Required Report - public distribution

**Date:** 3/16/2004

**GAIN Report Number:** MY4013

MY4013

**Malaysia**

**Oilseeds and Products**

**Annual**

**2004**

**Approved by:**

![](media/image1.wmf)Bonnie Borris

U.S. Embassy, Kuala Lumpur

**Prepared by:**

Raymond Hoh

**Report Highlights:**

**A sharp drop in domestic demand for soybean meal resulted in a 25%
plunge in soybean imports to 554 TMT and a 14% drop in soymeal imports
in 2002/03. The U.S. replaced Argentina as the top soybean supplier to
the Malaysian soybean import market. The outlook for 2003/04 is
brighter. Malaysia's intake of U.S. soybean is expected to increase by
18% to 240 TMT. Malaysia led the world as the largest producer of palm
oil in 2002/03. CPO production is expected to increase to 13.7 MMT in
2003/04 with exportable surplus of over 12.2 MMT.**

Includes PSD Changes: Yes

Includes Trade Matrix: Yes

Annual Report

Kuala Lumpur \[MY1\]

\[MY\]

Table of Contents

[Executive Summary 3](#executive-summary)

[TOTAL OILSEEDS 4](#total-oilseeds)

[1. Soybean 4](#soybean)

[2. Palm Kernel 6](#palm-kernel)

[3. Copra 6](#copra)

[TOTAL OILMEALS 7](#total-oilmeals)

[1. Soybean Meal 7](#soybean-meal)

[2. Palm Kernel Meal 7](#palm-kernel-meal)

[3. Copra Meal 7](#copra-meal)

[4. Fishmeal 8](#fishmeal)

[TOTAL OILS 9](#total-oils)

[1. Palm Oil 9](#palm-oil)

[2. Palm Kernel Oil 11](#palm-kernel-oil)

[3. Soybean Oil 11](#soybean-oil)

[4. Coconut Oil 11](#coconut-oil)

# Executive Summary

A sharp drop in domestic demand for soybean meal due a weakening of the
poultry and pig production during the Severe Acute Respiratory Syndrome
(SARS) period resulted in a 25% plunge in soybean imports to 544 TMT and
a 14% drop in soymeal imports in 2002/03. The U.S. replaced Argentina as
the top soybean supplier with a 37% share of the Malaysian soybean
import market while the latter remained the top source of soymeal in
Malaysia.

Against the concern over the current avian influenza (AI) outbreak in
the region and the current surge in feed-prices and sea freights, Post
expects soybean and soymeal imports to rebound by 10 percent to 600 TMT
and 11 percent to 495 TMT respectively in 2003/04. The prospect of U.S.
soybean exports to Malaysia is bright with Malaysia's intake expected to
increase by 18 percent to 240 TMT.

Malaysia continues to lead the world as the largest producer and
exporter of palm and palm kernel oil. Domestic crude palm oil (CPO)
production surged by 11% to 13.2 million metric tons (MMT) in 2002/03.
An increase in palm kernel crushing led to a 12.7 percent increase in
the production of palm kernel oil (PKO). With additional area due for
harvesting, Post forecasts CPO production at 13.7 MMT and PKO output at
1.7 MMT in 2003/04.

With an expected exportable surplus of over 12.2 MMT of palm oil and 700
TMT of palm kernel oil in 2003/04, Malaysia will remain a formidable
competitor in the world vegetable oil market. Demand from China, India,
Pakistan and the Netherlands will likely continue to be strong in
2003/04.

Total area under coconut cultivation has dropped steadily over the years
and the outlook for copra output is on a slow downtrend in the near
term. Domestic coconut oil output amounted to 36 TMT in CY2003 mainly
for the export market. Coconut oil accounts for only about one percent
of total domestic oil consumption. Malaysia imported 135 TMT of crude
oil from Indonesia and the Philippines in CY2003. Exports of refined
coconut oil reached about 166 TMT with major markets being Sri Lanka,
China and Singapore.

With expected expansion in soy crush in the near future, domestic soyoil
output is expected to increase to 77 TMT in 2003/04. Soybean oil
consumption accounts for less than 4 percent of total food-use
consumption of oil in Malaysia. Malaysia\'s soybean oil exports are
expected to trend upwards in the next two years, mainly to Singapore,
Hong Kong, China and South Korea.

In response to increasing overseas demand and rising fishmeal prices,
the local fishmeal production is expected to show some increases in the
near future. In normal years, Malaysian exporters diverted much of their
fishmeal output to overseas markets. Exports amounted to 43 TMT in
CY2003, mainly to Vietnam, Indonesia, China and Thailand.

Exchange Rate: Malaysian Ringgit (RM) has been pegged at 3.799 to US1.00
since Sept, 1998.

# TOTAL OILSEEDS

## 1. Soybean {#soybean .unnumbered}

**Production**

There is no commercial cultivation of soybeans in Malaysia.

**Imports**

A sharp drop in domestic demand for soybean meal resulted in a 25%
plunge in soybean imports to 544 TMT in 2002/03. The Severe Acute
Respiratory Syndrome (SARS) crisis in 2003 had a negative impact on the
poultry and pig industry due to fewer travelers to the country. Although
imports from the U.S. dropped by 24%, the U.S. managed to replace
Argentina as the top soybean supplier with a 37% share of the Malaysian
soybean import market. Canada continued to dominate the food-grade
soybean market.

The current avian influenza (AI) outbreak in the region has affected
consumer confidence and poultry consumption within Malaysia has fallen
by around 30 percent temporarily. Although Malaysia is still declared
free from AI, poultry farmers are reducing poultry production in order
to avoid an oversupply situation. According to an industrial analysis,
the impact should be short-lived since the consumers' concern is fading
away. Livestock farmers are also concerned that the current surge in
feed-prices and sea freights are eroding their profit margins. At this
point, Post expects domestic soy imports to rebound 10 percent to 600
TMT in 2003/04. The prospect of U.S. soybean exports to Malaysia is
bright with Malaysia's intake expected to increase by 18 percent to 240
TMT.

**Trade Policy & Market Access**

Currently U.S. soybeans and meals have complete access into the
Malaysian market. All import tariffs have been removed for many years.
In addition, Malaysian has sound infrastructure (such as ports, rail and
road networks and storage facilities), encouraging the bean trade flow
from the United States to Malaysia. The GOM has no objection to the
usage of GSM facilities although the Central Bank limits the tenure of a
loan to one year in order to minimize the country's exposure to foreign
loans.

[GMO/Biotech Safety Issue]{.underline}: To date, the only GM ag product
officially approved to be imported into Malaysia is soybeans. Local soy
product exporters also need to conform to EU's GMO requirement when they
export processed soy-related food such as soy sauce, canned tuna in soy
oil and soy milk to the EU.

At the conclusion of the of the first meeting of the Parties of the
Cartagena Protocol on Biosafety in Kuala Lumpur, February 23-29, 2004,
documentation accompanying all bulk shipments of GM crops intended for
food, feed or processing is required to be identified as 'may contain
LMOs' and should indicate the contact details of the importer, exporter
or other appropriate authority. A group of experts will meet over the
next year to further elaborate the documentation and handling
requirements for bulk agricultural shipments. Key issues to be resolved
include the percentage of GM materials the shipment may contain and
still be considered GMO-free and the inclusion of any additional
detailed information. A decision is to be considered at the next meeting
in 2005.

As for the Malaysian biotech regulations, the Cabinet has approved the
Biosafety Bill. This legislation has been in the drafting stages for
more than four years and has been the subject of extensive interagency
meetings within the Malaysian Government. Due to the Malaysian Secrecy
Act, the details of these bills and the internal debates are not
publicly available. The Bill is to be tabled when the Parliament next
convene after the next General Election to be held on March 21, 2004.
The Ministry of Health (MOH) is responsible for food safety in Malaysia.
While MOH has been supportive of U.S. efforts to block European
initiatives on biotechnology traceability and precaution within the
on‑going multinational Codex Alimentarius discussions on biotechnology
and food, Malaysian officials intend to implement labeling requirements
for biotechnology‑derived foods. U.S. has commented on MOH's WTO
Notification on the subject. The final amendment is not available for
public viewing. The new regulations are supposed to be implemented as
soon as the Biosafety Act is in place. There is no regulation governing
the use of \"GMO-free\" or \"non-GMO\" labels.

**Consumption**

Please see 'Consumption' section under Total Oilmeals (Soybean Meal) for
development of the livestock/feed sector.

Post expects soy food consumption to increase at around 5 percent per
annum. Consumption is forecast to rise to 124,000 MT in 2003/04 and
130,000 MT in 2004/05. Food-grade soybeans are used in the manufacture
of soy-based products such as tofu, soy milk, and soy sauce. Most of the
food beans are brought in via containers primarily from Canada, the U.S.
and China.

**Factors Affecting U.S. Trade**

Currently, the main concern is the effect of the avian influenza (AI)
outbreak in the region on consumer confidence and poultry consumption.
Although Malaysia is still declared free from AI, poultry farmers are
reducing poultry production in order to avoid an oversupply situation.
Livestock farmers are also concerned over the effect of the current
surge in feed-prices and sea freights on their profit margins.

Severe Competition: Argentine bean and meal \-- and lately, Chinese soy
meal to a lesser extent \-- have made major inroads into the Malaysian
market in the recent years. Price is still a major factor in the buying
process.

