2007.
Industry and media sources reported that the Chinese Ministry of
Agriculture (MOA) held a one-day meeting to finalize the establishment
of the CSIA on January 6. The same sources indicated that officials from
19 soybean producing provinces and more than 10 senior soybean
processing company representatives attended this meeting. While
domestically focused groups were well represented, reports indicated
that there were no participants from CFNA, COFCO, foreign trading
companies, or companies that primarily process imported soybeans. It is
reported that the former MOA Vice Minister Wan Baorui was selected as
CSIA Chairman and that the meeting participants formalized the CSIA
structure and discussed its goals and objectives. No official
announcement has been released regarding these news reports.

The creation of CSIA, the continual dissatisfaction of many Chinese
soybean farmers, and the growth in import market share have raised the
volume of the debate about the soybean industry within China. The
following portion of the Soybean Policy Section attempts to capture the
major themes of the policy debate swirling around Chinese soy industry
policy amid the various hopes and suspicions about the issues CSIA might
focus upon.

**Background**

The evolution of the creation of CSIA is interesting because it
illustrates the difficulty that the Chinese soy industry and government
have had in coming to terms with their role as the leading international
soy importer and the globalization of the Chinese soy market. Prior to
2000, Chinese imports of soy were growing but still contribute to only a
small percentage of overall supply. As a result, government policy was
mainly focused on balancing farmer income and stable food prices, while
maintaining planted area. However, imports almost tripled between
1998/1999 and 1999/2000 and tripled again from that point to 2006/2007.
To Chinese producers, seemingly overnight imports went from zero percent
of overall supply in 1990/1991, to 17% in 1998/1999, to 38% in
1999/2000, to 61% in 2006/07. Not only did imports increase rapidly in
tune with surging demand, foreign companies became a force in the
crushing sector by establishing crushing plants, buying existing
companies, and forging partnerships with Chinese companies.

These significant market changes led to concern that the traditional
food price/farmer income balance could be at risk. The increasing number
of market actors and the addition of strong foreign companies diluted
the government's control and broke its monopoly on market information.
As a result, parts of the government long for a single industry group to
represent the disparate market interests and provide policy advice on
both internal and external issues. Similarly, Chinese farmers felt
overwhelmed by imported soybeans and did not like the implications of
becoming price takers in the global soybean market. Chinese crushers
also felt overwhelmed by the scale, global sourcing, market information,
and financing of the multinational grain companies. The dwindling role
of Chinese processors also meant that they could not longer act as a
control point for government intervention.

These are natural concerns and an association of domestic producers or
processors of Chinese soybeans could have easily formed to lobby for its
interests and address weaknesses in infrastructure or other issues
related to the marketing of Chinese soybeans. According to industry
experts, this did not happen because the Chinese Government,
particularly the Ministry of Agriculture, pressed for the creation of a
single soybean association that represents the interests of all market
participants. As a result of the obvious conflict of interest between
the various market participants, efforts to create an all-inclusive
soybean association were unsuccessful for many years.

**Defining Moments for CSIA**

As with any organization, the initial structure and leadership of CSIA
will have a long-lasting impact on its direction and objectives. At this
early stage, without the formal publication of personnel or
organizational goals, CSIA's focus is unclear.

As a result of the acknowledged pre-existing conflicts of interest, many
observers predict that CSIA will not be able to act as a unifying and
unified voice for the Chinese soybean industry. Moreover, industry
speculation suggests that many "members" do not expect to participate in
the organization in an active way. Reports suggest the dissatisfaction
stems from the perception that the main promoter of CSIA, the Ministry
of Agriculture, is only interested in creating a unified voice in
support of the domestic soybean growers and users. (In fact, this is
MOA's stated role within the GOC.) If recent articles are accurate,
initial CSIA actions do seem to be oriented toward growers and
processors of Chinese soybeans. By signaling a lack of interest or
outright suspicion, foreign companies and Chinese companies processing
imported soybeans may actually further the drift of CSIA toward a
producers union model.

Though it is hard to speculate at this time about specific CSIA
objectives, many of the more vocal proponents of creating this
organization have publicly announced proposals for directing CSIA.
However, since the most vocal proponents have been Chinese producer
groups and domestic processors, most of the 100+ proposals have focused
on marketing, government market regulation or intervention, and other
issues of interest mainly to producers. Issues and problems that members
have publicly recommended for CSIA action or attention have been:

-   Excess crushing capacity

-   Excessive foreign ownership of crushing capacity

-   Insufficient transportation and storage infrastructure

-   Inadequate marketing channels between North and South China

-   Low production efficiency (seeds, technology, etc.)

-   Production of low quality soybeans (low oil content, foreign matter,
    etc.)

-   Over-reliance on imports

-   Lack of market information

-   Underdeveloped commodities and futures markets

-   Lack of price stability, income guarantees, or counter-cyclical
    support mechanisms

-   Initiate anti-dumping cases against imported soybeans

-   Establish joint/unified soybean import purchasing mechanism

Clearly the list mainly applies to Chinese producer and soybean user
interests and focuses on issues that detract from producer
competitiveness. The issue important to most processors is the
continuation of a market generally free of trade distorting government
policies. However, some of the radical, anti-import policies suggested
for CSIA have caused proponents of a free market to reconsider
participation in CSIA and fueled suspicions that it will be a domestic
lobby with a distinctly anti-import viewpoint.

**Key Group & Positions Regarding the Establishment of CSIA**

*Ministry of Agriculture (MOA)*

The Chinese Ministry of Agriculture is responsible for issues related to
production agriculture. As such, MOA looks after farmer interests by
focusing on technology, marketing, infrastructure, rural policy,
production policy, and producer incomes.

MOA is generally seen as the main, maybe only, Chinese ministry that is
backing the creation of CSIA. Observers note that MOA long criticized
the industry for lacking a cohesive organization that can provide the
government with policy advice and is backing CSIA as a way to streamline
private-sector policy input. Partly as a result of MOA's role as the
main promoter and protector of domestic agriculture, outside parties
have been suspicious of MOA's role in the creation of the CSIA.

*Ministry of Commerce (MOFCOM)*

In terms of China's soy industry, the Chinese Ministry of Commerce has a
general trade supervisory role relating to maintaining fair competition,
ensuring the trade regime adheres to WTO rules, and import and export
administration. MOFCOM is the key ministry that helps craft overall
Chinese economic policy and interacts with foreign governments on
bilateral trade issues.

According to industry sources, MOFCOM is reported to have little or
nothing to do with the creation of CSIA. Though MOFCOM works on general
economic policy issues that include agriculture, much of MOFCOM's
interaction with the soy industry comes through the China Chamber of
Commerce for Import & Export of Foodstuffs, Native Produce & Animal
By-products, which conducts many agricultural trade administration
duties. As such, MOFCOM has a great amount of experience working with
the soy trade, as well as the domestic industry. Where critics complain
that MOA only wants to protect domestic producers, others complain that
MOFCOM is overly friendly to soy importers and too concerned that
limiting the soy trade will upset larger economic goals and exacerbate
trade frictions.

*China Chamber of Commerce for Import & Export of Foodstuffs, Native
Produce & Animal By-products (CFNA)*

This chamber of commerce is under the supervision of the Ministry of
Commerce (MOFCOM) and focuses on the implementation of import and export
policies for agricultural products ranging from grains, oils,
vegetables, fruits to native produce, leather, fur, and carpets. CFNA
has 48 sub-chambers covering different agro-products with over 5,400
members all over China. The Soybean Importers Sub-chamber was formed
five years ago and the members are mainly soybean traders and crushers.

While CFNA tried in the past to implement a unified purchasing scheme
and a pre-warning information system, in recent years it is seen as a
relatively neutral body with both trade and domestic missions. Observers
suggest that CFNA's quasi-government status and MOFCOM's differing of
views with MOA on soy trade will force CFNA to not actively participate
in CSIA or decline membership.

*Chinese Domestic Producers*

Chinese producers have been some of the long-term supporters of the
creation of CSIA because they feel the current policy formulation
structure does not adequately protect producer interests. Moreover, many
producers think that MOFCOM/CFNA viewpoints on import policy are too
influential and that producer interests are being trumped by excessively
liberal trade policies. They also complain that international grain
companies' global reach places them at a disadvantage inside China due
to their scope, economies of scale, preference for imported beans, and
information. Many domestic groups are beginning to use sharper language
in describing the role of foreign companies, often using the phrase
"foreign capital monopoly" to capture a wide range of complaints about
foreign investments in soybean processing.

Due to their championing of this organization, producers can be expected
to play an important role. As noted above, the main question in the
industry is how big a role producers and companies that process mostly
domestic soybeans will play.

*Soybean Processors*

Due to consolidation and increased investment, soybean processors no
longer fall into discrete categories of exclusively processing domestic
or foreign soybeans. Since most of the larger companies source beans
domestically and internationally, the general consensus is that the
current trade policy framework is good and that the Chinese could take
many steps to increase productivity without resorting to distortionary
trade policies. However, Chinese domestic beans play an important role
in the Northeast and many crushers there are sympathetic to ensuring
that Chinese farmers maintain soybean planting and supply.

**Foreign Reporting Requirements, How Does It Fit In?**

The timing of the recently proposed introduction of import reporting
requirements (GAIN 6116) has led many to make a connection to the
creation of CSIA. The lack of timely information about incoming soybean
and soy product imports was one of the complaints some vocal CSIA
proponents have leveled against the Chinese Government. MOFCOM's
creation of this reporting requirement has been interpreted as a move to
address valid industry complaints in order to head off future calls for
measures to restrict trade. Industry observers suggest that the
anti-import rhetoric of domestic firms is partly a ploy to put MOFCOM on
the defensive in the trade policy arena in order to obtain less
controversial, but substantial domestic support programs, such as an
import reporting system. However, critics of such a "strategy" note that
anti-trade groups will gather strength as their policies are implemented
and be more, not less, likely to push the Chinese Government into
measures that limit soybean trade.

**Summary**

The creation of CSIA should be considered a milestone for the Chinese
soybean industry. Regardless of its trade policy, it is likely to be a
voice for increased investment to alleviate shortcomings that keep
Chinese soybean producers lagging behind other countries in terms of
productivity and market infrastructure. Due to the obvious need for
these changes, CSIA can provide support for the industry within Chinese
policy making circles.

However, the real question and concern about CSIA is its position and
influence over trade policy. The level of participation of
import-focused international companies and Chinese processors will
determine the answer to this question. Regarding trade policy, analysts
suggest that one of two outcomes is likely. First, a domestic
producer-focused CSIA might forcefully argue against imports and quickly
become irrelevant and overlooked as just another anti-trade lobby. The
voices of protectionism are already present and the creation of a new
organization would not dramatically amplify those promoting an
anti-trade agenda. Alternatively, CSIA could try to create an
industry-wide consensus on trade issues, but this would most likely
favor the status quo.

Regardless of the future leanings of CSIA, it would appear that Chinese
trade policy will not be heading for abrupt changes unless the
Government of China substantially revises its view of the feed and
livestock industries. Participants of the soybean industry have largely
already staked out positions on trade and CSIA seems unlikely to bridge
the entrenched conflicts of interest inherent in this industry.
Moreover, trade policy alone will not resolve China's basic dilemma of
protein deficiency, land deficiency, and a stable food price policy. In
contrast the more suspicious media reports, Chinese domestic producers
and CSIA seem most likely to acknowledge that improving Chinese
production and marketing efficiency are the easiest, cheapest, and
simplest ways to improve Chinese soybean farmer income, maintain planted
acreage, and increase production.

### Marketing

The soybean marketing pace of the MY06/07 domestic crop was accelerated
in comparison to previous years. Although many farmers held some old
crop until one month before the 2006 crop was harvested in expectation
of higher prices, the farm-gate purchasing price for the new crop
started low. However, prices increased in November 2006 and have
remained stable through January 2007. Industry sources reported that as
of mid-January, an estimated 70 percent of Heilongjiang new crop was
marketed in response to the good prices. The normal marketing rate by
January is 50 percent.

The general domestic soybean-marketing situation remains unchanged. The
soybeans produced in the Northeast provinces are used throughout China
to produce food, while the remainder is crushed locally or in nearby
provinces. Traders of domestic soybeans for food use are usually small
to medium size and still face many challenges in consolidating soybeans
from households and villages. They complain that the shortage of rail
cars impedes the shipment of soybeans to other parts of the country and
extra fees for obtaining rail cars are burdensome. According to industry
insiders, to crush domestic soybeans companies have to bear additional
costs of about 170 RMB/MT because of inefficient capital costs and extra
expenditures on warehousing, transport and packaging.

China's soybean crushing industry continued to consolidate in 2006,
though industry sources indicate that mergers and acquisitions by large
multinational or domestic oil and grain investors may have not yet
peaked. As a result of the drastic price fluctuation recorded in 2004,
some small to medium sized crushers continue to face financial
difficulties and look to merge with large players to survive in an
increasingly competitive market. Industry sources report that more than
ten significant mergers and acquisitions occurred in 2006.

Total crushing capacity continued expanding in 2006 and will again in
2007. As of the end of 2006, the total crushing capacity reached 80 MMT
per year, though capacity utilization is only slightly more than 40
percent. Foreign ownership accounted for 65 to 70 percent of the total
estimated utilized capacity. It is therefore likely that the mergers and
acquisitions process will continue in MY07/08 as excess capacity hangs
most heavily on smaller, domestically owned crushers.