The addition of new facilities at Westport in Port Klang will further
enhance the position of the U.S. as the principal supplier of soybeans.
Private storage facilities and crushing mills are being planned or
constructed near the Panamax berths at Westport. These facilities will
provide a first stop for Panamax vessels. When these ships are partly
unloaded at the deep-water berth at Westport, they will then be able to
go on to shallower ports to service older existing crushing mills.

**Market Development Opportunities**

A significant increase in soymeal consumption in Malaysia will largely
depend on a robust pig industry. As an aftermath of the ravage caused by
the outbreak of the Nipah virus (Japanese Encephalitis) in 1999, the
farmers and governmental officials have to develop a modern, integrated
pig farm system. There are opportunities to link resources in the U.S.
to assist in the following areas:

a\. the use of good-quality US swine breeds/semen;

b\. improvement of nutrition for swine; and

c\. transfer of technical knowledge on swine management, swine housing,
waste treatment and slaughter plants.

The National Swine Registry (NSR) conducted technical seminars in three
locations in East Malaysia in early March. Officials in Sarawak showed
seriousness in developing a modern, integrated pig farm system. Further,
education on breeds should be coupled with education on sound nutrition,
to help preserve breed integrity and promote U.S. feeds. Educational cum
buying missions to the U.S. should also be considered in face of growing
competition from the European counterparts.

With the GOM's intention to make Malaysia the leading 'halal' food
manufacturing center in the world, ASA has ample opportunities to
promote the production of soy food, especially in the areas of health,
organic and snack food (such as soy ice-cream). Post's commercial
section has interest in promoting machinery/equipment in the same sector
and should able to provide leads to potential investors.

## 2. Palm Kernel {#palm-kernel .unnumbered}

Malaysia is the world\'s leading producer of palm kernel. Palm kernel
output rose 8.3 percent to 3.6 MMT in MY2002/03. In line with the
expected increase in CPO output, the outlook for 2003/04 is for an
increase in kernel production. A small increase in production is
expected in 2004/05 due to an expansion of fruit- bearing area.

There are no exports of palm kernel as all domestic output is crushed
locally.

## 3. Copra {#copra .unnumbered}

Total area under coconut cultivation has dropped steadily over the
years. Harvested area in PS&Ds is only for copra delivered to crushers
and not for food-use. This explains the big gap between planted and
harvested area. Most of the copra was consumed as food leaving a smaller
amount for the crushing sector. The outlook for copra output is on a
slow downtrend in the near term.

In CY2003, Malaysian imported about 15 TMT of copra, mainly from
Indonesia and Thailand. Exports were insignificant.

With better economic returns available from oil palm and a lack of
interest by the GOM to support or encourage coconut production, the
long-term viability of this industry is in doubt. Future production will
likely be limited to the cultivation of coconut to meet only domestic
requirements for food-use.

##  {#section .unnumbered}

# TOTAL OILMEALS

## 1. Soybean Meal {#soybean-meal .unnumbered}

**Production and Imports**

A sharp drop in domestic demand for soybean meal resulted in a big drop
in both locally produced as well as imported soybean meal in 2002/03.
The Severe Acute Respiratory Syndrome (SARS) crisis in 2003 had a
negative impact on the poultry and pig industry due to fewer travelers
to the country. Argentina was the top soybean meal supplier to Malaysia
in 2002/03, accounting for over 80 percent of the Malaysian meal import
market.

Post expects domestic soymeal imports to rebound by 11 percent to 495
TMT in 2003/04. It would have been higher if not for the current avian
influenza (AI) outbreak in the region and livestock farmers' concern
over the current surge in feed-prices and sea freights. Except for some
dehulled soymeal, it is unlikely that the local traders would purchase
U.S. meal during this current marketing year.

**Trade Policy & Market Access**

Please refer to Trade Policy & Market Access under Total Oilseeds
(Soybean).

**Consumption**

The Malaysian pig sector is expected to perform better than the poultry
sector in the current year (2003/2004) as the AI "crisis" in the region
is not affecting pig production. Farmers are still interested to import
breeding pigs. Ex-farm prices pigs are attractive and Post expects
domestic soybean meal consumption to increase by 10 to 11 percent in
2003/04.

**Market Development Opportunities**

Please see 'Market Development Opportunities ' section under Total
Oilseeds (Soybean).

## 2. Palm Kernel Meal {#palm-kernel-meal .unnumbered}

In line with the increase in palm kernel output, palm kernel meal (PKM)
production increased to 1.9 MMT in 2002/03. Essentially a by-product of
the palm oil industry, it is used primarily in cattle feed. With a very
small domestic beef and dairy cattle sector, only minimal quantities are
consumed locally. In 2002/03, 1.8 MMT of PKM were exported with the bulk
going to the Netherlands, Germany, Australia and South Korea. The ban on
the use of meat and bone meal in various countries has opened many more
overseas markets for Malaysian PKM exports.

## 3. Copra Meal {#copra-meal .unnumbered}

In line with an increase in crushing activities, Malaysian copra meal
output rose to 25 TMT in CY2003. The future copra meal production over
the near term will largely depend on copra imports. The domestic feed
industry consumes most of the local meal output. Malaysia exported only
3,000 MT of copra meal, mainly to Taiwan in CY2003

## 4. Fishmeal {#fishmeal .unnumbered}

##  {#section-1 .unnumbered}

In response to increasing overseas demand and rising fishmeal prices,
the local fishmeal production is expected to increase to 62 TMT in
CY2004. Imports are expected to be in a decline due to over-fishing. In
normal years, Malaysian exporters diverted much of their fishmeal output
to overseas markets. Exports amounted to 43 TMT in CY2003, mainly to
Japan, Vietnam, the Philippines, Indonesia and Bangladesh.

# TOTAL OILS

## 1. Palm Oil {#palm-oil .unnumbered}

Malaysia continues to lead the world in the production of palm and palm
kernel oils and is the largest exporter of vegetable oils (mainly palm
oil). Malaysia met about 15.5 percent of the global consumption of
vegetable oils in 2002/03. Domestic crude palm oil (CPO) production
surged by 11% to 13.2 million metric tons (MMT) in 2002/03. Yields
rebound as the palms recovered from the biological stress experienced in
2001/02.

Yields are expected to decline due to a cyclical downturn in 2003/04.
However, with an addition of 63,000 hectares of palms reaching
fruit-bearing stage, Post forecasts CPO production to increase to 13.7
MMT in 2003/04. As for 2004/05, Post expects that the decline in yield
to continue albeit at a slower rate. Despite the addition of 122,000
hectares reaching fruit-bearing stage, output is expected to increase
marginally to 13.8 MMT. The following table compares Post\'s quarterly
forecasts for MY2003/04 and 2004/05 (Oct/Sep) with actual production
figures for the previous two years.

+-----------+-----------+------------+-----------------+---------------+
|           | Final     | Revised    | Forecast        | Forecast      |
|           |           |            |                 |               |
|           | 2001/2002 | 2002/2003  | 2003/04         | 2004/05       |
+-----------+-----------+------------+-----------------+---------------+
| (1,000    |           |            |                 |               |
| tons)     |           |            |                 |               |
+-----------+-----------+------------+-----------------+---------------+
| Oct-Dec   | 3155      | 3206       | 3380            | 3310          |
+-----------+-----------+------------+-----------------+---------------+
| Jan-Mar   | 2602      | 2614       | 2900            | 3010          |
+-----------+-----------+------------+-----------------+---------------+
| Apr-Jun   | 2732      | 3481       | 3520            | 3530          |
+-----------+-----------+------------+-----------------+---------------+
| Jul-Sep   | 3368      | 3879       | 3900            | 3950          |
+-----------+-----------+------------+-----------------+---------------+
| \--Total  | 11857     | 13180      | 13700           | 13800         |
+-----------+-----------+------------+-----------------+---------------+

Fruit-bearing area is expected to expand to 3.5 million hectares in
2003/04, while fully matured hectare equivalent (MHE) should reach 2.05
million hectares. CPO yield per matured hectare equivalent (MHE) is
expected to decline to from 6.79 tons per hectare in 2002/03 to 6.7 tons
in 2003/04. As for 2004/05, we expect a further drop in yield/MHE,
bringing CPO output to 13.8 MMT. The increase would mainly be the result
of an increase in fruit-bearing palms.

The following MHE/yield table is based on the October/September
marketing year:

  ------------ ----------- ----------- ----------- ----------- -----------
               2000/01     2001/02     2002/03     2003/04     2004/05

  Area-MHE     1,764       1,835       1,943       2,048       2,048
  (1,000 ha)                                                   

  Production   11,937      11,857      13,180      13,700      13,800
  (TMT)                                                        

  Yield-MHE    6.77        6.46        6.79        6.69        6.50
  (Ton/ha)                                                     
  ------------ ----------- ----------- ----------- ----------- -----------

NOTE: In calculating yields, the mature hectare equivalent (MHE)
approach has been used to account for the shifting age profile of
Malaysia\'s oil palm plantings. END NOTE

In 2002/03, domestic food use amounted to only 460 TMT or about 3.5 of
total CPO production. Cooking oil accounted for 80% while
margarine/shortening took the remaining 20% of the edible palm oil
market. Palm oil fractions dominated the local edible oil market.
Malaysia consumed a small amount of other oils, namely palm kernel oil
(about 9% market share), soybean (4%), sunflower (3%), corn (2%) and
coconut (1%). The livestock sector consumed about one percent of CPO
output. The rest of the palm oil went to the industrial sector, with a
significant amount being used in the oleo-chemical industry.

In terms of volume, Malaysia exported 9.1 MMT of palm oil during Jan-Sep
2003, an increase of 21 percent from the corresponding period of the
previous year. The top five destinations (India, Pakistan, China, the
Netherlands and Egypt) accounted for 57 percent of total exports.
According to preliminary data, exports for the whole of 2003 were
expected to be close to 12.7 MMT with China purchasing about 2.5 MMT,
followed by India (1.5 MMT) and Pakistan (1.1 MMT).

As would be expected, palm oil occupies the top position in export
earnings among Malaysia's vegetable oils. The surge in palm oil prices
resulted in a 45 percent increase in export earnings in 2003. With
current CPO prices hovering about US\$535/ton, an even bigger increase
in export earnings is expected in 2004. The following table compares the
export earnings for the major edible oils (in million RM, exchange rate:
US1 =RM3.779):

+----------------------+-----------+-----------+-----------+-----------+
|                      | > 2001    | > 2002    | > 2002    | > 2003    |
|                      |           |           | >         | >         |
|                      |           |           | >         | >         |
|                      |           |           | (Jan‑Sep) | (Jan‑Sep) |
+----------------------+-----------+-----------+-----------+-----------+
| > Palm Oil           | > 10031   | > 15054   | > 10306   | > 15185   |
+----------------------+-----------+-----------+-----------+-----------+
| > Palm Kernel Oil    | > 845     | > 1070    | > 759     | > 1024    |
+----------------------+-----------+-----------+-----------+-----------+
| > Soybean Oil        | > 333     | > 266     | > 242     | > 182     |
+----------------------+-----------+-----------+-----------+-----------+
| > Coconut Oil        | > 79      | > 160     | > 120     | > 230     |
+----------------------+-----------+-----------+-----------+-----------+
| > TOTAL OILS         | > 11288   | > 16550   | > 11427   | > 16621   |
+----------------------+-----------+-----------+-----------+-----------+
| > \% of Total Exp.   | > 3.3     | > 4.7     | > 4.3     | > 6.1     |
| > Earnings           |           |           |           |           |
+----------------------+-----------+-----------+-----------+-----------+

With the expected increase in CPO output, Malaysia is estimated to have
a bigger exportable surplus of about 12.2 MMT of palm oil in MY2003/04.
While demand from China, India, Pakistan and Egypt will likely continue
to be strong in 2003/04, Malaysia intends to sell more to Russia, the
Middle East and Eastern Europe. The GOM is encouraging plantation
companies to forge joint-ventures with buyers, allowing them to invest
in building bulking and refining facilities in importing countries.

## 2. Palm Kernel Oil {#palm-kernel-oil .unnumbered}

Palm kernel oil (PKO) production increased by 12.7 percent to 1.66 MMT
in 2002/03 due to an increase palm kernel crushing. PKO output is
expected to increase to 1.7 MMT in 2003/04. A further small growth is
expected in 2004/05.

The expanding local oleo-chemical industry utilized 58 percent of the
PKO production in 2003. With 16 oleochemical plants with a capacity of
1.9 MMT, there is much potential for growth in the Malaysian
oleo-chemical industry in the near term. The sector will continue to
compete with overseas buyers for crude as well as processed PKO.

PKO exports rose 16 percent to 732 TMT in 2003/04. The U.S., the
Netherlands, China, Sri Lanka and Japan were the top destination
markets. With an expected increase in PKO output in 2002/03, about 700
TMT of PKO are expected to be available for exports.

## 3. Soybean Oil {#soybean-oil .unnumbered}

In line with a sharp drop in soy crush, local soyoil production
plummeted by 44 percent to 59 TMT in 2002/03. With expected expansion in
soy crush in the near future, domestic soyoil output is expected to
increase to 77 TMT in 2003/04 and 93 TMT in 2004/05.

Soybean oil consumption accounts for less than 4 percent of total food
use consumption of oil in Malaysia. Soyoil is consumed primarily as a
premium quality cooking oil and is priced well above the price for palm
oil. It is also blended with local tropical oils and sold in the
domestic retail market.

At times, Malaysian soy crushers continue to find it profitable to
refine imported crude soyoil for re-export to third countries. However
with the current high global soyoil prices, domestic soybean crushers
are likely to lower imports of crude soy oil for refining in 2003/04.
Singapore, the Philippines and Hong Kong are the main destinations for
Malaysia's value-added soyoil re-exports.

## 4. Coconut Oil {#coconut-oil .unnumbered}

In response to high global lauric oil prices, domestic coconut oil
output rose to 36 TMT in CY2003. The long-term outlook is not bright as
the local coconut industry has been relegated to supplying minor food
needs (desiccated coconut, coconut cream, etc). Coconut oil accounts for
only about one percent of total domestic oil consumption.

Imports reached 135 TMT in CY2003 with most of them further refined and
re-exported to third countries. Exports of refined coconut oil reached
about 166 TMT with major markets being Sri Lanka, China and Singapore.

**Oil, Palm PSD**

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

  **Country**      **Malaysia**                                                  

  **Commodity**    **Oil, Palm**                                   (1000         
                                                                   HA)(1000      
                                                                   TREES)(1000   
                                                                   MT)           

                   2002           Revised    2003       Estimate   2004          Forecast

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

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

  Area Planted     0              3790       0          3890       0             4000

  Area Harvested   0              3375       0          3495       0             3670

  Trees            0              0          0          0          0             0

  Beginning Stocks 1149           1149       975        975        1000          900

  Production       13180          13181      13400      13700      0             13800

  MY Imports       370            341        400        400        0             500

  MY Imp. from     0              0          0          0          0             0
  U.S.                                                                           

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

  TOTAL SUPPLY     14699          14671      14775      15075      1000          15200

  MY Exports       11650          12077      11775      12200      0             12300

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

  Industrial Dom.  1360           1009       1330       1330       0             1220
  Consum                                                                         

  Food Use Dom.    534            460        500        485        0             500
  Consump.                                                                       

  Feed Waste       180            150        170        160        0             180
  Consumption                                                                    

  TOTAL Dom.       2074           1619       2000       1975       0             1900
  Consumption                                                                    

  Ending Stocks    975            975        1000       900        0             1000

  TOTAL            14699          14671      14775      15075      0             15200
  DISTRIBUTION                                                                   

  Calendar Year    0              360        0          400        0             500
  Imports                                                                        

  Calendar Yr Imp. 0              0          0          0          0             0
  U.S.                                                                           

  Calendar Year    0              12650      0          12200      0             12300
  Exports                                                                        

  Calndr Yr Exp.   0              130        0          170        0             180
  to U.S.                                                                        
  ---------------- -------------- ---------- ---------- ---------- ------------- ----------

**Prices Table**

  ------------------- ------------ -------------------------- -------------
  **Prices Table**                                            

  **Country**         Malaysia                                

  **Commodity**       Oil, Palm                               

  Prices in           Ringgit      per uom                    Metric Ton

                                                              

  Year                2002         2003                       \% Change

  Jan                 1166         1653                       42%

  Feb                 1120         1602                       43%

  Mar                 1144         1501                       31%

  Apr                 1163         1454                       25%

  May                 1240         1471                       19%

  Jun                 1437         1513                       5%

  Jul                 1378         1500                       9%

  Aug                 1489         1392                       -7%

  Sep                 1402         1425                       2%

  Oct                 1389         1663                       20%

  Nov                 1566         1855                       18%

  Dec                 1627         1834                       13%

                                                              

  Exchange Rate       3.799        Local Currency/US \$       

  Date of Quote                    MM/DD/YYYY                 
  ------------------- ------------ -------------------------- -------------

**Import Trade Matrix**

+---------------------+--------------+---------------+---------------+
| **Import Trade      |              |               |               |
| Matrix**            |              |               |               |
+---------------------+--------------+---------------+---------------+
| **Country**         | Malaysia     |               |               |
+---------------------+--------------+---------------+---------------+
| **Commodity**       | Oil, Palm    |               |               |
+---------------------+--------------+---------------+---------------+
| Time Period         | 2002:        | Units:        | TMT           |
|                     |              |               |               |
|                     | Jan-Dec,     |               |               |
|                     |              |               |               |
|                     | 2003:        |               |               |
|                     |              |               |               |
|                     | Jan-Sep      |               |               |
+---------------------+--------------+---------------+---------------+
| Imports for:        | 2002         |               | **2003**      |
+---------------------+--------------+---------------+---------------+
| U.S.                |              | U.S.          |               |
+---------------------+--------------+---------------+---------------+
| Others              |              | Others        |               |
+---------------------+--------------+---------------+---------------+
| Indonesia           | 307          | Indonesia     | 212           |
+---------------------+--------------+---------------+---------------+
| Thailand            | 38           | Thailand      | 20            |
+---------------------+--------------+---------------+---------------+
|                     |              |               |               |
+---------------------+--------------+---------------+---------------+
|                     |              |               |               |
+---------------------+--------------+---------------+---------------+
|                     |              |               |               |
+---------------------+--------------+---------------+---------------+
|                     |              |               |               |
+---------------------+--------------+---------------+---------------+
|                     |              |               |               |
+---------------------+--------------+---------------+---------------+
|                     |              |               |               |
+---------------------+--------------+---------------+---------------+
|                     |              |               |               |
+---------------------+--------------+---------------+---------------+
|                     |              |               |               |
+---------------------+--------------+---------------+---------------+
| Total for Others    | 345          |               | 232           |
+---------------------+--------------+---------------+---------------+
| Others not Listed   |              |               |               |
+---------------------+--------------+---------------+---------------+
| Grand Total         | 345          |               | 232           |
+---------------------+--------------+---------------+---------------+