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>.

## Rapeseed

MY07/08 rapeseed production is forecast at 12.2 MMT, up slightly from an
estimated 12 MMT in MY06/07. This is mainly in response to the increased
price for rapeseed and rapeseed oil since mid-November 2006. China's
rapeseed planted area averaged more than 7.25 MHa from 2003 to 2005.
Despite the price increase for rapeseed products since mid-November
2006, the total area for MY07/08 is unlikely to grow dramatically
because the MY06/07 crop was marketed before the price rise and sowing
time ends in the beginning of November in the Yangtze River region.
Winter planted area in MY07/08 in the Yangtze River region is estimated
at slightly more than 6.3 MHa and the crop conditions are rated above
average. Spring rapeseed in other provinces generally accounts for 10
percent of total planted area. Post forecasts MY07/08 rapeseed
production will increase to 12.2 MMT based on planted area of 6.8 MHa
and an above average yield.

Most rapeseed traders and crushers are small to medium in scale and this
situation is not likely to change in the foreseeable future. Locally,
rapeseed meal remains a major protein source for feed because it is
cheap. Although rapeseed oil is priced higher than soy oil consumers in
traditionally rapeseed oil consuming regions buy it. However, in other
regions, consumers are more price sensitive when they buy bottled,
refined vegetable oil.

## Peanuts

The MY07/08 peanut production forecast is 14.2 MMT, slightly higher than
the estimated production of 14 MMT in MY06/07. Despite the stagnant
prices for soybean products in the first half of 2006, the price of
peanut products remained high and even increased an additional 15 to 20
percent. Industry sources report MY06/07 peanut production in Henan
province increased by 8 percent (or 270,000 MT) while production in
Shandong (the largest producer) remained unchanged.

Peanut exports are forecast to be 800,000 MT in MY07/08, up from the
estimated 750,000 MT exports in MY06/07, but lower than MY05/06.
Stagnant exports are mainly attributable to strong domestic demand and
trade impediments imposed by Japan (Positive-Listing System effective
June 1, 2006) and the European Union (strict Aflatoxin residue level).
Nevertheless, Japan still remains the largest destination for China's
peanut products, followed by Russia and South Korea. For general
background on China's peanut sector, see the December 2003 "Peanut
Sector Report," (GAIN Report CH3134).

# Oilseed Meal Situation and Outlook

MY07/08 oilseed meal production is forecast at 46.5 MMT based on a
projected oilseed crush of 68.9 MMT. This forecast is 4.1 percent and
2.8 percent higher than MY06/07, respectively. Soybean meal continues to
dominate the oil meal complex, accounting for 68 percent of total meal
production followed by rapeseed meal (16 percent) and cottonseed meal (9
percent). Total oil meal supply in MY07/08 is forecast at 48.3 MMT, up
1.8 MMT or 3.9 percent over the estimate for MY06/07. Fishmeal continues
to be the largest protein meal imported with an annual volume at about
one MMT, while trade of other protein meals remains insignificant.

## Soybean Meal

### Production and Consumption

Soybean meal (SBM) production in MY07/08 is projected at 31.6 MMT, up
seven percent from the estimated 29.5 MMT in MY06/07. Growing demand for
animal products will drive SBM production and consumption in MY07/08.
The following table shows China's production of animal products and
industrialized feed from 2002 to 2006. The annual feed production growth
rate averaged nearly six percent. According to MOA, feed production
reached 107 MMT in 2005, up 11 percent over the previous year. Industry
sources indicate that the rapid growth of industrialized feed production
confirms studies that show commercial feed based animal husbandry is
replacing traditional feeding practices. Preliminary estimated feed
production in 2006 is 109 MMT, up two percent over the previous year.
The reduced growth is mainly attributable to the outbreak of avian
influenza (AI). Currently, broiler and layer production has the highest
commercial feed usage rate.

According to MOA, in the first half of 2006, feed production was
estimated at 43 MMT, down 9.2 percent as compared with the same period
of 2005. Feed production for swine, layers and broilers was down 15, 7
and 13 percent, respectively. Feed for aquaculture and ruminants was up
seven and ten percent. Industry analysts estimate that feed production
in the last quarter of 2006 picked up in significantly in response to
the price recovery for most animal products. In general, the strong
growth of the animal production sector will continue to drive feed
production in MY07/08, demanding corresponding soybean or SBM imports.
The "Five-Year (2006-2010) Plan on Development of Feed Industry" set the
target for feed production at 131 MMT in 2010, with annual average
growth rate of 4.5 percent.

Production of Animal Products and Industrialized Feed from 2002-2006 (in
million MT)

+-------------+--------+-------+------+-------+------+------+--------+
| Year        | 2002\* | 2     | 20   | 2     | 2006 | Ch   | Av     |
|             |        | 003\* | 04\* | 005\* | \*\* | ange | eraged |
|             |        |       |      |       |      |      | Growth |
|             |        |       |      |       |      | 0    | %      |
|             |        |       |      |       |      | 6/05 |        |
+-------------+--------+-------+------+-------+------+------+--------+
| All Meat    | 65.86  | 69.3  | 7    | 77.43 | 80.9 | 4.5  | 4.8    |
|             |        |       | 2.44 |       |      |      |        |
+-------------+--------+-------+------+-------+------+------+--------+
| Eggs        | 24.63  | 26.07 | 2    | 28.79 | 29.5 | 2.5  | 4.5    |
|             |        |       | 7.24 |       |      |      |        |
+-------------+--------+-------+------+-------+------+------+--------+
| Milk        | 14     | 18.48 | 2    | 28.65 | 32.9 | 14.8 | 23.7   |
|             |        |       | 3.68 |       |      |      |        |
+-------------+--------+-------+------+-------+------+------+--------+
| Cultured    | 29.07  | 30.27 | 3    | 33.95 | 34.5 | 1.6  | 4.45   |
| aquatic     |        |       | 2.09 |       |      |      |        |
| products    |        |       |      |       |      |      |        |
+-------------+--------+-------+------+-------+------+------+--------+
| Industry    | 83.19  | 87.12 | 96.6 | 107   | 109  | 2    | 5.75   |
| feed        |        |       |      |       |      |      |        |
| production  |        |       |      |       |      |      |        |
+-------------+--------+-------+------+-------+------+------+--------+

Source: \* NSB 2006 Statistics Yearbook Table 13-21/22 and China Animal
Husbandry Yearbook; \*\* Data for 2006 NSB Jan News briefing and Post
estimates

China's per capita expenditures for animal proteins (including all
meats, poultry, eggs and aquatic products) for 2005 averaged US\$103, up
8.7 percent over the previous year. Spending varies widely among
regions, with the highest spending in Guangdong (US\$187) and the lowest
in Shanxi province (US\$49). Large cities and a few coastal provinces
are well above average and skew the national median expenditure; most
regions lie well below the national average.

2005 Urban Per Capita Expenditures for Animal products in Selected
Provinces (in US\$)

![](media/image2.wmf)

Source: NSB 2006 China Statistics Yearbook/Pages 358 & 359

In addition, the average difference between per capita yearly
consumption of animal products in urban and rural areas remains large
(more than 20 Kg). However, the consumption difference declined markedly
in 2005, from 24.5 Kg in 2002 to 21 Kg. The consumption of milk and
related products remained very low among the rural population (2.9 Kg)
in 2005 as compared to the urban population (17.9 Kg). These differences
illustrate the great potential increases in animal protein consumption
by the 745 million rural people (out of the total 1,307 million) as
incomes rise. Overall increases are also fueled by urbanization and
remittances to rural areas. In general, the potential demand for protein
food remains huge, especially in the inland rural provinces. As incomes
permit the realization of new food patterns, it will drive demand for
protein meals, especially SBM.

Comparison of Rural and Urban Per Capita Consumption of Animal Products
(Kg)

![](media/image3.wmf)

Comparison of Rural and Urban Per Capita Consumption of Milk Products
(Kg)

![](media/image4.wmf)

Source: NSB 2006 China Statistics Yearbook/Page 353 & 377; Note: Animal
products include pork, beef and mutton, poultry and eggs and aquatic
products.

### Trade

SBM imports in MY07/08 are forecast at 500,000 MT, the same as MY06/07.
SBM imports increased rapidly to 836,000 MT in MY05/06, eleven times
more than the previous year. India was the largest supplier, accounting
for 78 percent of China's total SBM imports in MY05/06. China became a
net SBM importer in MY05/06, despite being a net exporter the five
previous years. This sharp increase was driven by low priced SBM from
India and Argentina and the elimination of the 5 percent import tariff
on Indian SBM (based on an Asian-Pacific Trade Agreement). Industry
sources indicate that Indian SBM is usually priced 100 to 150 RMB/MT
lower than other imported meals but is of poorer palatability than
domestically crushed SBM. Guangdong accounted for 60 percent of total
SBM imports in MY05/06. However, extensive SBM imports are unlikely in
MY06/07 and MY07/08 due to China's excess soybean crushing capacity.

SBM exports fell to 330,000 MT in MY05/06 from 633,000 MT in the
previous year. Japan remained the largest buyer, accounting for 83
percent of China SBM exports in MY05/06. Industry analysts expect
sporadic imports and exports of SBM as traders take advantage of
regional or local price differences and China exports non-GMO SBM. The
trade volume will remain insignificant compared to China's 52 MMT
soybean supply.

## Fishmeal

Fishmeal imports for 2007 are forecast at 1.1 MMT, up from 980,000 MT in
2006, but lower than the 1.58 MMT imported in 2005. Between May and
March 2006, fishmeal prices skyrocketed from \$850 to more than \$1,300
per metric ton. High prices continued through late July before falling
back to \$1,000 per metric ton. As a result, consumption for 2006 is
expected to drop to 1.2 MMT, compared to 1.6 MMT the previous year. Feed
industry sources reported that other protein meals were added as
substitutes in order to reduce costs. Domestic fishmeal production
stands at about 300,000 MT per year. Imports for 2007 are likely to
recover moderately given the demand by large-scale animal and
aquaculture industries, though price and fishmeal availability will
constrain imports. Global fishmeal production for 2007 is forecast to
remain stable at 5.25 MMT and price is therefore likely to stay high in
the coming years. High prices for fishmeal will be a marketing
opportunity for soy meal and other meals that can act as a partial
substitute.

## Cottonseed Meal

Cottonseed meal production for MY07/08 is forecast to decrease to 4.0
MMT from 4.4 MMT in MY06/07. The high cottonseed meal production in
MY06/07 is attributed to a record cotton yield. Preliminary planting
intention surveys show that cotton area in 2007 is likely to rise
slightly but the total cotton production is forecast to fall to about
6.3 MMT based on average yield. As China is the world's largest cotton
and textile producer, the GOC maintains a policy to encourage a stable
cotton area. 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

Total vegetable oil production for MY07/08 is forecast at 15.2 MMT, up
430,000 MT from the MY06/07 estimate. Soybean oil continues to be the
number one vegetable oil produced in China, accounting for 47 percent of
total oil production, followed by rapeseed oil (28 percent), peanut oil
(14 percent), cottonseed oil (9 percent), and sunflower seed oil (2
percent). Total oil imports for MY07/08 are forecast to increase from
7.5 MMT to 7.8. The MY07/08 total oil supply is forecast at 23.3 MMT.

2005 Per Capita Expenditure for Dinning Out by Urban Residents

in Selected Provinces (in US\$)

![](media/image5.wmf)

Source: NSB 2006 China Price and Expenditures for Urban Population
Statistics

The MY07/08 total domestic food-use consumption of oils is forecast at
20.2 MMT, three percent more than MY06/07. This amounts to 15.7 kg per
person based on China's population of more than 1.3 billion. Note that
China's average consumption of vegetable oil remains 37 percent less
than Taiwan's 2005 per capita consumption of 25.1 kg (See FAS/Taiwan
report, TW7001). Even though China's oil consumption has grown rapidly
in recent years, there still is significant growth potential before it
reaches the level of Taiwan and other similar Asian markets. According
to NSB statistics, the per capita expenditures for dinning out by urban
residents averaged US\$76 in 2005, up 19 percent over the previous year.
The highest expenditures for dining out were Shanghai (US\$165) and the
lowest was Tibet (US\$35). (See table above). In addition, NSB's data
also shows that rural people consume 3 Kg less vegetable oil per capita
per year than urban people. With a 10.7 percent GDP growth in 2006, a
growing middle class that has more disposable income and eats more meals
outside the home, the long-term outlook for oil and oilseed imports
remains very bright.

On January 01, 2006, in compliance with its WTO commitments, China
eliminated the TRQ for vegetable oils (soy oil, palm oil and rapeseed
oil) and replaced it with an "automatic import licensing system" for the
purpose of monitoring imports (See CH6006/TRQ Table 27-29). Post knows
of no problem created by this administrative system.

On October 01, 2004, a national standard for soybean oil entered into
force. The standard stipulates that the hexane residue level in imported
crude soybean oil less than 100 mg/KG. Its impact on soybean oil trade
appears to be insignificant according to industry sources.

Palm oil is expected to consolidate recent gains in vegetable oil market
share, but the exportable supplies from Malaysia and Indonesia may limit
further growth. The share of palm oil increased to 75 percent from about
50 percent in MY03/04. The share of soybean oil dropped to 22 percent in
MY05/06 as China imported soybeans and utilized soy oil from the
domestic crush.