**Export Trade Matrix**

+--------------------+----------------+---------------+---------------+
| **Export Trade     |                |               |               |
| Matrix**           |                |               |               |
+--------------------+----------------+---------------+---------------+
| **Country**        | Malaysia       |               |               |
+--------------------+----------------+---------------+---------------+
| **Commodity**      | Oil, Palm      |               |               |
+--------------------+----------------+---------------+---------------+
| Time Period        | 2002:          | Units:        | TMT           |
|                    |                |               |               |
|                    | Jan-Dec, 2003: |               |               |
|                    |                |               |               |
|                    | Jan-Sep        |               |               |
+--------------------+----------------+---------------+---------------+
| Exports for:       | 2002           |               | **2003**      |
+--------------------+----------------+---------------+---------------+
| U.S.               | 162            | U.S.          | 96            |
+--------------------+----------------+---------------+---------------+
| Others             |                | Others        |               |
+--------------------+----------------+---------------+---------------+
| China              | 1935           | China         | 1820          |
+--------------------+----------------+---------------+---------------+
| India              | 1606           | India         | 1255          |
+--------------------+----------------+---------------+---------------+
| Pakistan           | 1027           | Pakistan      | 812           |
+--------------------+----------------+---------------+---------------+
| Netherlands        | 790            | Netherlands   | 655           |
+--------------------+----------------+---------------+---------------+
| Egypt              | 495            | Egypt         | 648           |
+--------------------+----------------+---------------+---------------+
| Japan              | 434            | Singapore     | 328           |
+--------------------+----------------+---------------+---------------+
| Singapore          | 397            | Japan         | 319           |
+--------------------+----------------+---------------+---------------+
| Hong Kong          | 284            | U.A. Emirates | 189           |
+--------------------+----------------+---------------+---------------+
| Saudi Arabia       | 265            | Turkey        | 177           |
+--------------------+----------------+---------------+---------------+
| U.A. Emirates      | 229            | Bangladesh    | 173           |
+--------------------+----------------+---------------+---------------+
| Total for Others   | 7462           |               | 6376          |
+--------------------+----------------+---------------+---------------+
| Others not Listed  | 2856           |               | 2643          |
+--------------------+----------------+---------------+---------------+
| Grand Total        | 10480          |               | 9115          |
+--------------------+----------------+---------------+---------------+

**Oilseeds, Palm Kernel PSD**

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

  **Country**        **Malaysia**                                                  

  **Commodity**      **Oilseed,                                      (1000         
                     Palm Kernel**                                   HA)(1000      
                                                                     TREES)(1000   
                                                                     MT)           

                     2002           Revised    2003       Estimate   2004          Forecast

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

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

  Area Planted       0              3790       0          3890       0             4000

  Area Harvested     3200           3375       0          3495       0             3670

  Trees              0              0          0          0          0             0

  Beginning Stocks   105            152        110        115        115           110

  Production         3571           3572       3830       3800       0             3820

  MY Imports         30             0          32         0          0             0

  MY Imp. from U.S.  0              0          0          0          0             0

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

  TOTAL SUPPLY       3706           3724       3972       3915       115           3930

  MY Exports         22             0          23         0          0             0

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

  Crush Dom.         3574           3609       3834       3805       0             3820
  Consumption                                                                      

  Food Use Dom.      0              0          0          0          0             0
  Consump.                                                                         

  Feed,Seed,Waste    0              0          0          0          0             0
  Dm.Cn.                                                                           

  TOTAL Dom.         3574           3609       3834       3805       0             3820
  Consumption                                                                      

  Ending Stocks      110            115        115        110        0             110

  TOTAL DISTRIBUTION 3706           3724       3972       3915       0             3930

  Calendar Year      0              0          0          0          0             0
  Imports                                                                          

  Calendar Yr Imp.   0              0          0          0          0             0
  U.S.                                                                             

  Calendar Year      0              0          0          0          0             0
  Exports                                                                          

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

**Price Table**

  ------------------- ---------------- ----------------- -----------------
  **Prices Table**                                       

  **Country**         Malaysia                           

  **Commodity**       Oilseed, Palm                      
                      Kernel                             

  Prices in           Ringgit          per uom           Metric Ton

                                                         

  Year                2002             2003              \% Change

  Jan                 522              814               56%

  Feb                 580              783               35%

  Mar                 581              730               26%

  Apr                 629              658               5%

  May                 684              668               -2%

  Jun                 733              684               -7%

  Jul                 714              641               -10%

  Aug                 729              607               -17%

  Sep                 674              676               0%

  Oct                 665              817               23%

  Nov                 765              918               20%

  Dec                 822              1001              22%

                                                         

  Exchange Rate       3.799            Local Currency/US 
                                       \$                

  Date of Quote                        MM/DD/YYYY        
  ------------------- ---------------- ----------------- -----------------

**Meal, Palm Kernel PSD**

+------------------+---------+-------+-------+-------+-------+--------+
| ###### PSD Table |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| **Country**      | **Mal   |       |       |       |       |        |
|                  | aysia** |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| **Commodity**    | **Meal, |       |       |       | (1000 |        |
|                  | Palm    |       |       |       | MT    |        |
|                  | K       |       |       |       | )(PER |        |
|                  | ernel** |       |       |       | CENT) |        |
+------------------+---------+-------+-------+-------+-------+--------+
|                  | 2002    | Re    | 2003  | Est   | 2004  | Fo     |
|                  |         | vised |       | imate |       | recast |
+------------------+---------+-------+-------+-------+-------+--------+
|                  | USDA    | Post  | USDA  | Post  | USDA  | Post   |
|                  | O       | Est   | Off   | Est   | Off   | Es     |
|                  | fficial | imate | icial | imate | icial | timate |
|                  | \[Old\] | \[    | \[    | \[    | \[    | \      |
|                  |         | New\] | Old\] | New\] | Old\] | [New\] |
+------------------+---------+-------+-------+-------+-------+--------+
| **Market Year    |         | 10    |       | 10    |       | 1      |
| Begin**          |         | /2002 |       | /2003 |       | 0/2004 |
+------------------+---------+-------+-------+-------+-------+--------+
| Crush            | 3574    | 3609  | 3834  | 3805  | 0     | 3820   |
+------------------+---------+-------+-------+-------+-------+--------+
| Extr. Rate,      | 0       | 0.5   | 0.5   | 0.5   | #D    | 0.     |
| 999.9999         | .561556 | 36991 | 39124 | 36137 | IV/0! | 536649 |
+------------------+---------+-------+-------+-------+-------+--------+
| Beginning Stocks | 174     | 227   | 280   | 227   | 346   | 200    |
+------------------+---------+-------+-------+-------+-------+--------+
| Production       | 2007    | 1938  | 2067  | 2040  | 0     | 2050   |
+------------------+---------+-------+-------+-------+-------+--------+
| MY Imports       | 0       | 0     | 0     | 0     | 0     | 0      |
+------------------+---------+-------+-------+-------+-------+--------+
| MY Imp. from     | 0       | 0     | 0     | 0     | 0     | 0      |
| U.S.             |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| MY Imp. from the | 0       | 0     | 0     | 0     | 0     | 0      |
| EC               |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| TOTAL SUPPLY     | 2181    | 2165  | 2347  | 2267  | 346   | 2250   |
+------------------+---------+-------+-------+-------+-------+--------+
| MY Exports       | 1730    | 1760  | 1800  | 1880  | 0     | 1860   |
+------------------+---------+-------+-------+-------+-------+--------+
| MY Exp. to the   | 0       | 0     | 0     | 0     | 0     | 0      |
| EC               |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| Industrial Dom.  | 0       | 0     | 0     | 0     | 0     | 0      |
| Consum           |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| Food Use Dom.    | 0       | 0     | 0     | 0     | 0     | 0      |
| Consump.         |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| Feed Waste Dom.  | 171     | 178   | 201   | 187   | 0     | 200    |
| Consum           |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| TOTAL Dom.       | 171     | 178   | 201   | 187   | 0     | 200    |
| Consumption      |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| Ending Stocks    | 280     | 227   | 346   | 200   | 0     | 190    |
+------------------+---------+-------+-------+-------+-------+--------+
| TOTAL            | 2181    | 2165  | 2347  | 2267  | 0     | 2250   |
| DISTRIBUTION     |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| Calendar Year    | 0       | 0     | 0     | 0     | 0     | 0      |
| Imports          |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| Calendar Yr Imp. | 0       | 0     | 0     | 0     | 0     | 0      |
| U.S.             |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| Calendar Year    | 0       | 1800  | 0     | 1880  | 0     | 1860   |
| Exports          |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+
| Calndr Yr Exp.   | 0       | 0     | 0     | 0     | 0     | 0      |
| to U.S.          |         |       |       |       |       |        |
+------------------+---------+-------+-------+-------+-------+--------+