**China\'s Total Oils Imports by Origin (in MT) from MY03/04 to
MY05/06**

  ------------- ------------- ------------ ------------- ------------ ------------- ------------
  **Country**   **MY03/04**   **Share%**   **MY04/05**   **Share%**   **MY05/06**   **Share%**

  Malaysia      2,547,740     37%          3,035,188     46%          3,355,301     48%

  Indonesia     1,230,706     18%          1,624,071     25%          1,971,655     28%

  Argentina     1,874,194     27%          1,326,536     20%          1,196,873     17%

  Brazil        901,663       13%          400,931       6%           316,189       5%

  Canada        341,674       5%           208,786       3%           43,600        1%

  United States 1,240         0%           1,127         0%           3,147         0%

  Other         78,808        1%           22,093        0%           76,629        1%

  Total         6,976,023     100%         6,618,733     100%         6,963,394     100%
  ------------- ------------- ------------ ------------- ------------ ------------- ------------

The wholesale price for major oils remained low in the first half of
2006, but increased dramatically after September 2006. Compared with
January 2006, the wholesale prices in December surged by 46, 55 and 35
percent for soybean oil, rapeseed oil and palm oil, respectively. The
price rise for oils is mainly in response to rise in international
oilseed prices in fall 2006 and the widely reported demand of the
bio-fuel industry. However, price growth in vegetable oils is expected
to have little impact on consumption growth.

## Soybean Oil

The MY07/08 soybean oil production forecast is 6.9 MMT, up 4.5 percent
from last year's estimate. MY07/08 imports are forecast at 2 MMT,
slightly higher than the estimated 1.9 MMT for MY06/07. Soybean oil
imports are forecast to increase in MY06/07 and MY07/08, while
production of vegetable oils from domestic oilseeds (rapeseed and peanut
oils) will remain stable.

China\'s Soybean Oil Imports by Origin (in MT) from MY03/04 to MY05/06

  ------------- ------------- ------------ ------------- ------------ ------------- ------------
  **Country**   **MY03/04**   **Share%**   **MY04/05**   **Share%**   **MY05/06**   **Share%**

  Argentina     1,826,618     67%          1,326,169     77%          1,193,070     79%

  Brazil        901,663       33%          400,931       23%          316,176       21%

  Japan         51            0%           40            0%           4,029         0%

  United States 3             0%           800           0%           2,804         0%

  Other         324           0%           264           0%           160           0%

  Total         2,728,659     100%         1,728,205     100%         1,516,238     100%
  ------------- ------------- ------------ ------------- ------------ ------------- ------------

## Palm Oil

Palm oil imports are forecast to increase to 5.6 MMT in MY07/08 from the
estimated 5.3 MMT in MY05/06. Demand for palm oil is very strong because
it remains cheaper than soybean oil. In 2006, the soybean oil price
averaged 10 to 32 percent higher than palm oil. Blending palm oil with
other vegetable oils and selling it as cooking oil remains popular.
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. Industry sources show that instant noodle
production grew to 2 MMT in the first half of 2006, up 38 percent over
the same period of 2005. Ready-to-eat noodles are popular with
travelers, migrant 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.

Palm oil demand can only be supplied by imports because it is not
produced in China. China's close proximity to Malaysia and other major
palm oil producers gives palm oil the advantage of lower shipping costs
relative to other oils. However, the planned expansion of Southeast
Asian biodiesel capacity using palm oil as a feed stock creates some
uncertainty regarding the future supplies of exportable palm oil in
Indonesia and Malaysia. This local biodiesel demand and demand for
vegetable oils for biodiesel in Europe may pose a considerable challenge
to increasing China's imports of vegetable oils.

# Statistical Tables

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

### Table 1. Total Oilseeds

<table style="width:100%;">
<colgroup>
<col style="width: 17%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><strong>PSD Table</strong></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><p id="country-1" class="heading">Country</p></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><p id="commodity" class="heading">Commodity</p></td>
<td colspan="9"><strong>Total Oilseeds</strong> (1000 MT) (1000 HA)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td>10/2005</td>
<td></td>
<td></td>
<td>10/2006</td>
<td></td>
<td></td>
<td>10/2007</td>
<td></td>
<td></td>
</tr>
<tr class="odd">
<td>Area Planted</td>
<td>21100</td>
<td>28800</td>
<td>28242</td>
<td>21200</td>
<td>28750</td>
<td>27100</td>
<td>0</td>
<td>0</td>
<td>27400</td>
</tr>
<tr class="even">
<td>Area Harvested</td>
<td>27613</td>
<td>28600</td>
<td>28122</td>
<td>27550</td>
<td>28750</td>
<td>27100</td>
<td>0</td>
<td>0</td>
<td>27400</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>4700</td>
<td>3339</td>
<td>4700</td>
<td>4473</td>
<td>3589</td>
<td>4063</td>
<td>3973</td>
<td>3639</td>
<td>3363</td>
</tr>
<tr class="even">
<td>Production</td>
<td>55937</td>
<td>56200</td>
<td>55067</td>
<td>56700</td>
<td>56650</td>
<td>55700</td>
<td>0</td>
<td>0</td>
<td>55200</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>28997</td>
<td>27104</td>
<td>29000</td>
<td>32304</td>
<td>28903</td>
<td>32106</td>
<td>0</td>
<td>0</td>
<td>35005</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>9700</td>
<td>10002</td>
<td>9700</td>
<td>10000</td>
<td>10500</td>
<td>10500</td>
<td>0</td>
<td>0</td>
<td>10500</td>
</tr>
<tr class="odd">
<td>MY Imp. from the EC</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><p id="total-supply" class="heading">TOTAL SUPPLY</p></td>
<td><strong>89634</strong></td>
<td><strong>86643</strong></td>
<td><strong>88767</strong></td>
<td><strong>93477</strong></td>
<td><strong>89142</strong></td>
<td><strong>91869</strong></td>
<td><strong>3973</strong></td>
<td><strong>3639</strong></td>
<td><strong>93568</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>1254</td>
<td>1669</td>
<td>1320</td>
<td>1390</td>
<td>1615</td>
<td>1225</td>
<td>0</td>
<td>0</td>
<td>1310</td>
</tr>
<tr class="even">
<td>MY Exp. to the EC</td>
<td>0</td>
<td>290</td>
<td>0</td>
<td>0</td>
<td>310</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Crush Dom. Consumption</td>
<td>64469</td>
<td>61639</td>
<td>63480</td>
<td>67790</td>
<td>64033</td>
<td>67091</td>
<td>0</td>
<td>0</td>
<td>68945</td>
</tr>
<tr class="even">
<td>Food Use Dom. Consump.</td>
<td>14546</td>
<td>14795</td>
<td>14902</td>
<td>14809</td>
<td>14870</td>
<td>15200</td>
<td>0</td>
<td>0</td>
<td>15360</td>
</tr>
<tr class="odd">
<td>Feed,Seed,Waste Dm.Cn.</td>
<td>4892</td>
<td>4951</td>
<td>5002</td>
<td>5515</td>
<td>4985</td>
<td>4990</td>
<td>0</td>
<td>0</td>
<td>5040</td>
</tr>
<tr class="even">
<td>TOTAL Dom. Consumption</td>
<td>83907</td>
<td>81385</td>
<td>83384</td>
<td>88114</td>
<td>83888</td>
<td>87281</td>
<td>0</td>
<td>0</td>
<td>88345</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>4473</td>
<td>3589</td>
<td>4063</td>
<td>3973</td>
<td>3639</td>
<td>3363</td>
<td>0</td>
<td>0</td>
<td>2913</td>
</tr>
<tr class="even">
<td><strong>TOTAL DISTRIBUTION</strong></td>
<td><strong>89634</strong></td>
<td><strong>86643</strong></td>
<td><strong>88767</strong></td>
<td><strong>93477</strong></td>
<td><strong>89142</strong></td>
<td><strong>91869</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>93568</strong></td>
</tr>
<tr class="odd">
<td>Calendar Year Imports</td>
<td>29025</td>
<td>26893</td>
<td>29025</td>
<td>31804</td>
<td>27903</td>
<td>31804</td>
<td>0</td>
<td>0</td>
<td>32700</td>
</tr>
<tr class="even">
<td>Calendar Yr Imp. U.S.</td>
<td>9885</td>
<td>11050</td>
<td>9885</td>
<td>14000</td>
<td>11000</td>
<td>11000</td>
<td>0</td>
<td>0</td>
<td>11500</td>
</tr>
<tr class="odd">
<td>Calendar Year Exports</td>
<td>1299</td>
<td>1466</td>
<td>1299</td>
<td>1420</td>
<td>1500</td>
<td>1420</td>
<td>0</td>
<td>0</td>
<td>1200</td>
</tr>
<tr class="even">
<td>Calndr Yr Exp. to U.S.</td>
<td>0</td>
<td>42</td>
<td>2</td>
<td>0</td>
<td>50</td>
<td>2</td>
<td>0</td>
<td>0</td>
<td>2</td>
</tr>
</tbody>
</table>

### Table 2. Total Meals

<table>
<colgroup>
<col style="width: 17%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 7%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Total Meal</strong> (1000 MT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Estimate</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>64469</td>
<td>61639</td>
<td>61359</td>
<td>67790</td>
<td>64033</td>
<td>67091</td>
<td>0</td>
<td>0</td>
<td>68945</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td>0</td>
<td>0</td>
<td></td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>42777</td>
<td>40939</td>
<td>41420</td>
<td>45263</td>
<td>42151</td>
<td>44682</td>
<td>0</td>
<td>0</td>
<td>46459</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>2183</td>
<td>1621</td>
<td>2575</td>
<td>1675</td>
<td>371</td>
<td>1765</td>
<td>0</td>
<td>0</td>
<td>1886</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>85</td>
<td>80</td>
<td>85</td>
<td>62</td>
<td>0</td>
<td>62</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from the EC</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>TOTAL SUPPLY</strong></td>
<td><strong>44960</strong></td>
<td><strong>42560</strong></td>
<td><strong>43995</strong></td>
<td><strong>46938</strong></td>
<td><strong>42522</strong></td>
<td><strong>46447</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>48345</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>477</td>
<td>757</td>
<td>423</td>
<td>570</td>
<td>658</td>
<td>630</td>
<td>0</td>
<td>0</td>
<td>591</td>
</tr>
<tr class="even">
<td>MY Exp. to the EC</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Consum</td>
<td>1290</td>
<td>1311</td>
<td>1310</td>
<td>1300</td>
<td>1330</td>
<td>1330</td>
<td>0</td>
<td>0</td>
<td>1350</td>
</tr>
<tr class="even">
<td>Food Use Dom. Consump.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Consum</td>
<td>43193</td>
<td>40492</td>
<td>42307</td>
<td>45068</td>
<td>40534</td>
<td>44487</td>
<td>0</td>
<td>0</td>
<td>46404</td>
</tr>
<tr class="even">
<td>TOTAL Dom. Consumption</td>
<td>44483</td>
<td>41803</td>
<td>43572</td>
<td>46368</td>
<td>41864</td>
<td>45817</td>
<td>0</td>
<td>0</td>
<td>47754</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>TOTAL DISTRIBUTION</strong></td>
<td><strong>44960</strong></td>
<td><strong>42560</strong></td>
<td><strong>43995</strong></td>
<td><strong>46938</strong></td>
<td><strong>42522</strong></td>
<td><strong>46447</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>48345</strong></td>
</tr>
<tr class="odd">
<td>Calendar Year Imports</td>
<td>749</td>
<td>1340</td>
<td>789</td>
<td>115</td>
<td>100</td>
<td>715</td>
<td>0</td>
<td>0</td>
<td>650</td>
</tr>
<tr class="even">
<td>Calendar Yr Imp. U.S.</td>
<td>0</td>
<td>80</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Calendar Year Exports</td>
<td>407</td>
<td>785</td>
<td>527</td>
<td>405</td>
<td>655</td>
<td>460</td>
<td>0</td>
<td>0</td>
<td>460</td>
</tr>
<tr class="even">
<td>Calndr Yr Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 3. Total Oils