**Export Trade Matrix**

+--------------------+---------------+---------------+---------------+
| **Export Trade     |               |               |               |
| Matrix**           |               |               |               |
+--------------------+---------------+---------------+---------------+
| **Country**        | Malaysia      |               |               |
+--------------------+---------------+---------------+---------------+
| **Commodity**      | Meal, Palm    |               |               |
|                    | Kernel        |               |               |
+--------------------+---------------+---------------+---------------+
| Time Period        | 2002:         | Units:        | TMT           |
|                    |               |               |               |
|                    | Jan-Dec,      |               |               |
|                    | 2003:         |               |               |
|                    |               |               |               |
|                    | Jan-Sep       |               |               |
+--------------------+---------------+---------------+---------------+
| Exports for:       | 2002          |               | **2003**      |
+--------------------+---------------+---------------+---------------+
| U.S.               |               | U.S.          | 1             |
+--------------------+---------------+---------------+---------------+
| Others             |               | Others        |               |
+--------------------+---------------+---------------+---------------+
| Netherlands        | 1086          | Netherlands   | 865           |
+--------------------+---------------+---------------+---------------+
| Germany, FR        | 242           | Germany, FR   | 230           |
+--------------------+---------------+---------------+---------------+
| Korea Rep.         | 130           | Australia     | 91            |
+--------------------+---------------+---------------+---------------+
| New Zealand        | 38            | Korea Rep.    | 63            |
+--------------------+---------------+---------------+---------------+
| Australia          | 35            | New Zealand   | 28            |
+--------------------+---------------+---------------+---------------+
| Vietnam            | 22            | Niger         | 20            |
+--------------------+---------------+---------------+---------------+
| Spain              | 13            | Vietnam       | 13            |
+--------------------+---------------+---------------+---------------+
| Japan              | 7             | Spain         | 2             |
+--------------------+---------------+---------------+---------------+
| Iran, Islam Rep    | 5             | Japan         | 4             |
+--------------------+---------------+---------------+---------------+
| Singapore          | 1             | Romania       | 1             |
+--------------------+---------------+---------------+---------------+
| Total for Others   | 1579          |               | 1317          |
+--------------------+---------------+---------------+---------------+
| Others not Listed  | 1             |               | 5             |
+--------------------+---------------+---------------+---------------+
| Grand Total        | 1580          |               | 1323          |
+--------------------+---------------+---------------+---------------+

**Oil, Palm Kernel PSD**

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

  **Country**        **Malaysia**                                                   

  **Commodity**      **Oil, Palm                                     (1000          
                     Kernel**                                        MT)(PERCENT)   

                     2002           Revised    2003       Estimate   2004           Forecast

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

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

  Crush              3574           3609       3834       3805       0              3820

  Extr. Rate,        0.443481       0.45913    0.443401   0.446781   #DIV/0!        0.447644
  999.9999                                                                          

  Beginning Stocks   250            302        265        222        295            200

  Production         1585           1657       1700       1700       0              1710

  MY Imports         200            131        220        140        0              160

  MY Imp. from U.S.  0              0          0          0          0              0

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

  TOTAL SUPPLY       2035           2090       2185       2062       295            2070

  MY Exports         680            732        710        700        0              680

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

  Industrial Dom.    1000           1046       1078       1060       0              1070
  Consum                                                                            

  Food Use Dom.      90             90         102        102        0              110
  Consump.                                                                          

  Feed Waste Dom.    0              0          0          0          0              0
  Consum                                                                            

  TOTAL Dom.         1090           1136       1180       1162       0              1180
  Consumption                                                                       

  Ending Stocks      265            222        295        200        0              210

  TOTAL DISTRIBUTION 2035           2090       2185       2062       0              2070

  Calendar Year      0              107        0          140        0              160
  Imports                                                                           

  Calendar Yr Imp.   0              0          0          0          0              0
  U.S.                                                                              

  Calendar Year      0              784        0          700        0              680
  Exports                                                                           

  Calndr Yr Exp. to  0              180        0          190        0              200
  U.S.                                                                              
  ------------------ -------------- ---------- ---------- ---------- -------------- ----------

**Prices Table**

  ------------------ ----------------- ----------------- -----------------
  **Country**        Malaysia                            

  **Commodity**      Oil, Palm Kernel                    

  Prices in          Ringgit           per uom           Metric Ton

                                                         

  Year               2002              2003              \% Change

  Jan                1100              1777              62%

  Feb                1213              1683              39%

  Mar                1211              1600              32%

  Apr                1320              1445              9%

  May                1398              1455              4%

  Jun                1527              1484              -3%

  Jul                1507              1427              -5%

  Aug                1550              1340              -14%

  Sep                1448              1431              -1%

  Oct                1433              1665              16%

  Nov                1620              1813              12%

  Dec                1742              2084              20%

                                                         

  Exchange Rate      3.799             Local Currency/US 
                                       \$                

  Date of Quote                        MM/DD/YYYY        
  ------------------ ----------------- ----------------- -----------------

**Import Trade Matrix**

+--------------------+--------------+----------------+----------------+
| **Import Trade     |              |                |                |
| Matrix**           |              |                |                |
+--------------------+--------------+----------------+----------------+
| **Country**        | Malaysia     |                |                |
+--------------------+--------------+----------------+----------------+
| **Commodity**      | Oil, Palm    |                |                |
|                    | Kernel       |                |                |
+--------------------+--------------+----------------+----------------+
| Time Period        | 2002:        | Units:         | TMT            |
|                    |              |                |                |
|                    | Jan-Dec,     |                |                |
|                    | 2003:        |                |                |
|                    |              |                |                |
|                    | Jan-Sep      |                |                |
+--------------------+--------------+----------------+----------------+
| Imports for:       | 2002         |                | **2003**       |
+--------------------+--------------+----------------+----------------+
| U.S.               |              | U.S.           |                |
+--------------------+--------------+----------------+----------------+
| Others             |              | Others         |                |
+--------------------+--------------+----------------+----------------+
| Indonesia          | 40           | Indonesia      | 62             |
+--------------------+--------------+----------------+----------------+
| Thailand           | 39           | Thailand       | 22             |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
| Total for Others   | 79           |                | 84             |
+--------------------+--------------+----------------+----------------+
| Others not Listed  |              |                |                |
+--------------------+--------------+----------------+----------------+
| Grand Total        | 79           |                | 84             |
+--------------------+--------------+----------------+----------------+

**Export Trade Matrix**

+--------------------+--------------+----------------+----------------+
| **Export Trade     |              |                |                |
| Matrix**           |              |                |                |
+--------------------+--------------+----------------+----------------+
| **Country**        | Malaysia     |                |                |
+--------------------+--------------+----------------+----------------+
| **Commodity**      | Oil, Palm    |                |                |
|                    | Kernel       |                |                |
+--------------------+--------------+----------------+----------------+
| Time Period        | 2002:        | Units:         | TMT            |
|                    |              |                |                |
|                    | Jan-Dec,     |                |                |
|                    | 2003:        |                |                |
|                    |              |                |                |
|                    | Jan-Sep      |                |                |
+--------------------+--------------+----------------+----------------+
| Exports for:       | 2002         |                | **2003**       |
+--------------------+--------------+----------------+----------------+
| U.S.               | 180          | U.S.           | 122            |
+--------------------+--------------+----------------+----------------+
| Others             |              | Others         |                |
+--------------------+--------------+----------------+----------------+
| Netherlands        | 69           | Netherlands    | 46             |
+--------------------+--------------+----------------+----------------+
| Japan              | 50           | China          | 44             |
+--------------------+--------------+----------------+----------------+
| Singapore          | 42           | Sri Lanka      | 44             |
+--------------------+--------------+----------------+----------------+
| China              | 42           | Japan          | 39             |
+--------------------+--------------+----------------+----------------+
| Brazil             | 29           | Singapore      | 28             |
+--------------------+--------------+----------------+----------------+
| Sri Lanka          | 25           | Turkey         | 28             |
+--------------------+--------------+----------------+----------------+
| South Africa       | 22           | South Africa   | 26             |
+--------------------+--------------+----------------+----------------+
| Egypt              | 21           | Brazil         | 21             |
+--------------------+--------------+----------------+----------------+
| Thailand           | 18           | Thailand       | 21             |
+--------------------+--------------+----------------+----------------+
| India              | 16           | India          | 17             |
+--------------------+--------------+----------------+----------------+
| Total for Others   | 334          |                | 314            |
+--------------------+--------------+----------------+----------------+
| Others not Listed  | 146          |                | 127            |
+--------------------+--------------+----------------+----------------+
| Grand Total        | 660          |                | 563            |
+--------------------+--------------+----------------+----------------+

**Oilseeds, Soybean PSD**

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

  **Country**          **Malaysia**                                               

  **Commodity**        **Oilseed,                                      (1000      
                       Soybean**                                       HA)(1000   
                                                                       MT)        

                       2002           Revised    2003       Estimate   2004       Forecast

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

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

  Area Planted         0              0          0          0          0          0

  Area Harvested       0              0          0          0          0          0

  Beginning Stocks     90             86         77         77         80         80

  Production           0              0          0          0          0          0

  MY Imports           544            544        650        600        0          700

  MY Imp. from U.S.    241            203        190        240        0          260

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

  TOTAL SUPPLY         634            630        727        677        80         780

  MY Exports           25             23         35         20         0          25

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

  Crush Dom.           397            395        466        435        0          520
  Consumption                                                                     

  Food Use Dom.        118            118        128        124        0          130
  Consump.                                                                        

  Feed,Seed,Waste      17             17         18         18         0          20
  Dm.Cn.                                                                          

  TOTAL Dom.           532            530        612        577        0          670
  Consumption                                                                     

  Ending Stocks        77             77         80         80         0          85

  TOTAL DISTRIBUTION   634            630        727        677        0          780

  Calendar Year                       620        0          600        0          700
  Imports                                                                         

  Calendar Yr Imp.     0              255        0          240        0          260
  U.S.                                                                            

  Calendar Year        0              24         0          20         0          25
  Exports                                                                         

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

**Import Trade Matrix**

+--------------------+--------------+----------------+----------------+
| **Country**        | Malaysia     |                |                |
+--------------------+--------------+----------------+----------------+
| **Commodity**      | Oilseed,     |                |                |
|                    | Soybean      |                |                |
+--------------------+--------------+----------------+----------------+
| Time Period        | 2002:        | Units:         | TMT            |
|                    |              |                |                |
|                    | Jan-Dec,     |                |                |
|                    | 2003:        |                |                |
|                    |              |                |                |
|                    | Jan-Sep      |                |                |
+--------------------+--------------+----------------+----------------+
| Imports for:       | 2002         |                | **2003**       |
+--------------------+--------------+----------------+----------------+
| U.S.               | 224          | U.S.           | 168            |
+--------------------+--------------+----------------+----------------+
| Others             |              | Others         |                |
+--------------------+--------------+----------------+----------------+
| Argentina          | 308          | Argentina      | 159            |
+--------------------+--------------+----------------+----------------+
| Canada             | 88           | Canada         | 75             |
+--------------------+--------------+----------------+----------------+
| China              | 25           | Brazil         | 30             |
+--------------------+--------------+----------------+----------------+
| Brazil             | 11           | Australia      | 20             |
+--------------------+--------------+----------------+----------------+
| Singapore          | 5            | China          | 12             |
+--------------------+--------------+----------------+----------------+
| Thailand           | 2            |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
| Total for Others   | 439          |                | 296            |
+--------------------+--------------+----------------+----------------+
| Others not Listed  | 1            |                | 1              |
+--------------------+--------------+----------------+----------------+
| Grand Total        | 664          |                | 465            |
+--------------------+--------------+----------------+----------------+

**Meal, Soybean PSD**

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

  **Country**        **Malaysia**                                                   

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

                     2002           Revised    2003       Estimate   2004           Forecast

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

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

  Crush              397            395        466        435        0              520

  Extr. Rate,        0.775819       0.779747   0.785408   0.770115   #DIV/0!        0.778846
  999.9999                                                                          

  Beginning Stocks   72             57         74         55         77             60

  Production         308            308        366        335        0              405

  MY Imports         650            445        678        495        0              515

  MY Imp. from U.S.  10             0          10         0          0              0

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

  TOTAL SUPPLY       1030           810        1118       885        77             980

  MY Exports         20             33         25         25         0              30

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

  Industrial Dom.    0              0          0          0          0              0
  Consum                                                                            

  Food Use Dom.      0              0          0          0          0              0
  Consump.                                                                          

  Feed Waste Dom.    936            722        1016       800        0              880
  Consum                                                                            

  TOTAL Dom.         936            722        1016       800        0              880
  Consumption                                                                       

  Ending Stocks      74             55         77         60         0              70

  TOTAL DISTRIBUTION 1030           810        1118       885        0              980

  Calendar Year      0              440        0          495        0              515
  Imports                                                                           

  Calendar Yr Imp.   0              0          0          0          0              0
  U.S.                                                                              

  Calendar Year      0              30         0          25         0              30
  Exports                                                                           

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

**Import Trade Matrix**

+----------------------+--------------+--------------+----------------+
| **Import Trade       |              |              |                |
| Matrix**             |              |              |                |
+----------------------+--------------+--------------+----------------+
| **Country**          | Malaysia     |              |                |
+----------------------+--------------+--------------+----------------+
| **Commodity**        | Meal,        |              |                |
|                      | Soybean      |              |                |
+----------------------+--------------+--------------+----------------+
| Time Period          | 2002:        | Units:       | TMT            |
|                      |              |              |                |
|                      | Jan-Dec;     |              |                |
|                      | 2003:        |              |                |
|                      |              |              |                |
|                      | Jan-Sep      |              |                |
+----------------------+--------------+--------------+----------------+
| Imports for:         | 2002         |              | **2003**       |
+----------------------+--------------+--------------+----------------+
| U.S.                 |              | U.S.         |                |
+----------------------+--------------+--------------+----------------+
| Others               |              | Others       |                |
+----------------------+--------------+--------------+----------------+
| Argentina            | 349          | Argentina    | 244            |
+----------------------+--------------+--------------+----------------+
| China                | 99           | China        | 47             |
+----------------------+--------------+--------------+----------------+
| Brazil               | 34           | Singapore    | 4              |
+----------------------+--------------+--------------+----------------+
| India                | 11           |              |                |
+----------------------+--------------+--------------+----------------+
| Singapore            | 6            |              |                |
+----------------------+--------------+--------------+----------------+
| U.A. Emirates        | 5            |              |                |
+----------------------+--------------+--------------+----------------+
| Kyrgyzstan           | 1            |              |                |
+----------------------+--------------+--------------+----------------+
|                      |              |              |                |
+----------------------+--------------+--------------+----------------+
|                      |              |              |                |
+----------------------+--------------+--------------+----------------+
|                      |              |              |                |
+----------------------+--------------+--------------+----------------+
| Total for Others     | 505          |              | 295            |
+----------------------+--------------+--------------+----------------+
| Others not Listed    | 2            |              | 1              |
+----------------------+--------------+--------------+----------------+
| Grand Total          | 507          |              | 296            |
+----------------------+--------------+--------------+----------------+

**Oil, Soybean PSD**

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

  **Country**        **Malaysia**                                                   

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

                     2002           Revised    2003       Estimate   2004           Forecast

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

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

  Crush              397            395        466        435        0              520

  Extr. Rate,        0.178841       0.177215   0.178112   0.177011   #DIV/0!        0.178846
  999.9999                                                                          

  Beginning Stocks   6              8          2          13         3              12

  Production         71             70         83         77         0              93

  MY Imports         126            59         145        45         0              50

  MY Imp. from U.S.  0              0          0          0          0              0

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

  TOTAL SUPPLY       203            137        230        135        3              155

  MY Exports         160            82         200        85         0              105

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

  Industrial Dom.    0              0          0          0          0              0
  Consum                                                                            

  Food Use Dom.      41             42         27         38         0              40
  Consump.                                                                          

  Feed Waste Dom.    0              0          0          0          0              0
  Consum                                                                            

  TOTAL Dom.         41             42         27         38         0              40
  Consumption                                                                       

  Ending Stocks      2              13         3          12         0              10

  TOTAL DISTRIBUTION 203            137        230        135        0              155

  Calendar Year      0              50         0          45         0              50
  Imports                                                                           

  Calendar Yr Imp.   0              0          0          0          0              0
  U.S.                                                                              

  Calendar Year      0              95         0          85         0              105
  Exports                                                                           

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

**Import Trade Matrix**

+--------------------+--------------+----------------+----------------+
| **Import Trade     |              |                |                |
| Matrix**           |              |                |                |
+--------------------+--------------+----------------+----------------+
| **Country**        | Malaysia     |                |                |
+--------------------+--------------+----------------+----------------+
| **Commodity**      | Oil, Soybean |                |                |
+--------------------+--------------+----------------+----------------+
| Time Period        | 2002:        | Units:         | TMT            |
|                    |              |                |                |
|                    | Jan-Dec;     |                |                |
|                    | 2003:        |                |                |
|                    |              |                |                |
|                    | Jan-Sep      |                |                |
+--------------------+--------------+----------------+----------------+
| Imports for:       | 2002         |                | **2003**       |
+--------------------+--------------+----------------+----------------+
| U.S.               |              | U.S.           |                |
+--------------------+--------------+----------------+----------------+
| Others             |              | Others         |                |
+--------------------+--------------+----------------+----------------+
| Argentina          | 63           | Argentina      | 24             |
+--------------------+--------------+----------------+----------------+
| Brazil             | 20           | Brazil         | 13             |
+--------------------+--------------+----------------+----------------+
| India              | 4            | Thailand       | 3              |
+--------------------+--------------+----------------+----------------+
| Japan              | 2            |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
| Total for Others   | 89           |                | 40             |
+--------------------+--------------+----------------+----------------+
| Others not Listed  |              |                |                |
+--------------------+--------------+----------------+----------------+
| Grand Total        | 89           |                | 40             |
+--------------------+--------------+----------------+----------------+