<table>
<colgroup>
<col style="width: 17%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-1" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Total Oils</strong> (1000 MT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td>10/2005</td>
<td></td>
<td></td>
<td>10/2006</td>
<td></td>
<td></td>
<td>10/2007</td>
<td></td>
<td></td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>64469</td>
<td>61639</td>
<td>63480</td>
<td>67790</td>
<td>64033</td>
<td>67091</td>
<td>0</td>
<td>0</td>
<td>68945</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>247</td>
<td>220</td>
<td>247</td>
<td>200</td>
<td>200</td>
<td>200</td>
<td>220</td>
<td>220</td>
<td>250</td>
</tr>
<tr class="even">
<td>Production</td>
<td>14696</td>
<td>13776</td>
<td>14540</td>
<td>15174</td>
<td>14262</td>
<td>14799</td>
<td>0</td>
<td>0</td>
<td>15226</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>6712</td>
<td>7656</td>
<td>6712</td>
<td>7450</td>
<td>7967</td>
<td>7460</td>
<td>0</td>
<td>0</td>
<td>7830</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>5</td>
<td>4</td>
<td>0</td>
<td>10</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from the EC</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>TOTAL SUPPLY</strong></td>
<td><strong>21655</strong></td>
<td><strong>21652</strong></td>
<td><strong>21499</strong></td>
<td><strong>22824</strong></td>
<td><strong>22429</strong></td>
<td><strong>22459</strong></td>
<td><strong>220</strong></td>
<td><strong>220</strong></td>
<td><strong>23296</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>253</td>
<td>150</td>
<td>253</td>
<td>340</td>
<td>120</td>
<td>250</td>
<td>0</td>
<td>0</td>
<td>162</td>
</tr>
<tr class="even">
<td>MY Exp. to the EC</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Consum</td>
<td>1900</td>
<td>1820</td>
<td>1900</td>
<td>2150</td>
<td>1870</td>
<td>2100</td>
<td>0</td>
<td>0</td>
<td>2250</td>
</tr>
<tr class="even">
<td>Food Use Dom. Consump.</td>
<td>19302</td>
<td>19482</td>
<td>19146</td>
<td>20114</td>
<td>20209</td>
<td>19859</td>
<td>0</td>
<td>0</td>
<td>20634</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Consum</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>TOTAL Dom. Consumption</td>
<td>21202</td>
<td>21302</td>
<td>21046</td>
<td>22264</td>
<td>22079</td>
<td>21959</td>
<td>0</td>
<td>0</td>
<td>22884</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>200</td>
<td>200</td>
<td>200</td>
<td>220</td>
<td>230</td>
<td>250</td>
<td>0</td>
<td>0</td>
<td>250</td>
</tr>
<tr class="even">
<td><strong>TOTAL DISTRIBUTION</strong></td>
<td><strong>21655</strong></td>
<td><strong>21652</strong></td>
<td><strong>21499</strong></td>
<td><strong>22824</strong></td>
<td><strong>22429</strong></td>
<td><strong>22459</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>23296</strong></td>
</tr>
<tr class="odd">
<td>Calendar Year Imports</td>
<td>180</td>
<td>6515</td>
<td>1723</td>
<td>140</td>
<td>7350</td>
<td>6840</td>
<td>0</td>
<td>0</td>
<td>6350</td>
</tr>
<tr class="even">
<td>Calendar Yr Imp. U.S.</td>
<td>0</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>10</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>6</td>
</tr>
<tr class="odd">
<td>Calendar Year Exports</td>
<td>0</td>
<td>93</td>
<td>149</td>
<td>0</td>
<td>75</td>
<td>264</td>
<td>0</td>
<td>0</td>
<td>220</td>
</tr>
<tr class="even">
<td>Calndr Yr Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

## Oilseeds PSD Tables

## 

### Table 4. Soybeans

## 

<table>
<colgroup>
<col style="width: 14%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-2" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oilseed, Soybean</strong> (1000 HA)(1000
MT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td>10/2005</td>
<td></td>
<td></td>
<td>10/2006</td>
<td></td>
<td></td>
<td>10/2007</td>
<td></td>
<td></td>
</tr>
<tr class="odd">
<td>Area Planted</td>
<td>9500</td>
<td>10000</td>
<td>9600</td>
<td>9300</td>
<td>9900</td>
<td>9300</td>
<td>0</td>
<td>0</td>
<td>9200</td>
</tr>
<tr class="even">
<td>Area Harvested</td>
<td>9591</td>
<td>10000</td>
<td>9600</td>
<td>9300</td>
<td>9900</td>
<td>9300</td>
<td>0</td>
<td>0</td>
<td>9200</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>4700</td>
<td>3339</td>
<td>4700</td>
<td>4473</td>
<td>3589</td>
<td>4063</td>
<td>3973</td>
<td>3639</td>
<td>3363</td>
</tr>
<tr class="even">
<td>Production</td>
<td>16350</td>
<td>18300</td>
<td>16350</td>
<td>16200</td>
<td>18000</td>
<td>16000</td>
<td>0</td>
<td>0</td>
<td>16000</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>28317</td>
<td>26800</td>
<td>28317</td>
<td>31500</td>
<td>28500</td>
<td>31500</td>
<td>0</td>
<td>0</td>
<td>34500</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>9700</td>
<td>10000</td>
<td>9700</td>
<td>10000</td>
<td>10500</td>
<td>10500</td>
<td>0</td>
<td>0</td>
<td>10500</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>49367</strong></td>
<td><strong>48439</strong></td>
<td><strong>49367</strong></td>
<td><strong>52173</strong></td>
<td><strong>50089</strong></td>
<td><strong>51563</strong></td>
<td><strong>3973</strong></td>
<td><strong>3639</strong></td>
<td><strong>53863</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>354</td>
<td>400</td>
<td>354</td>
<td>350</td>
<td>400</td>
<td>400</td>
<td>0</td>
<td>0</td>
<td>450</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>34500</td>
<td>34000</td>
<td>34500</td>
<td>37500</td>
<td>35200</td>
<td>37300</td>
<td>0</td>
<td>0</td>
<td>39900</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>8300</td>
<td>8600</td>
<td>8600</td>
<td>8650</td>
<td>9000</td>
<td>8750</td>
<td>0</td>
<td>0</td>
<td>8850</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>1740</td>
<td>1850</td>
<td>1850</td>
<td>1700</td>
<td>1850</td>
<td>1750</td>
<td>0</td>
<td>0</td>
<td>1750</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>44540</td>
<td>44450</td>
<td>44950</td>
<td>47850</td>
<td>46050</td>
<td>47800</td>
<td>0</td>
<td>0</td>
<td>50500</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>4473</td>
<td>3589</td>
<td>4063</td>
<td>3973</td>
<td>3639</td>
<td>3363</td>
<td>0</td>
<td>0</td>
<td>2913</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>49367</strong></td>
<td><strong>48439</strong></td>
<td><strong>49367</strong></td>
<td><strong>52173</strong></td>
<td><strong>50089</strong></td>
<td><strong>51563</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>53863</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>28284</td>
<td>26590</td>
<td>28284</td>
<td>31000</td>
<td>27500</td>
<td>31000</td>
<td>0</td>
<td>0</td>
<td>32000</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>9885</td>
<td>11048</td>
<td>9885</td>
<td>14000</td>
<td>11000</td>
<td>11000</td>
<td>0</td>
<td>0</td>
<td>11500</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>360</td>
<td>396</td>
<td>360</td>
<td>350</td>
<td>400</td>
<td>350</td>
<td>0</td>
<td>0</td>
<td>400</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>42</td>
<td>2</td>
<td>0</td>
<td>50</td>
<td>2</td>
<td>0</td>
<td>0</td>
<td>2</td>
</tr>
</tbody>
</table>

##   

### Table 5. Rapeseed

## 

<table>
<colgroup>
<col style="width: 14%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-3" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oilseed, Rapeseed</strong> (1000 HA)(1000
MT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td>10/2005</td>
<td></td>
<td></td>
<td>10/2006</td>
<td></td>
<td></td>
<td>10/2007</td>
<td></td>
<td></td>
</tr>
<tr class="odd">
<td>Area Planted</td>
<td>0</td>
<td>7500</td>
<td>7279</td>
<td>0</td>
<td>7450</td>
<td>6700</td>
<td>0</td>
<td>0</td>
<td>6800</td>
</tr>
<tr class="even">
<td>Area Harvested</td>
<td>7279</td>
<td>7500</td>
<td>7279</td>
<td>7200</td>
<td>7450</td>
<td>6700</td>
<td>0</td>
<td>0</td>
<td>6800</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>13050</td>
<td>11300</td>
<td>13050</td>
<td>12500</td>
<td>11500</td>
<td>12000</td>
<td>0</td>
<td>0</td>
<td>12200</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>676</td>
<td>300</td>
<td>676</td>
<td>800</td>
<td>400</td>
<td>600</td>
<td>0</td>
<td>0</td>
<td>500</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>13726</strong></td>
<td><strong>11600</strong></td>
<td><strong>13726</strong></td>
<td><strong>13300</strong></td>
<td><strong>11900</strong></td>
<td><strong>12600</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>12700</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>0</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>13056</td>
<td>10935</td>
<td>13056</td>
<td>12700</td>
<td>11240</td>
<td>12000</td>
<td>0</td>
<td>0</td>
<td>12080</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>670</td>
<td>660</td>
<td>670</td>
<td>600</td>
<td>660</td>
<td>600</td>
<td>0</td>
<td>0</td>
<td>620</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>13726</td>
<td>11595</td>
<td>13726</td>
<td>13300</td>
<td>11900</td>
<td>12600</td>
<td>0</td>
<td>0</td>
<td>12700</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>13726</strong></td>
<td><strong>11600</strong></td>
<td><strong>13726</strong></td>
<td><strong>13300</strong></td>
<td><strong>11900</strong></td>
<td><strong>12600</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>12700</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>737</td>
<td>298</td>
<td>737</td>
<td>800</td>
<td>400</td>
<td>800</td>
<td>0</td>
<td>0</td>
<td>700</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 6. Peanuts

## 

<table>
<colgroup>
<col style="width: 14%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-4" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oilseed, Peanut</strong> (1000 HA)(1000 MT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td>10/2005</td>
<td></td>
<td></td>
<td>10/2006</td>
<td></td>
<td></td>
<td>10/2007</td>
<td></td>
<td></td>
</tr>
<tr class="odd">
<td>Area Planted</td>
<td>5400</td>
<td>5000</td>
<td>5163</td>
<td>5400</td>
<td>4900</td>
<td>4700</td>
<td>0</td>
<td>0</td>
<td>4800</td>
</tr>
<tr class="even">
<td>Area Harvested</td>
<td>4663</td>
<td>5000</td>
<td>5163</td>
<td>4600</td>
<td>4900</td>
<td>4700</td>
<td>0</td>
<td>0</td>
<td>4800</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>14340</td>
<td>14700</td>
<td>14340</td>
<td>14000</td>
<td>14600</td>
<td>14000</td>
<td>0</td>
<td>0</td>
<td>14200</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>2</td>
<td>1</td>
<td>5</td>
<td>2</td>
<td>1</td>
<td>4</td>
<td>0</td>
<td>0</td>
<td>5</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>14342</strong></td>
<td><strong>14701</strong></td>
<td><strong>14345</strong></td>
<td><strong>14002</strong></td>
<td><strong>14601</strong></td>
<td><strong>14004</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>14205</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>784</td>
<td>1150</td>
<td>850</td>
<td>920</td>
<td>1100</td>
<td>750</td>
<td>0</td>
<td>0</td>
<td>800</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>250</td>
<td>0</td>
<td>0</td>
<td>260</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>7241</td>
<td>7200</td>
<td>7122</td>
<td>6887</td>
<td>7511</td>
<td>6704</td>
<td>0</td>
<td>0</td>
<td>6775</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>5497</td>
<td>5501</td>
<td>5553</td>
<td>5420</td>
<td>5150</td>
<td>5700</td>
<td>0</td>
<td>0</td>
<td>5750</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>820</td>
<td>850</td>
<td>820</td>
<td>775</td>
<td>840</td>
<td>850</td>
<td>0</td>
<td>0</td>
<td>880</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>13558</td>
<td>13551</td>
<td>13495</td>
<td>13082</td>
<td>13501</td>
<td>13254</td>
<td>0</td>
<td>0</td>
<td>13405</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>14342</strong></td>
<td><strong>14701</strong></td>
<td><strong>14345</strong></td>
<td><strong>14002</strong></td>
<td><strong>14601</strong></td>
<td><strong>14004</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>14205</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>2</td>
<td>1</td>
<td>2</td>
<td>2</td>
<td>1</td>
<td>2</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>820</td>
<td>1000</td>
<td>820</td>
<td>950</td>
<td>1000</td>
<td>950</td>
<td>0</td>
<td>0</td>
<td>800</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 7. Sunflower Seed

## 

<table>
<colgroup>
<col style="width: 14%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-5" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oilseed, Sunflower Seed</strong> (1000 HA)(1000
MT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td>10/2005</td>
<td></td>
<td></td>
<td>10/2006</td>
<td></td>
<td></td>
<td>10/2007</td>
<td></td>
<td></td>
</tr>
<tr class="odd">
<td>Area Planted</td>
<td>1100</td>
<td>1100</td>
<td>1100</td>
<td>1100</td>
<td>1100</td>
<td>1000</td>
<td>0</td>
<td>0</td>
<td>1100</td>
</tr>
<tr class="even">
<td>Area Harvested</td>
<td>1020</td>
<td>1000</td>
<td>1020</td>
<td>1100</td>
<td>1100</td>
<td>1000</td>
<td>0</td>
<td>0</td>
<td>1100</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>1927</td>
<td>1700</td>
<td>1927</td>
<td>1900</td>
<td>1750</td>
<td>1700</td>
<td>0</td>
<td>0</td>
<td>1800</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>2</td>
<td>3</td>
<td>2</td>
<td>2</td>
<td>2</td>
<td>2</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>2</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>1929</strong></td>
<td><strong>1703</strong></td>
<td><strong>1929</strong></td>
<td><strong>1902</strong></td>
<td><strong>1752</strong></td>
<td><strong>1702</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>1800</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>113</td>
<td>110</td>
<td>113</td>
<td>115</td>
<td>110</td>
<td>70</td>
<td>0</td>
<td>0</td>
<td>60</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>40</td>
<td>0</td>
<td>0</td>
<td>50</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>972</td>
<td>804</td>
<td>972</td>
<td>953</td>
<td>832</td>
<td>792</td>
<td>0</td>
<td>0</td>
<td>890</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>749</td>
<td>694</td>
<td>749</td>
<td>739</td>
<td>720</td>
<td>750</td>
<td>0</td>
<td>0</td>
<td>760</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>95</td>
<td>95</td>
<td>95</td>
<td>95</td>
<td>90</td>
<td>90</td>
<td>0</td>
<td>0</td>
<td>90</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>1816</td>
<td>1593</td>
<td>1816</td>
<td>1787</td>
<td>1642</td>
<td>1632</td>
<td>0</td>
<td>0</td>
<td>1740</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>1929</strong></td>
<td><strong>1703</strong></td>
<td><strong>1929</strong></td>
<td><strong>1902</strong></td>
<td><strong>1752</strong></td>
<td><strong>1702</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>1800</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>2</td>
<td>4</td>
<td>2</td>
<td>2</td>
<td>2</td>
<td>2</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>2</td>
<td>0</td>
<td>0</td>
<td>2</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>115</td>
<td>70</td>
<td>115</td>
<td>115</td>
<td>100</td>
<td>115</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 8. Cotton Seeds

## 

<table>
<colgroup>
<col style="width: 14%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><strong>PSD Table</strong></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oilseed, Cottonseed</strong> (1000
HA)(RATIO)(1000 MT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td>10/2005</td>
<td></td>
<td></td>
<td>10/2006</td>
<td></td>
<td></td>
<td>10/2007</td>
<td></td>
<td></td>
</tr>
<tr class="odd">
<td>Area Planted (Cotton)</td>
<td>5100</td>
<td>5200</td>
<td>5100</td>
<td>5400</td>
<td>5400</td>
<td>5400</td>
<td>0</td>
<td>0</td>
<td>5500</td>
</tr>
<tr class="even">
<td>Area Harvested (Cotton)</td>
<td>5060</td>
<td>5100</td>
<td>5060</td>
<td>5350</td>
<td>5400</td>
<td>5400</td>
<td>0</td>
<td>0</td>
<td>5500</td>
</tr>
<tr class="odd">
<td>Seed to Lint Ratio</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Production</td>
<td>10270</td>
<td>10200</td>
<td>9400</td>
<td>12100</td>
<td>10800</td>
<td>12000</td>
<td>0</td>
<td>0</td>
<td>11000</td>
</tr>
<tr class="even">
<td>MY Imports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td><strong>Total Supply</strong></td>
<td><strong>10270</strong></td>
<td><strong>10200</strong></td>
<td><strong>9400</strong></td>
<td><strong>12100</strong></td>
<td><strong>10800</strong></td>
<td><strong>12000</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>11000</strong></td>
</tr>
<tr class="even">
<td>MY Exports</td>
<td>3</td>
<td>4</td>
<td>3</td>
<td>5</td>
<td>5</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Crush</td>
<td>8700</td>
<td>8700</td>
<td>7830</td>
<td>9750</td>
<td>9250</td>
<td>10295</td>
<td>0</td>
<td>0</td>
<td>9300</td>
</tr>
<tr class="odd">
<td>Food Use Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Feed Waste Dom. Cons.</td>
<td>1567</td>
<td>1496</td>
<td>1567</td>
<td>2345</td>
<td>1545</td>
<td>1700</td>
<td>0</td>
<td>0</td>
<td>1700</td>
</tr>
<tr class="odd">
<td>Total Dom. Cons.</td>
<td>10267</td>
<td>10196</td>
<td>9397</td>
<td>12095</td>
<td>10795</td>
<td>11995</td>
<td>0</td>
<td>0</td>
<td>11000</td>
</tr>
<tr class="even">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td><strong>Total Distribution</strong></td>
<td><strong>10270</strong></td>
<td><strong>10200</strong></td>
<td><strong>9400</strong></td>
<td><strong>12100</strong></td>
<td><strong>10800</strong></td>
<td><strong>12000</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>11000</strong></td>
</tr>
<tr class="even">
<td>CY Imports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exports</td>
<td>4</td>
<td>0</td>
<td>4</td>
<td>5</td>
<td>0</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

## Meals PSD Tables

## 

### Table 9. Soybean Meal

## 

<table style="width:100%;">
<colgroup>
<col style="width: 19%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-6" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Meal, Soybean</strong> (1000 MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td>10/2005</td>
<td></td>
<td></td>
<td>10/2006</td>
<td></td>
<td></td>
<td>10/2007</td>
<td></td>
<td></td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>34500</td>
<td>34000</td>
<td>34500</td>
<td>37500</td>
<td>35200</td>
<td>37300</td>
<td>0</td>
<td>0</td>
<td>39900</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0.7911884</td>
<td>0.7911764</td>
<td>0.8026086</td>
<td>0.792</td>
<td>0.7911931</td>
<td>0.7908847</td>
<td>0</td>
<td>0</td>
<td>0.79097</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>27296</td>
<td>26900</td>
<td>27690</td>
<td>29700</td>
<td>27850</td>
<td>29500</td>
<td>0</td>
<td>0</td>
<td>31560</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>837</td>
<td>250</td>
<td>837</td>
<td>50</td>
<td>250</td>
<td>500</td>
<td>0</td>
<td>0</td>
<td>500</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>28133</strong></td>
<td><strong>27150</strong></td>
<td><strong>28527</strong></td>
<td><strong>29750</strong></td>
<td><strong>28100</strong></td>
<td><strong>30000</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>32060</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>357</td>
<td>600</td>
<td>331</td>
<td>400</td>
<td>500</td>
<td>500</td>
<td>0</td>
<td>0</td>
<td>500</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>700</td>
<td>720</td>
<td>720</td>
<td>725</td>
<td>730</td>
<td>730</td>
<td>0</td>
<td>0</td>
<td>750</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>27076</td>
<td>25830</td>
<td>27476</td>
<td>28625</td>
<td>26870</td>
<td>28770</td>
<td>0</td>
<td>0</td>
<td>30810</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>27776</td>
<td>26550</td>
<td>28196</td>
<td>29350</td>
<td>27600</td>
<td>29500</td>
<td>0</td>
<td>0</td>
<td>31560</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>28133</strong></td>
<td><strong>27150</strong></td>
<td><strong>28527</strong></td>
<td><strong>29750</strong></td>
<td><strong>28100</strong></td>
<td><strong>30000</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>32060</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>674</td>
<td>50</td>
<td>674</td>
<td>50</td>
<td>50</td>
<td>500</td>
<td>0</td>
<td>0</td>
<td>500</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>397</td>
<td>650</td>
<td>397</td>
<td>400</td>
<td>600</td>
<td>400</td>
<td>0</td>
<td>0</td>
<td>400</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>SME</td>
<td>27776</td>
<td>26550</td>
<td>28196</td>
<td>29350</td>
<td>27600</td>
<td>29500</td>
<td>0</td>
<td>0</td>
<td>30770</td>
</tr>
</tbody>
</table>

### Table 10. Rapeseed Meal

<table>
<colgroup>
<col style="width: 14%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-7" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Meal, Rapeseed</strong> (1000 MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td>10/2005</td>
<td></td>
<td></td>
<td>10/2006</td>
<td></td>
<td></td>
<td>10/2007</td>
<td></td>
<td></td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>13056</td>
<td>10935</td>
<td>13056</td>
<td>12700</td>
<td>11240</td>
<td>12000</td>
<td>0</td>
<td>0</td>
<td>12080</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0.62867</td>
<td>0.62871</td>
<td>0.62867</td>
<td>0.6288</td>
<td>0.62864</td>
<td>0.62858</td>
<td>0</td>
<td>0</td>
<td>0.62839</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>8208</td>
<td>6875</td>
<td>8208</td>
<td>7986</td>
<td>7066</td>
<td>7543</td>
<td>0</td>
<td>0</td>
<td>7591</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>182</td>
<td>45</td>
<td>182</td>
<td>200</td>
<td>50</td>
<td>200</td>
<td>0</td>
<td>0</td>
<td>200</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>8390</strong></td>
<td><strong>6920</strong></td>
<td><strong>8390</strong></td>
<td><strong>8186</strong></td>
<td><strong>7116</strong></td>
<td><strong>7743</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>7791</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>70</td>
<td>50</td>
<td>70</td>
<td>80</td>
<td>50</td>
<td>80</td>
<td>0</td>
<td>0</td>
<td>40</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>370</td>
<td>370</td>
<td>370</td>
<td>350</td>
<td>375</td>
<td>375</td>
<td>0</td>
<td>0</td>
<td>375</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>7950</td>
<td>6500</td>
<td>7950</td>
<td>7756</td>
<td>6691</td>
<td>7288</td>
<td>0</td>
<td>0</td>
<td>7376</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>8320</td>
<td>6870</td>
<td>8320</td>
<td>8106</td>
<td>7066</td>
<td>7663</td>
<td>0</td>
<td>0</td>
<td>7751</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>8390</strong></td>
<td><strong>6920</strong></td>
<td><strong>8390</strong></td>
<td><strong>8186</strong></td>
<td><strong>7116</strong></td>
<td><strong>7743</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>7791</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>0</td>
<td>40</td>
<td>85</td>
<td>0</td>
<td>50</td>
<td>150</td>
<td>0</td>
<td>0</td>
<td>150</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>0</td>
<td>120</td>
<td>60</td>
<td>0</td>
<td>55</td>
<td>55</td>
<td>0</td>
<td>0</td>
<td>60</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>SME</td>
<td>5919.7</td>
<td>4888</td>
<td>5919.7</td>
<td>5767.4</td>
<td>5027.4</td>
<td>5452.2</td>
<td>0</td>
<td>0</td>
<td>5514.8</td>
</tr>
</tbody>
</table>

### Table 11. Peanut Meal

<table style="width:100%;">
<colgroup>
<col style="width: 19%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-8" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Meal, Peanut</strong> (1000 MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td>10/2005</td>
<td>10/2005</td>
<td></td>
<td>10/2006</td>
<td>10/2006</td>
<td></td>
<td>10/2007</td>
<td>10/2007</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>7241</td>
<td>7200</td>
<td>7122</td>
<td>6887</td>
<td>7511</td>
<td>6704</td>
<td>0</td>
<td>0</td>
<td>6775</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0.3789531</td>
<td>0.3790277</td>
<td>0.3789665</td>
<td>0.3791200</td>
<td>0.3790440</td>
<td>0.3770883</td>
<td>0</td>
<td>0</td>
<td>0.3788929</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>2744</td>
<td>2729</td>
<td>2699</td>
<td>2611</td>
<td>2847</td>
<td>2528</td>
<td>0</td>
<td>0</td>
<td>2567</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>105</td>
<td>70</td>
<td>105</td>
<td>65</td>
<td>70</td>
<td>80</td>
<td>0</td>
<td>0</td>
<td>80</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>2849</strong></td>
<td><strong>2799</strong></td>
<td><strong>2804</strong></td>
<td><strong>2676</strong></td>
<td><strong>2917</strong></td>
<td><strong>2608</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>2647</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>8</td>
<td>10</td>
<td>4</td>
<td>5</td>
<td>8</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>6</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>2841</td>
<td>2789</td>
<td>2800</td>
<td>2671</td>
<td>2909</td>
<td>2603</td>
<td>0</td>
<td>0</td>
<td>2641</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>2841</td>
<td>2789</td>
<td>2800</td>
<td>2671</td>
<td>2909</td>
<td>2603</td>
<td>0</td>
<td>0</td>
<td>2641</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>2849</strong></td>
<td><strong>2799</strong></td>
<td><strong>2804</strong></td>
<td><strong>2676</strong></td>
<td><strong>2917</strong></td>
<td><strong>2608</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>2647</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>65</td>
<td>0</td>
<td>65</td>
<td>55</td>
<td>0</td>
<td>55</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>10</td>
<td>15</td>
<td>10</td>
<td>5</td>
<td>0</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>SME</td>
<td>3193</td>
<td>3134</td>
<td>3147</td>
<td>3002</td>
<td>3269</td>
<td>2925</td>
<td>0</td>
<td>0</td>
<td>2968</td>
</tr>
</tbody>
</table>

### Table 12. Sunflower Seed Meal

## 

<table style="width:100%;">
<colgroup>
<col style="width: 19%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-9" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Meal, Sunflower Seed</strong> (1000
MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td>10/2005</td>
<td>10/2005</td>
<td></td>
<td>10/2006</td>
<td>10/2006</td>
<td></td>
<td>10/2007</td>
<td>10/2007</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>972</td>
<td>804</td>
<td>972</td>
<td>953</td>
<td>832</td>
<td>792</td>
<td>0</td>
<td>0</td>
<td>890</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0.5411522</td>
<td>0.5410447</td>
<td>0.5411522</td>
<td>0.5414480</td>
<td>0.5408653</td>
<td>0.5416666</td>
<td>0</td>
<td>0</td>
<td>0.5415730</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>526</td>
<td>435</td>
<td>526</td>
<td>516</td>
<td>450</td>
<td>429</td>
<td>0</td>
<td>0</td>
<td>482</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>9</td>
<td>5</td>
<td>9</td>
<td>10</td>
<td>0</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>6</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>535</strong></td>
<td><strong>440</strong></td>
<td><strong>535</strong></td>
<td><strong>526</strong></td>
<td><strong>450</strong></td>
<td><strong>434</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>488</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>80</td>
<td>80</td>
<td>80</td>
<td>80</td>
<td>80</td>
<td>80</td>
<td>0</td>
<td>0</td>
<td>80</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>455</td>
<td>360</td>
<td>455</td>
<td>446</td>
<td>370</td>
<td>354</td>
<td>0</td>
<td>0</td>
<td>408</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>535</td>
<td>440</td>
<td>535</td>
<td>526</td>
<td>450</td>
<td>434</td>
<td>0</td>
<td>0</td>
<td>488</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>535</strong></td>
<td><strong>440</strong></td>
<td><strong>535</strong></td>
<td><strong>526</strong></td>
<td><strong>450</strong></td>
<td><strong>434</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>488</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>10</td>
<td>0</td>
<td>10</td>
<td>10</td>
<td>0</td>
<td>10</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>SME</td>
<td>505</td>
<td>415</td>
<td>505</td>
<td>496</td>
<td>424</td>
<td>409</td>
<td>0</td>
<td>0</td>
<td>460</td>
</tr>
</tbody>
</table>