**Export Trade Matrix**

+--------------------+--------------+----------------+----------------+
| **Export Trade     |              |                |                |
| Matrix**           |              |                |                |
+--------------------+--------------+----------------+----------------+
| **Country**        | Malaysia     |                |                |
+--------------------+--------------+----------------+----------------+
| **Commodity**      | Oil, Soybean |                |                |
+--------------------+--------------+----------------+----------------+
| Time Period        | 2002:        | Units:         | TMT            |
|                    |              |                |                |
|                    | Jan-Dec;     |                |                |
|                    | 2003:        |                |                |
|                    |              |                |                |
|                    | Jan-Sep      |                |                |
+--------------------+--------------+----------------+----------------+
| Exports for:       | 2002         |                | **2003**       |
+--------------------+--------------+----------------+----------------+
| U.S.               | 1            | U.S.           |                |
+--------------------+--------------+----------------+----------------+
| Others             |              | Others         |                |
+--------------------+--------------+----------------+----------------+
| Singapore          | 29           | Singapore      | 18             |
+--------------------+--------------+----------------+----------------+
| Hong Kong          | 27           | Philippines    | 12             |
+--------------------+--------------+----------------+----------------+
| China              | 20           | Hong Kong      | 10             |
+--------------------+--------------+----------------+----------------+
| Korea Rep. Of      | 14           | Indonesia      | 6              |
+--------------------+--------------+----------------+----------------+
| Indonesia          | 8            | Australia      | 5              |
+--------------------+--------------+----------------+----------------+
| Philippines        | 8            | Korea Rep. Of  | 5              |
+--------------------+--------------+----------------+----------------+
| Australia          | 6            | Kuwait         | 3              |
+--------------------+--------------+----------------+----------------+
| Vietnam            | 6            | New Zealand    | 3              |
+--------------------+--------------+----------------+----------------+
| Bangladesh         | 5            | Japan          | 2              |
+--------------------+--------------+----------------+----------------+
| New Zealand        | 5            | P.N. Guinea    | 2              |
+--------------------+--------------+----------------+----------------+
| Total for Others   | 128          |                | 66             |
+--------------------+--------------+----------------+----------------+
| Others not Listed  | 16           |                | 7              |
+--------------------+--------------+----------------+----------------+
| Grand Total        | 145          |                | 73             |
+--------------------+--------------+----------------+----------------+

**Oilseeds, Copra PSD**

+----------------+--------+--------+--------+-------+--------+-------+
| **PSD Table**  |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| **Country**    | **Mala |        |        |       |        |       |
|                | ysia** |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| **Commodity**  | ###    |        |        |       | (1000  |       |
|                | ### Oi |        |        |       | HA     |       |
|                | lseed, |        |        |       | )(1000 |       |
|                |  Copra |        |        |       | TREES  |       |
|                |        |        |        |       | )(1000 |       |
|                |        |        |        |       | MT)    |       |
+----------------+--------+--------+--------+-------+--------+-------+
|                | 2002   | R      | 2003   | Est   | 2004   | For   |
|                |        | evised |        | imate |        | ecast |
+----------------+--------+--------+--------+-------+--------+-------+
|                | USDA   | Post   | USDA   | Post  | USDA   | Post  |
|                | Of     | Es     | Of     | Est   | Of     | Est   |
|                | ficial | timate | ficial | imate | ficial | imate |
|                | \      | \      | \      | \[    | \      | \[    |
|                | [Old\] | [New\] | [Old\] | New\] | [Old\] | New\] |
+----------------+--------+--------+--------+-------+--------+-------+
| **Market Year  |        | 0      |        | 01    |        | 01    |
| Begin**        |        | 1/2003 |        | /2004 |        | /2005 |
+----------------+--------+--------+--------+-------+--------+-------+
| Area Planted   | 0      | 110    | 0      | 105   | 0      | 100   |
+----------------+--------+--------+--------+-------+--------+-------+
| Area Harvested | 0      | 88     | 0      | 74    | 0      | 60    |
+----------------+--------+--------+--------+-------+--------+-------+
| Trees          | 0      | 0      | 0      | 0     | 0      | 0     |
+----------------+--------+--------+--------+-------+--------+-------+
| Beginning      | 4      | 5      | 4      | 4     | 4      | 5     |
| Stocks         |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| Production     | 12     | 44     | 11     | 37    | 0      | 30    |
+----------------+--------+--------+--------+-------+--------+-------+
| MY Imports     | 18     | 15     | 16     | 14    | 0      | 13    |
+----------------+--------+--------+--------+-------+--------+-------+
| MY Imp. from   | 0      | 0      | 0      | 0     | 0      | 0     |
| U.S.           |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| MY Imp. from   | 0      | 0      | 0      | 0     | 0      | 0     |
| the EC         |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| TOTAL SUPPLY   | 34     | 64     | 31     | 55    | 4      | 48    |
+----------------+--------+--------+--------+-------+--------+-------+
| MY Exports     | 0      | 3      | 0      | 3     | 0      | 4     |
+----------------+--------+--------+--------+-------+--------+-------+
| MY Exp. to the | 0      | 0      | 0      | 0     | 0      | 0     |
| EC             |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| Crush Dom.     | 30     | 57     | 27     | 47    | 0      | 44    |
| Consumption    |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| Food Use       | 0      | 0      | 0      | 0     | 0      | 0     |
+----------------+--------+--------+--------+-------+--------+-------+
| F              | 0      | 0      | 0      | 0     | 0      | 0     |
| eed,Seed,Waste |        |        |        |       |        |       |
| Dm.Cn.         |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| Total Dom.     | 30     | 57     | 27     | 47    | 0      | 44    |
| Consumption    |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| Ending Stocks  | 4      | 4      | 4      | 5     | 0      | 0     |
+----------------+--------+--------+--------+-------+--------+-------+
| TOTAL          | 34     | 64     | 31     | 55    | 0      | 48    |
| DISTRIBUTION   |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| Calendar Year  | 0      | 15     | 0      | 14    | 0      | 13    |
| Imports        |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| Calendar Yr    | 0      | 0      | 0      | 0     | 0      | 0     |
| Imp. U.S.      |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| Calendar Year  | 0      | 3      | 0      | 3     | 0      | 4     |
| Exports        |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+
| Calndr Yr Exp. | 0      | 0      | 0      | 0     | 0      | 0     |
| to U.S.        |        |        |        |       |        |       |
+----------------+--------+--------+--------+-------+--------+-------+

**Meal, Copra PSD**

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

  **Country**      **Malaysia**                                                   

  **Commodity**    **Meal,                                         (1000          
                   Copra**                                         MT)(PERCENT)   

                   2002           Revised    2003       Estimate   2004           Forecast

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

  **Market Year                   01/2003               01/2004                   01/2005
  Begin**                                                                         

  Crush            30             57         27         47         0              44

  Extr. Rate,      0              0.438596   0          0.425532   #DIV/0!        0.431818
  999.9999                                                                        

  Beginning Stocks 0              1          0          1          0              1

  Production       0              25         0          20         0              19

  MY Imports       0              1          0          0          0              0

  MY Imp. from     0              0          0          0          0              0
  U.S.                                                                            

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

  TOTAL SUPPLY     0              27         0          21         0              20

  MY Exports       0              3          0          3          0              3

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

  Industrial Dom.  0              23         0          17         0              16
  Consum                                                                          

  Food Use Dom.    0              0          0          0          0              0
  Consump.                                                                        

  Feed Waste Dom.  0              0          0          0          0              0
  Consum                                                                          

  TOTAL Dom.       0              23         0          17         0              16
  Consumption                                                                     

  Ending Stocks    0              1          0          1          0              1

  TOTAL            0              27         0          21         0              20
  DISTRIBUTION                                                                    

  Calendar Year    0              1          0          0          0              0
  Imports                                                                         

  Calendar Yr Imp. 0              0          0          0          0              0
  U.S.                                                                            

  Calendar Year    0              3          0          3          0              3
  Exports                                                                         

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

**Oil, Coconut PSD**

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

  **Country**        **Malaysia**                                                   

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

                     2002           Revised    2003       Estimate   2004           Forecast

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

  **Market Year                     01/2003               01/2004                   01/2005
  Begin**                                                                           

  Crush              30             57         27         47         0              44

  Extr. Rate,        0.633333       0.631579   0.62963    0.638298   #DIV/0!        0.636364
  999.9999                                                                          

  Beginning Stocks   8              7          7          6          8              7

  Production         19             36         17         30         0              28

  MY Imports         145            135        150        140        0              128

  MY Imp. from U.S.  0              0          0          0          0              0

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

  TOTAL SUPPLY       172            178        174        176        8              163

  MY Exports         147            166        146        160        0              140

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

  Industrial Dom.    0              0          0          0          0              0
  Consum                                                                            

  Food Use Dom.      18             6          20         9          0              15
  Consump.                                                                          

  Feed Waste Dom.    0              0          0          0          0              0
  Consum                                                                            

  TOTAL Dom.         18             6          20         9          0              15
  Consumption                                                                       

  Ending Stocks      7              6          8          7          0              8

  TOTAL DISTRIBUTION 172            178        174        176        0              163

  Calendar Year      0              135        0          140        0              128
  Imports                                                                           

  Calendar Yr Imp.   0              0          0          0          0              0
  U.S.                                                                              

  Calendar Year      0              166        0          160        0              140
  Exports                                                                           