### Table 13. Cotton Seed Meal

<table style="width:100%;">
<colgroup>
<col style="width: 19%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-10" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Meal, Cottonseed</strong> (1000
MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td>10/2005</td>
<td>10/2005</td>
<td></td>
<td>10/2006</td>
<td>10/2006</td>
<td></td>
<td>10/2007</td>
<td>10/2007</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>8700</td>
<td>8700</td>
<td>7830</td>
<td>9750</td>
<td>9250</td>
<td>10295</td>
<td>0</td>
<td>0</td>
<td>9300</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0.4256321</td>
<td>0.4252873</td>
<td>0.4252873</td>
<td>0.4256410</td>
<td>0.4257297</td>
<td>0.4256435</td>
<td>0</td>
<td>0</td>
<td>0.4256989</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>3703</td>
<td>3700</td>
<td>3330</td>
<td>4150</td>
<td>3938</td>
<td>4382</td>
<td>0</td>
<td>0</td>
<td>3959</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>0</td>
<td>1</td>
<td>0</td>
<td>0</td>
<td>1</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>3703</strong></td>
<td><strong>3701</strong></td>
<td><strong>3330</strong></td>
<td><strong>4150</strong></td>
<td><strong>3939</strong></td>
<td><strong>4382</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>3959</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>35</td>
<td>90</td>
<td>35</td>
<td>80</td>
<td>100</td>
<td>40</td>
<td>0</td>
<td>0</td>
<td>40</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>140</td>
<td>141</td>
<td>140</td>
<td>145</td>
<td>145</td>
<td>145</td>
<td>0</td>
<td>0</td>
<td>145</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>3528</td>
<td>3470</td>
<td>3200</td>
<td>3925</td>
<td>3694</td>
<td>4197</td>
<td>0</td>
<td>0</td>
<td>3774</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>3668</td>
<td>3611</td>
<td>3295</td>
<td>4070</td>
<td>3839</td>
<td>4342</td>
<td>0</td>
<td>0</td>
<td>3919</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>3703</strong></td>
<td><strong>3701</strong></td>
<td><strong>3330</strong></td>
<td><strong>4150</strong></td>
<td><strong>3939</strong></td>
<td><strong>4382</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>3959</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>SME</td>
<td>2972</td>
<td>2925</td>
<td>2669</td>
<td>3297</td>
<td>3110</td>
<td>3518</td>
<td>0</td>
<td>0</td>
<td>3175</td>
</tr>
</tbody>
</table>

### Table 14. Fish Meal

## 

<table>
<colgroup>
<col style="width: 13%" />
<col style="width: 10%" />
<col style="width: 10%" />
<col style="width: 9%" />
<col style="width: 10%" />
<col style="width: 9%" />
<col style="width: 10%" />
<col style="width: 7%" />
<col style="width: 9%" />
<col style="width: 10%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-11" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Meal, Fish</strong> (1000 MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td>01/2006</td>
<td>01/2006</td>
<td></td>
<td>01/2007</td>
<td>01/2007</td>
<td></td>
<td>01/2008</td>
<td>01/2008</td>
</tr>
<tr class="odd">
<td>Catch For Reduction</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>300</td>
<td>300</td>
<td>300</td>
<td>300</td>
<td>310</td>
<td>300</td>
<td>0</td>
<td>0</td>
<td>300</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>1050</td>
<td>1250</td>
<td>1579</td>
<td>1350</td>
<td>1350</td>
<td>980</td>
<td>0</td>
<td>0</td>
<td>1100</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>85</td>
<td>80</td>
<td>85</td>
<td>62</td>
<td>85</td>
<td>62</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>1350</strong></td>
<td><strong>1550</strong></td>
<td><strong>1879</strong></td>
<td><strong>1650</strong></td>
<td><strong>1660</strong></td>
<td><strong>1280</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>1400</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>7</td>
<td>7</td>
<td>3</td>
<td>5</td>
<td>8</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>5</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>1343</td>
<td>1543</td>
<td>1876</td>
<td>1645</td>
<td>1652</td>
<td>1275</td>
<td>0</td>
<td>0</td>
<td>1395</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>1343</td>
<td>1543</td>
<td>1876</td>
<td>1645</td>
<td>1652</td>
<td>1275</td>
<td>0</td>
<td>0</td>
<td>1395</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>1350</strong></td>
<td><strong>1550</strong></td>
<td><strong>1879</strong></td>
<td><strong>1650</strong></td>
<td><strong>1660</strong></td>
<td><strong>1280</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>1400</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>0</td>
<td>1250</td>
<td>0</td>
<td>0</td>
<td>1350</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>80</td>
<td>0</td>
<td>0</td>
<td>85</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>SME</td>
<td>1940.635</td>
<td>2229.635</td>
<td>2710.82</td>
<td>2377.025</td>
<td>2387.14</td>
<td>1842.375</td>
<td>0</td>
<td>0</td>
<td>2015.775</td>
</tr>
</tbody>
</table>

## Oils PSD Tables

### Table 15. Soybean Oil

## 

<table style="width:100%;">
<colgroup>
<col style="width: 19%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-12" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oil, Soybean</strong> (1000 MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td>10/2005</td>
<td>10/2005</td>
<td></td>
<td>10/2006</td>
<td>10/2006</td>
<td></td>
<td>10/2007</td>
<td>10/2007</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>34500</td>
<td>34000</td>
<td>34500</td>
<td>37500</td>
<td>35200</td>
<td>37300</td>
<td>0</td>
<td>0</td>
<td>39900</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0.1782318</td>
<td>0.1782352</td>
<td>0.1782318</td>
<td>0.1786666</td>
<td>0.1784090</td>
<td>0.1780160</td>
<td>0</td>
<td>0</td>
<td>0.178386</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>247</td>
<td>220</td>
<td>247</td>
<td>200</td>
<td>200</td>
<td>200</td>
<td>220</td>
<td>230</td>
<td>250</td>
</tr>
<tr class="even">
<td>Production</td>
<td>6149</td>
<td>6060</td>
<td>6149</td>
<td>6700</td>
<td>6280</td>
<td>6640</td>
<td>0</td>
<td>0</td>
<td>7118</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>1516</td>
<td>2400</td>
<td>1516</td>
<td>1700</td>
<td>2500</td>
<td>1900</td>
<td>0</td>
<td>0</td>
<td>2000</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>5</td>
<td>4</td>
<td>0</td>
<td>10</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>7912</strong></td>
<td><strong>8680</strong></td>
<td><strong>7912</strong></td>
<td><strong>8600</strong></td>
<td><strong>8980</strong></td>
<td><strong>8740</strong></td>
<td><strong>220</strong></td>
<td><strong>230</strong></td>
<td><strong>9368</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>105</td>
<td>80</td>
<td>105</td>
<td>75</td>
<td>50</td>
<td>100</td>
<td>0</td>
<td>0</td>
<td>50</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>7607</td>
<td>8400</td>
<td>7607</td>
<td>8305</td>
<td>8700</td>
<td>8390</td>
<td>0</td>
<td>0</td>
<td>9068</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>7607</td>
<td>8400</td>
<td>7607</td>
<td>8305</td>
<td>8700</td>
<td>8390</td>
<td>0</td>
<td>0</td>
<td>9068</td>
</tr>
<tr class="odd">
<td><strong>Ending Stocks</strong></td>
<td><strong>200</strong></td>
<td><strong>200</strong></td>
<td><strong>200</strong></td>
<td><strong>220</strong></td>
<td><strong>230</strong></td>
<td><strong>250</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>250</strong></td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>7912</strong></td>
<td><strong>8680</strong></td>
<td><strong>7912</strong></td>
<td><strong>8600</strong></td>
<td><strong>8980</strong></td>
<td><strong>8740</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>9368</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>0</td>
<td>1694</td>
<td>1543</td>
<td>0</td>
<td>2200</td>
<td>1700</td>
<td>0</td>
<td>0</td>
<td>1700</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>10</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>6</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>0</td>
<td>63</td>
<td>118</td>
<td>0</td>
<td>50</td>
<td>120</td>
<td>0</td>
<td>0</td>
<td>120</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 16. Rapeseed Oil

## 

<table style="width:100%;">
<colgroup>
<col style="width: 19%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-13" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oil, Rapeseed</strong> (1000 MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td>10/2005</td>
<td>10/2005</td>
<td></td>
<td>10/2006</td>
<td>10/2006</td>
<td></td>
<td>10/2007</td>
<td>10/2007</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>13056</td>
<td>10935</td>
<td>13056</td>
<td>12700</td>
<td>11240</td>
<td>12000</td>
<td>0</td>
<td>0</td>
<td>12080</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0.3550091</td>
<td>0.3545496</td>
<td>0.3550091</td>
<td>0.3588976</td>
<td>0.3546263</td>
<td>0.355</td>
<td>0</td>
<td>0</td>
<td>0.3549668</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>4635</td>
<td>3877</td>
<td>4635</td>
<td>4558</td>
<td>3986</td>
<td>4260</td>
<td>0</td>
<td>0</td>
<td>4288</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>45</td>
<td>350</td>
<td>45</td>
<td>10</td>
<td>400</td>
<td>50</td>
<td>0</td>
<td>0</td>
<td>50</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>4680</strong></td>
<td><strong>4227</strong></td>
<td><strong>4680</strong></td>
<td><strong>4568</strong></td>
<td><strong>4386</strong></td>
<td><strong>4310</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>4338</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>134</td>
<td>50</td>
<td>134</td>
<td>250</td>
<td>50</td>
<td>140</td>
<td>0</td>
<td>0</td>
<td>100</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>4546</td>
<td>4177</td>
<td>4546</td>
<td>4318</td>
<td>4336</td>
<td>4170</td>
<td>0</td>
<td>0</td>
<td>4238</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>4546</td>
<td>4177</td>
<td>4546</td>
<td>4318</td>
<td>4336</td>
<td>4170</td>
<td>0</td>
<td>0</td>
<td>4238</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>4680</strong></td>
<td><strong>4227</strong></td>
<td><strong>4680</strong></td>
<td><strong>4568</strong></td>
<td><strong>4386</strong></td>
<td><strong>4310</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>4338</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>0</td>
<td>360</td>
<td>0</td>
<td>0</td>
<td>400</td>
<td>400</td>
<td>0</td>
<td>0</td>
<td>50</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>0</td>
<td>10</td>
<td>31</td>
<td>0</td>
<td>5</td>
<td>144</td>
<td>0</td>
<td>0</td>
<td>100</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 17. Peanut Oil

## 

<table style="width:100%;">
<colgroup>
<col style="width: 19%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><strong>PSD Table</strong></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oil, Peanut</strong> (1000 MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td>10/2005</td>
<td>10/2005</td>
<td></td>
<td>10/2006</td>
<td>10/2006</td>
<td></td>
<td>10/2007</td>
<td>10/2007</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>7241</td>
<td>7200</td>
<td>7122</td>
<td>6887</td>
<td>7511</td>
<td>6704</td>
<td>0</td>
<td>0</td>
<td>6775</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0.3174975</td>
<td>0.3175</td>
<td>0.3173265</td>
<td>0.3131987</td>
<td>0.3131407</td>
<td>0.3159307</td>
<td>0</td>
<td>0</td>
<td>0.3173431</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>2299</td>
<td>2286</td>
<td>2260</td>
<td>2157</td>
<td>2352</td>
<td>2118</td>
<td>0</td>
<td>0</td>
<td>2150</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>0</td>
<td>1</td>
<td>0</td>
<td>0</td>
<td>2</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>2299</strong></td>
<td><strong>2287</strong></td>
<td><strong>2260</strong></td>
<td><strong>2157</strong></td>
<td><strong>2354</strong></td>
<td><strong>2118</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>2150</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>14</td>
<td>20</td>
<td>14</td>
<td>15</td>
<td>20</td>
<td>10</td>
<td>0</td>
<td>0</td>
<td>12</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>2285</td>
<td>2267</td>
<td>2246</td>
<td>2142</td>
<td>2334</td>
<td>2108</td>
<td>0</td>
<td>0</td>
<td>2138</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>2285</td>
<td>2267</td>
<td>2246</td>
<td>2142</td>
<td>2334</td>
<td>2108</td>
<td>0</td>
<td>0</td>
<td>2138</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>2299</strong></td>
<td><strong>2287</strong></td>
<td><strong>2260</strong></td>
<td><strong>2157</strong></td>
<td><strong>2354</strong></td>
<td><strong>2118</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>2150</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>0</td>
<td>20</td>
<td>0</td>
<td>0</td>
<td>20</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 18. Palm Oil