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

**Import Trade Matrix**

+--------------------+--------------+----------------+----------------+
| **Import Trade     |              |                |                |
| Matrix**           |              |                |                |
+--------------------+--------------+----------------+----------------+
| **Country**        | Malaysia     |                |                |
+--------------------+--------------+----------------+----------------+
| **Commodity**      | Oil, Coconut |                |                |
+--------------------+--------------+----------------+----------------+
| Time Period        | 2002:        | Units:         | TMT            |
|                    |              |                |                |
|                    | Jan-Dec;     |                |                |
|                    | 2003:        |                |                |
|                    |              |                |                |
|                    | Jan-Sep      |                |                |
+--------------------+--------------+----------------+----------------+
| Imports for:       | 2002         |                | **2003**       |
+--------------------+--------------+----------------+----------------+
| U.S.               |              | U.S.           |                |
+--------------------+--------------+----------------+----------------+
| Others             |              | Others         |                |
+--------------------+--------------+----------------+----------------+
| Indonesia          | 64           | Philippines    | 53             |
+--------------------+--------------+----------------+----------------+
| Philippines        | 54           | Indonesia      | 35             |
+--------------------+--------------+----------------+----------------+
| Singapore          | 8            | Belgium        | 1              |
+--------------------+--------------+----------------+----------------+
| Thailand           | 2            |                |                |
+--------------------+--------------+----------------+----------------+
| Vietnam            | 1            |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
|                    |              |                |                |
+--------------------+--------------+----------------+----------------+
| Total for Others   | 129          |                | 89             |
+--------------------+--------------+----------------+----------------+
| Others not Listed  |              |                | 1              |
+--------------------+--------------+----------------+----------------+
| Grand Total        | 129          |                | 90             |
+--------------------+--------------+----------------+----------------+

**Export Trade Matrix**

+---------------------+---------------+---------------+----------------+
| **Export Trade      |               |               |                |
| Matrix**            |               |               |                |
+---------------------+---------------+---------------+----------------+
| **Country**         | Malaysia      |               |                |
+---------------------+---------------+---------------+----------------+
| **Commodity**       | Oil, Coconut  |               |                |
+---------------------+---------------+---------------+----------------+
| Time Period         | 2002:         | Units:        | TMT            |
|                     |               |               |                |
|                     | Jan-Dec;      |               |                |
|                     | 2003:         |               |                |
|                     |               |               |                |
|                     | Jan-Sep       |               |                |
+---------------------+---------------+---------------+----------------+
| Exports for:        | 2002          |               | **2003**       |
+---------------------+---------------+---------------+----------------+
| U.S.                | 12            | U.S.          | 19             |
+---------------------+---------------+---------------+----------------+
| Others              |               | Others        |                |
+---------------------+---------------+---------------+----------------+
| Singapore           | 18            | Sri Lanka     | 37             |
+---------------------+---------------+---------------+----------------+
| Sri Lanka           | 17            | China         | 15             |
+---------------------+---------------+---------------+----------------+
| China               | 8             | Singapore     | 13             |
+---------------------+---------------+---------------+----------------+
| Australia           | 5             | Australia     | 8              |
+---------------------+---------------+---------------+----------------+
| New Zealand         | 4             | Bangladesh    | 6              |
+---------------------+---------------+---------------+----------------+
| Spain               | 3             | India         | 4              |
+---------------------+---------------+---------------+----------------+
| Canada              | 3             | Spain         | 4              |
+---------------------+---------------+---------------+----------------+
| Korea Rep of        | 2             | Russian Fed.  | 4              |
+---------------------+---------------+---------------+----------------+
| Pakistan            | 2             | Pakistan      | 4              |
+---------------------+---------------+---------------+----------------+
| Bangladesh          | 2             | New Zealand   | 3              |
+---------------------+---------------+---------------+----------------+
| Total for Others    | 64            |               | 98             |
+---------------------+---------------+---------------+----------------+
| Others not Listed   | 27            |               | 23             |
+---------------------+---------------+---------------+----------------+
| Grand Total         | 103           |               | 140            |
+---------------------+---------------+---------------+----------------+

**Meal, Fish PSD**

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

  **Country**        **Malaysia**                                                   

  **Commodity**      **Meal, Fish**                                  (1000          
                                                                     MT)(PERCENT)   

                     2002           Revised    2003       Estimate   2004           Forecast

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

  **Market Year                     01/2003               01/2004                   01/2005
  Begin**                                                                           

  Catch For          0              0          0          0          0              0
  Reduction                                                                         

  Extr. Rate,        #DIV/0!        #DIV/0!    #DIV/0!    #DIV/0!    #DIV/0!        #DIV/0!
  999.9999                                                                          

  Beginning Stocks   1              1          1          1          1              1

  Production         38             59         38         62         0              64

  MY Imports         6              4          6          4          0              4

  MY Imp. from U.S.  0              0          0          0          0              0

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

  TOTAL SUPPLY       45             64         45         67         1              69

  MY Exports         25             43         25         44         0              45

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

  Industrial Dom.    0              0          0          0          0              0
  Consum                                                                            

  Food Use Dom.      0              0          0          0          0              0
  Consump.                                                                          

  Feed Waste Dom.    19             20         19         22         0              24
  Consum                                                                            

  TOTAL Dom.         19             20         19         22         0              24
  Consumption                                                                       

  Ending Stocks      1              1          1          1          0              0

  TOTAL DISTRIBUTION 45             64         45         67         0              69

  Calendar Year      0              4          0          4          0              4
  Imports                                                                           

  Calendar Yr Imp.   0              0          0          0          0              0
  U.S.                                                                              

  Calendar Year      0              43         0          44         0              45
  Exports                                                                           

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

**Import Trade Matrix**

+---------------------+---------------+---------------+----------------+
| **Import Trade      |               |               |                |
| Matrix**            |               |               |                |
+---------------------+---------------+---------------+----------------+
| **Country**         | Malaysia      |               |                |
+---------------------+---------------+---------------+----------------+
| **Commodity**       | Meal, Fish    |               |                |
+---------------------+---------------+---------------+----------------+
| Time Period         | 2002:         | Units:        | TMT            |
|                     |               |               |                |
|                     | Jan-Dec;      |               |                |
|                     | 2003:         |               |                |
|                     |               |               |                |
|                     | Jan-Sep       |               |                |
+---------------------+---------------+---------------+----------------+
| Imports for:        | 2002          |               | **2003**       |
+---------------------+---------------+---------------+----------------+
| U.S.                |               | U.S.          |                |
+---------------------+---------------+---------------+----------------+
| Others              |               | Others        |                |
+---------------------+---------------+---------------+----------------+
| Denmark             | 1             | Peru          | 1              |
+---------------------+---------------+---------------+----------------+
| Peru                | 1             |               |                |
+---------------------+---------------+---------------+----------------+
|                     |               |               |                |
+---------------------+---------------+---------------+----------------+
|                     |               |               |                |
+---------------------+---------------+---------------+----------------+
|                     |               |               |                |
+---------------------+---------------+---------------+----------------+
|                     |               |               |                |
+---------------------+---------------+---------------+----------------+
|                     |               |               |                |
+---------------------+---------------+---------------+----------------+
|                     |               |               |                |
+---------------------+---------------+---------------+----------------+
|                     |               |               |                |
+---------------------+---------------+---------------+----------------+
|                     |               |               |                |
+---------------------+---------------+---------------+----------------+
| Total for Others    | 2             |               | 1              |
+---------------------+---------------+---------------+----------------+
| Others not Listed   | 2             |               | 2              |
+---------------------+---------------+---------------+----------------+
| Grand Total         | 4             |               | 3              |
+---------------------+---------------+---------------+----------------+

**Export Trade Matrix**

+------------------+---------------+----------------+----------------+
| **Export Trade   |               |                |                |
| Matrix**         |               |                |                |
+------------------+---------------+----------------+----------------+
| **Country**      | Malaysia      |                |                |
+------------------+---------------+----------------+----------------+
| **Commodity**    | Meal, Fish    |                |                |
+------------------+---------------+----------------+----------------+
| Time Period      | 2002:         | Units:         | TMT            |
|                  |               |                |                |
|                  | Jan-Dec;      |                |                |
|                  | 2003:         |                |                |
|                  |               |                |                |
|                  | Jan-Sep       |                |                |
+------------------+---------------+----------------+----------------+
| Exports for:     | 2002          |                | **2003**       |
+------------------+---------------+----------------+----------------+
| U.S.             |               | U.S.           |                |
+------------------+---------------+----------------+----------------+
| Others           |               | Others         |                |
+------------------+---------------+----------------+----------------+
| Japan            | 13            | Vietnam        | 7              |
+------------------+---------------+----------------+----------------+
| Vietnam          | 10            | Indonesia      | 6              |
+------------------+---------------+----------------+----------------+
| Indonesia        | 5             | China          | 5              |
+------------------+---------------+----------------+----------------+
| Philippines      | 5             | Thailand       | 4              |
+------------------+---------------+----------------+----------------+
| Bangladesh       | 2             | Taiwan         | 2              |
+------------------+---------------+----------------+----------------+
| Thailand         | 2             | Sri Lanka      | 2              |
+------------------+---------------+----------------+----------------+
| Sri Lanka        | 1             | Japan          | 2              |
+------------------+---------------+----------------+----------------+
| Taiwan           | 1             | Bangladesh     | 2              |
+------------------+---------------+----------------+----------------+
| China            | 1             | India          | 2              |
+------------------+---------------+----------------+----------------+
| Singapore        | 1             | Singapore      | 1              |
+------------------+---------------+----------------+----------------+
| Total for Others | 41            |                | 33             |
+------------------+---------------+----------------+----------------+
| Others not       | 1             |                |                |
| Listed           |               |                |                |
+------------------+---------------+----------------+----------------+
| Grand Total      | 42            |                | 33             |
+------------------+---------------+----------------+----------------+