<table>
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 10%" />
<col style="width: 10%" />
<col style="width: 8%" />
<col style="width: 10%" />
<col style="width: 10%" />
<col style="width: 8%" />
<col style="width: 10%" />
<col style="width: 10%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-14" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oil, Palm</strong> (1000 HA)(1000 TREES)(1000
MT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td>10/2005</td>
<td>10/2005</td>
<td></td>
<td>10/2006</td>
<td>10/2006</td>
<td></td>
<td>10/2007</td>
<td>10/2007</td>
</tr>
<tr class="odd">
<td>Area Planted</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Area Harvested</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Trees</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Production</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Imports</td>
<td>4975</td>
<td>4750</td>
<td>4975</td>
<td>5600</td>
<td>4900</td>
<td>5300</td>
<td>0</td>
<td>0</td>
<td>5600</td>
</tr>
<tr class="odd">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td><strong>Total Supply</strong></td>
<td><strong>4975</strong></td>
<td><strong>4750</strong></td>
<td><strong>4975</strong></td>
<td><strong>5600</strong></td>
<td><strong>4900</strong></td>
<td><strong>5300</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>5600</strong></td>
</tr>
<tr class="even">
<td>MY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Industrial Dom. Cons.</td>
<td>1900</td>
<td>1700</td>
<td>1900</td>
<td>2150</td>
<td>1750</td>
<td>2100</td>
<td>0</td>
<td>0</td>
<td>2250</td>
</tr>
<tr class="odd">
<td>Food Use Dom. Cons.</td>
<td>3075</td>
<td>3050</td>
<td>3075</td>
<td>3450</td>
<td>3150</td>
<td>3200</td>
<td>0</td>
<td>0</td>
<td>3350</td>
</tr>
<tr class="even">
<td>Feed Waste Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Total Dom. Cons.</td>
<td>4975</td>
<td>4750</td>
<td>4975</td>
<td>5600</td>
<td>4900</td>
<td>5300</td>
<td>0</td>
<td>0</td>
<td>5600</td>
</tr>
<tr class="even">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td><strong>Total Distribution</strong></td>
<td><strong>4975</strong></td>
<td><strong>4750</strong></td>
<td><strong>4975</strong></td>
<td><strong>5600</strong></td>
<td><strong>4900</strong></td>
<td><strong>5300</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>5600</strong></td>
</tr>
<tr class="even">
<td>CY Imports</td>
<td>0</td>
<td>4320</td>
<td>0</td>
<td>0</td>
<td>4600</td>
<td>4600</td>
<td>0</td>
<td>0</td>
<td>4600</td>
</tr>
<tr class="odd">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 19. Sunflower Seed Oil

## 

<table style="width:100%;">
<colgroup>
<col style="width: 19%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
<col style="width: 8%" />
<col style="width: 9%" />
<col style="width: 9%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-15" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oil, Sunflower Seed</strong> (1000
MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td>10/2005</td>
<td>10/2005</td>
<td></td>
<td>10/2006</td>
<td>10/2006</td>
<td></td>
<td>10/2007</td>
<td>10/2007</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>972</td>
<td>804</td>
<td>972</td>
<td>953</td>
<td>832</td>
<td>792</td>
<td>0</td>
<td>0</td>
<td>890</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0.3559670</td>
<td>0.3557213</td>
<td>0.3559670</td>
<td>0.3557187</td>
<td>0.3557692</td>
<td>0.3560606</td>
<td>0</td>
<td>0</td>
<td>0.3550561</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>346</td>
<td>286</td>
<td>346</td>
<td>339</td>
<td>296</td>
<td>282</td>
<td>0</td>
<td>0</td>
<td>316</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>5</td>
<td>5</td>
<td>5</td>
<td>5</td>
<td>5</td>
<td>50</td>
<td>0</td>
<td>0</td>
<td>20</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>351</strong></td>
<td><strong>291</strong></td>
<td><strong>351</strong></td>
<td><strong>344</strong></td>
<td><strong>301</strong></td>
<td><strong>332</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>336</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>351</td>
<td>291</td>
<td>351</td>
<td>344</td>
<td>301</td>
<td>332</td>
<td>0</td>
<td>0</td>
<td>336</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>351</td>
<td>291</td>
<td>351</td>
<td>344</td>
<td>301</td>
<td>332</td>
<td>0</td>
<td>0</td>
<td>336</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>351</strong></td>
<td><strong>291</strong></td>
<td><strong>351</strong></td>
<td><strong>344</strong></td>
<td><strong>301</strong></td>
<td><strong>332</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>336</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>5</td>
<td>1</td>
<td>5</td>
<td>5</td>
<td>0</td>
<td>5</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 20. Cottonseed Oil

## 

<table style="width:100%;">
<colgroup>
<col style="width: 14%" />
<col style="width: 9%" />
<col style="width: 10%" />
<col style="width: 10%" />
<col style="width: 8%" />
<col style="width: 10%" />
<col style="width: 10%" />
<col style="width: 8%" />
<col style="width: 10%" />
<col style="width: 10%" />
</colgroup>
<tbody>
<tr class="odd">
<td><strong>PSD Table</strong></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oil, Cottonseed</strong> (1000 MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td>10/2005</td>
<td>10/2005</td>
<td></td>
<td>10/2006</td>
<td>10/2006</td>
<td></td>
<td>10/2007</td>
<td>10/2007</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>8700</td>
<td>8700</td>
<td>7830</td>
<td>9750</td>
<td>9250</td>
<td>10295</td>
<td>0</td>
<td>0</td>
<td>9300</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0.14563</td>
<td>0.14563</td>
<td>0.14687</td>
<td>0.1456</td>
<td>0.14572</td>
<td>0.14560</td>
<td>0</td>
<td>0</td>
<td>0.14559</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>1267</td>
<td>1267</td>
<td>1150</td>
<td>1420</td>
<td>1348</td>
<td>1499</td>
<td>0</td>
<td>0</td>
<td>1354</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>1267</strong></td>
<td><strong>1267</strong></td>
<td><strong>1150</strong></td>
<td><strong>1420</strong></td>
<td><strong>1348</strong></td>
<td><strong>1499</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>1354</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>0</td>
<td>120</td>
<td>0</td>
<td>0</td>
<td>120</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>1267</td>
<td>1147</td>
<td>1150</td>
<td>1420</td>
<td>1228</td>
<td>1499</td>
<td>0</td>
<td>0</td>
<td>1354</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>1267</td>
<td>1267</td>
<td>1150</td>
<td>1420</td>
<td>1348</td>
<td>1499</td>
<td>0</td>
<td>0</td>
<td>1354</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Total Distribution</td>
<td>1267</td>
<td>1267</td>
<td>1150</td>
<td>1420</td>
<td>1348</td>
<td>1499</td>
<td>0</td>
<td>0</td>
<td>1354</td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

### Table 21. Coconut Oil (Copra)

## 

<table>
<colgroup>
<col style="width: 14%" />
<col style="width: 8%" />
<col style="width: 10%" />
<col style="width: 10%" />
<col style="width: 8%" />
<col style="width: 10%" />
<col style="width: 10%" />
<col style="width: 8%" />
<col style="width: 10%" />
<col style="width: 10%" />
</colgroup>
<tbody>
<tr class="odd">
<td><p id="psd-table-16" class="heading">PSD Table</p></td>
<td colspan="9"></td>
</tr>
<tr class="even">
<td><strong>Country</strong></td>
<td colspan="9"><strong>China, Peoples Republic of</strong></td>
</tr>
<tr class="odd">
<td><strong>Commodity</strong></td>
<td colspan="9"><strong>Oil, Coconut</strong> (1000 MT)(PERCENT)</td>
</tr>
<tr class="even">
<td></td>
<td>2005</td>
<td>Revised</td>
<td></td>
<td>2006</td>
<td>Estimate</td>
<td></td>
<td>2007</td>
<td>Forecast</td>
<td></td>
</tr>
<tr class="odd">
<td></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
<td><p>USDA</p>
<p>Official</p></td>
<td><p>Post</p>
<p>Estimate</p></td>
<td><p>Post</p>
<p>Estimate</p>
<p>New</p></td>
</tr>
<tr class="even">
<td><strong>Market Year Begin</strong></td>
<td></td>
<td>10/2005</td>
<td>10/2005</td>
<td></td>
<td>10/2006</td>
<td>10/2006</td>
<td></td>
<td>10/2007</td>
<td>10/2007</td>
</tr>
<tr class="odd">
<td>Crush</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Extr. Rate, 999.9999</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Beginning Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Production</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imports</td>
<td>171</td>
<td>150</td>
<td>171</td>
<td>135</td>
<td>160</td>
<td>160</td>
<td>0</td>
<td>0</td>
<td>150</td>
</tr>
<tr class="even">
<td>MY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>MY Imp. from EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Supply</strong></td>
<td><strong>171</strong></td>
<td><strong>150</strong></td>
<td><strong>171</strong></td>
<td><strong>135</strong></td>
<td><strong>160</strong></td>
<td><strong>160</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>150</strong></td>
</tr>
<tr class="odd">
<td>MY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>MY Exp. to EU</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>Industrial Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Food Use Dom. Cons.</td>
<td>171</td>
<td>150</td>
<td>171</td>
<td>135</td>
<td>160</td>
<td>160</td>
<td>0</td>
<td>0</td>
<td>150</td>
</tr>
<tr class="odd">
<td>Feed Waste Dom. Cons.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>Total Dom. Cons.</td>
<td>171</td>
<td>150</td>
<td>171</td>
<td>135</td>
<td>160</td>
<td>160</td>
<td>0</td>
<td>0</td>
<td>150</td>
</tr>
<tr class="odd">
<td>Ending Stocks</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td><strong>Total Distribution</strong></td>
<td><strong>171</strong></td>
<td><strong>150</strong></td>
<td><strong>171</strong></td>
<td><strong>135</strong></td>
<td><strong>160</strong></td>
<td><strong>160</strong></td>
<td><strong>0</strong></td>
<td><strong>0</strong></td>
<td><strong>150</strong></td>
</tr>
<tr class="odd">
<td>CY Imports</td>
<td>175</td>
<td>140</td>
<td>175</td>
<td>135</td>
<td>150</td>
<td>135</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Imp. from U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="odd">
<td>CY Exports</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
<tr class="even">
<td>CY Exp. to U.S.</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
<td>0</td>
</tr>
</tbody>
</table>

## Soybean & Rapeseed Wholesale Price Tables

### Table 22. Wholesale Soybean Prices CY 2006

  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
  Unit: RMB Yuan/MT;                                                                                         
  8.07RMB=US\$1.00                                                                                           

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

  Tianjin            2,660   2,580   2,550   2,500   2,450   2,500   2,440   2,520   2,560   2,600   2,700   2,800

  Hebei              2,640   2,560   2,550   2,480   2,440   2,520   2,480   2,540   2,550   2,600   2,700   2,800

  Jilin              2,560   2,560   2,460   2,340   2,480   2,460   2,420   2,380   2,380   2,340   2,660   2,620

  Heilongjiang       2,500   2,500   2,460   2,300   2,340   2,340   2,240   2,300   2,340   2,340   2,560   2,540

  Shanghai           2,650   2,600   2,560   2,500   2,450   2,520   2,480   2,520   2,560   2,600   2,700   2,800

  Jiangsu            2,630   2,560   2,520   2,470   2,440   2,520   2,480   2,520   2,550   2,600   2,700   2,800

  Shandong           2,640   2,580   2,540   2,480   2,450   2,520   2,480   2,520   2,550   2,600   2,700   2,800

  Henan              2,680   2,640   2,580   2,520   2,500   2,550   2,500   2,540   2,580   2,640   2,740   2,840

  Guangdong          2,640   2,560   2,550   2,480   2,440   2,520   2,480   2,520   2,550   2,600   2,700   2,800

  Average            2,622   2,571   2,530   2,452   2,443   2,494   2,444   2,484   2,513   2,547   2,684   2,756

  **Jan-Dec Change =                                                                                         
  +5%**                                                                                                      
  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------

### Table 23. Wholesale Soybean Meal Prices in CY 2006

  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
  Unit: RMB Yuan/MT;                                                                                         
  8.07RMB=US\$1.00                                                                                           

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

  Tianjin            2,320   2,320   2,220   2,100   2,070   2,040   2,000   2,080   2,160   2,140   2,260   2,150

  Hebei              2,320   2,330   2,240   2,100   2,070   2,040   2,020   2,100   2,160   2,140   2,280   2,150

  Jilin              2,280   2,260   2,200   2,080   2,100   2,080   2,040   2,000   2,100   2,050   2,320   2,150

  Heilongjiang       2,220   2,260   2,120   2,000   2,030   1,950   1,950   1,980   2,080   2,000   2,250   2,140

  Shanghai           2,360   2,400   2,260   2,120   2,140   2,100   2,070   2,080   2,140   2,200   2,340   2,160

  Jiangsu            2,340   2,380   2,250   2,100   2,110   2,070   2,050   2,090   2,130   2,160   2,320   2,160

  Shandong           2,360   2,340   2,250   2,080   2,100   2,050   2,030   2,060   2,140   2,180   2,320   2,150

  Henan              2,360   2,400   2,280   2,180   2,140   2,120   2,060   2,100   2,180   2,180   2,340   2,200

  Guangdong          2,380   2,350   2,240   2,060   2,080   2,060   2,080   2,100   2,160   2,250   2,320   2,160

  Average            2,327   2,338   2,229   2,091   2,093   2,057   2,033   2,066   2,139   2,144   2,306   2,158

  **Jan-Dec Change =                                                                                         
  -7%**                                                                                                      
  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------

### Table 24. Wholesale Soybean Oil Prices in CY 2006

  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
  Unit: RMB Yuan/MT;                                                                                         
  8.07RMB=US\$1.00                                                                                           

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

  Tianjin            5,100   5,040   5,120   5,060   5,150   5,140   5,300   5,500   5,650   6,000   7,600   7,400

  Hebei              5,080   5,060   5,120   5,060   5,150   5,140   5,260   5,500   5,600   6,000   7,600   7,400

  Jilin              5,160   5,100   5,100   5,100   5,160   5,200   5,250   5,400   5,450   5,750   7,300   7,300

  Heilongjiang       5,060   5,040   5,000   5,000   5,100   5,220   5,200   5,300   5,450   5,600   7,000   7,000

  Shanghai           5,060   5,060   5,100   5,060   5,150   5,180   5,300   5,500   5,550   6,000   7,600   7,450

  Jiangsu            5,040   5,040   5,100   5,060   5,160   5,180   5,300   5,500   5,550   6,000   7,700   7,500

  Shandong           5,050   5,050   5,040   5,000   5,080   5,050   5,300   5,480   5,550   6,000   7,600   7,500

  Henan              5,080   5,080   5,100   5,060   5,120   5,160   5,300   5,520   5,550   6,000   7,600   7,450

  Guangdong          4,950   4,980   5,000   4,980   5,100   5,080   5,250   5,480   5,500   5,800   7,500   7,450

  Average            5,064   5,050   5,076   5,042   5,130   5,150   5,273   5,464   5,539   5,906   7,500   7,383

  **Jan-Dec Change =                                                                                         
  +46%**                                                                                                     
  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------

### Table 25. Wholesale Rapeseed Oil Prices in CY 2006

  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
  Unit: RMB Yuan/MT;                                                                                         
  8.07RMB=US\$1.00                                                                                           

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

  Jiangsu            5,120   5,140   5,140   5,120   5,120   5,250   5,400   5,650   5,800   6,150   7,900   7,950

  Zhejiang           5,250   5,240   5,180   5,180   5,120   5,250   5,420   5,600   5,900   6,100   8,000   7,950

  Anhui              5,120   5,140   5,160   5,140   5,100   5,250   5,360   5,600   5,900   6,200   8,000   8,050

  Jiangxi            5,180   5,120   5,150   5,150   5,100   5,250   5,380   5,550   5,950   6,100   8,100   8,000

  Hubei              5,120   5,100   5,120   5,160   5,060   5,300   5,420   5,560   5,950   6,000   8,000   8,000

  Hunan              5,120   5,140   5,140   5,160   5,120   5,300   5,400   5,600   5,950   6,100   8,000   8,000

  Sichuan            5,200   5,250   5,250   5,250   5,220   5,300   5,600   5,650   6,300   6,500   8,400   8,200

  Average            5,160   5,161   5,163   5,166   5,120   5,271   5,426   5,600   5,964   6,164   8,057   8,021

  **Jan-Dec Change =                                                                                         
  +55%**                                                                                                     
  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------

### Table 26. Wholesales Palm Oil Ex-Pier Prices CY 2006

  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
  Unit: RMB Yuan/MT;                                                                                         
  8.07RMB=US\$1.00                                                                                           

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

  Tianjin            4,240   4,400   4,280   4,400   4,450   4,560   4,820   4,980   4,810   4,960   5,800   5,700

  Qingdao            4,180   4,350   4,240   4,320   4,420   4,540   4,800   4,900   4,750   4,900   5,700   5,700

  Lianyungang        4,160   4,350   4,200   4,320   4,400   4,540   4,780   4,880   4,700   4,950   5,700   5,600

  Zhangjiagan        4,160   4,330   4,180   4,350   4,380   4,550   4,780   4,880   4,670   4,950   5,700   5,600

  Shanghai           4,160   4,320   4,200   4,300   4,400   4,560   4,800   4,880   4,700   4,950   5,700   5,600

  Ningbo             4,180   4,300   4,200   4,300   4,400   4,560   4,800   4,880   4,700   4,950   5,700   5,600

  Huangpu            4,060   4,300   4,140   4,300   4,300   4,480   4,750   4,900   4,530   4,850   5,600   5,500

  Shenzhen           4,060   4,300   4,150   4,300   4,300   4,500   4,750   4,900   4,550   4,850   5,600   5,500

  Average            4,150   4,331   4,200   4,324   4,381   4,536   4,785   4,900   4,676   4,920   5,688   5,600

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

### Table 27. A Comparison of Wholesale Prices for Soy, Palm & Rapeseed Oil in CY 2006

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

  Rapeseed   5,160   5,161   5,163   5,166   5,120   5,271   5,426   5,600   5,964   6,164   8,057   8,021

  Palm Oil   4,150   4,331   4,200   4,324   4,381   4,536   4,785   4,900   4,676   4,920   5,688   5,600

  Soy        5,064   5,050   5,076   5,042   5,130   5,150   5,273   5,464   5,539   5,906   7,500   7,383

  Diff %     1.9%    2.2%    1.7%    2.5%    -0.2%   2.3%    2.9%    2.5%    7.7%    4.4%    7.4%    8.6%
  Rape/Soy                                                                                           

  Diff %     -22%    -17%    -21%    -17%    -17%    -14%    -10%    -12%    -18%    -20%    -32%    -32%
  Palm/Soy                                                                                           
  ---------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------

Source: China National Grains & Oils Information Center (CNGOIC),
Beijing, China Oils & Oilseeds Monthly Report/Dec/2006 (Table 22-27)

## Taxes & Duties Tables (Jan 01-Dec 31, 2007)

### Table 28. Oilseeds

+----------+----------------------------+--------+---+---+---+-------+
| HS Code  | Description                | M.F.N. | C |   |   | V     |
|          |                            | (%)    | T |   |   | .A.T. |
|          |                            |        | ( |   |   |       |
|          |                            |        | % |   |   | (%)   |
|          |                            |        | ) |   |   |       |
+----------+----------------------------+--------+---+---+---+-------+
|          |                            |        | C | C | C |       |
|          |                            |        | A | P | C |       |
+----------+----------------------------+--------+---+---+---+-------+
| 12010010 | Soybeans, seed             | 0      |   |   |   | 13    |
+----------+----------------------------+--------+---+---+---+-------+
| 12010091 | Yellow soybean             | 3      |   | 0 | 2 | 13    |
|          |                            |        |   |   | . |       |
|          |                            |        |   |   | 4 |       |
+----------+----------------------------+--------+---+---+---+-------+
| 12010092 | Black soybean              | 3      |   | 0 | 0 | 13    |
+----------+----------------------------+--------+---+---+---+-------+
| 12010093 | Green soybean              | 3      |   | 0 | 0 | 13    |
+----------+----------------------------+--------+---+---+---+-------+
| 12010099 | Other soybean              | 3      |   | 0 | 0 | 13    |
+----------+----------------------------+--------+---+---+---+-------+
| 12021010 | In shell peanut, seed      | 0      |   |   |   | 13    |
+----------+----------------------------+--------+---+---+---+-------+
| 12021090 | In shell peanut, other     | 15     | 8 |   | 9 | 13    |
+----------+----------------------------+--------+---+---+---+-------+
| 12022000 | Shelled peanut             | 15     | 8 |   | 0 | 13    |
+----------+----------------------------+--------+---+---+---+-------+
| 20081110 | Peanut kernels, in         | 30     | T |   | 0 | 17    |
|          | airtight containers        |        | 3 |   |   |       |
+----------+----------------------------+--------+---+---+---+-------+
| 20081120 | Roasted peanuts            | 30     |   |   | 0 | 17    |
+----------+----------------------------+--------+---+---+---+-------+
| 20081130 | Peanut butter              | 30     |   |   | 0 | 17    |
+----------+----------------------------+--------+---+---+---+-------+
| 20081190 | Other processed peanuts    | 30     |   |   | 0 | 17    |
+----------+----------------------------+--------+---+---+---+-------+
| 12051010 | Low erucic acid rape seed, | 0      |   |   |   | 13    |
|          | seed                       |        |   |   |   |       |
+----------+----------------------------+--------+---+---+---+-------+
| 12051090 | Low erucic acid rape seed, | 9      | 5 | 0 | 7 | 13    |
|          | other                      |        |   |   | . |       |
|          |                            |        |   |   | 2 |       |
+----------+----------------------------+--------+---+---+---+-------+
| 12059010 | Other rapeseed, seed       | 0      |   |   |   | 13    |
+----------+----------------------------+--------+---+---+---+-------+
| 12059090 | Other rapeseed, other      | 9      | 5 | 0 | 7 | 13    |
|          |                            |        |   |   | . |       |
|          |                            |        |   |   | 2 |       |
+----------+----------------------------+--------+---+---+---+-------+
| 12060010 | Sunflower seeds, seed      | 0      |   |   |   | 13    |
+----------+----------------------------+--------+---+---+---+-------+
| 12060090 | Sunflower seeds, other     | 15     | 8 |   | 1 | 13    |
|          |                            |        |   |   | 2 |       |
+----------+----------------------------+--------+---+---+---+-------+
| 12072010 | Cottonseeds for            | 0      |   |   |   | 13    |
|          | cultivation                |        |   |   |   |       |
+----------+----------------------------+--------+---+---+---+-------+
| 12072090 | Cottonseeds, other         | 15     | 8 |   | 9 | 13    |
+----------+----------------------------+--------+---+---+---+-------+
| 12074010 | Sesame seeds for           | 0      |   |   |   | 13    |
|          | cultivation                |        |   |   |   |       |
+----------+----------------------------+--------+---+---+---+-------+
| 12074090 | Sesame seeds, other        | 10     | T | 9 | 0 | 13    |
|          |                            |        | 3 |   |   |       |
+----------+----------------------------+--------+---+---+---+-------+

Note: CA\--China/Association of Southeast Asia; CP\--China/Pakistan;
CC\--China/Chile; T3\--Various Tax Rates Applied on ASEAN Ten Countries,
Respectively. If CA, CP, or CC do not apply, the standard duty is
applied at MFN rates.

### Table 29. Oils

  ----------- ---------------------------- --------- ----- ----- ---- --------
  HS Code     Description                  M.F.N.    CT               V.A.T.
                                           (%)       (%)              (%)

                                                     CA    CP    CC   

  15071000    Crude soybean oil            9                          13

  15079000    Other soybean oil            9                          13

  15081000    Crude peanut oil             10        8                13

  15089000    Other peanut oil             10        8                13

  15091000    Olive Oil, virgin            10        T3          8    13

  15099000    Olive oil, other             10        8           8    17

  15111000    Palm oil, crude              9                          13

  15119010    Palm oil, liquid             9                          13

  15119020    Stearin                      8                          13

  15119090    Palm oil, other              9                          17

  15121100    Crude sunflower seed oil     9         5                13

  15121900    Other sunflower seed oil     9         5                17

  15122100    Crude cottonseed oil         10        8                13

  15122900    Other cottonseed oil         10        8                17

  15131100    Crude coconut oil            9         T3    4.5   0    13

  15131900    Other coconut oil            9         T3    4.5   0    13

  15132100    Crude palm kernel oil        9         T3          0    13

  15132900    Other palm kernel oil        9         T3          0    17

  15141100    Crude low erucic acid rape   9                          13
              or colza oil                                            

  15141900    Other crude low erucic acid  9                          13
              rape oil                                                

  15149110    Crude rape or colza oil      9                          13

  15149190    Crude mustard oil            9                          13

  15149900    Other rape oil               9                          17
  ----------- ---------------------------- --------- ----- ----- ---- --------

Note: CA\--China/Association of Southeast Asia; CP\--China/Pakistan;
CC\--China/Chile; T3\--Various Tax Rates Applied on ASEAN Ten Countries,
Respectively. If CA, CP, or CC do not apply, the standard duty is
applied at MFN rates.

### Table 30. Meals

  ----------- ---------------------------- ----------- ----- ---- ----- --------
  HS Code     Description                  M.F.N.(%)   CT               V.A.T.
                                                       (%)              (%)

                                                       CA    CP   CC    

  12081000    Soyflour                     9           5          0     17

  12089000    Other                        15          8          9     17

  23012010    Fish meal                    2                 0    1.6   13

  23025000    Legume sweepings             5                      0     13

  23040010    Soy meal, oil cake           5                 0    4     13

  23040090    Soy meal, other              5                 0    0     13

  23050000    Peanut meal                  5                      0     13

  23061000    Cottonseed meal              5                      0     13

  23063000    Sunflower seed meal          5                      0     13

  23064100    Low erucic acid rapeseed     5                      0     13
              meal                                                      

  23064900    Other rapeseed meal          5                      0     13
  ----------- ---------------------------- ----------- ----- ---- ----- --------

Note: CA\--China/Association of Southeast Asia; CP\--China/Pakistan;
CC\--China/Chile; T3\--Various Tax Rates Applied on ASEAN Ten Countries,
Respectively. If CA, CP, or CC do not apply, the standard duty is
applied at MFN rates.