Required Report - public distribution

**Date:** 3/9/2006

**GAIN Report Number:** CH6006

CH6006

**China, Peoples Republic of**

**Oilseeds and Products**

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

**2006**

**Approved by:**

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

U.S. Embassy Beijing, Office of Agriculture Affairs

**Prepared by:**

James Butterworth and Wu Xinping

**Report Highlights:**

Despite the outbreak of avian influenza and several other diseases in
2005, China\'s oilseed demand remained strong and normal growth is
projected in the year ahead. Post forecasts MY06/07 soybean imports at
28.5 MMT and the preliminary estimate for MY05/06 to finish at 26.8 MMT.
China\'s domestic production of all oilseeds in MY05/06, including
soybeans, rapeseed, cottonseed, and peanuts, are estimated at 56.2 MMT,
down by 1.5 MMT over the year before, mainly because of small crops for
rapeseed and cottonseed. The total domestic oilseeds for MY06/07 is
forecast at 56.7 MMT, slightly higher than the year before. Large
multinational crushers accelerated their mergers and acquisitions of
small to medium sized local crushers. The large crushers in the coastal
regions will continue to rely on imported soybeans.

Includes PSD Changes: Yes

Includes Trade Matrix: Yes

Annual Report

Beijing \[CH1\]

\[CH\]

Table of Contents

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

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

[Total Oilseeds 4](#total-oilseeds)

[Soybeans 4](#soybeans)

[Production 4](#production)

[Trade 5](#trade)

[Policy 6](#policy)

[Marketing 7](#marketing)

[Stocks 7](#stocks)

[Rapeseed 7](#rapeseed)

[Peanuts 7](#peanuts)

[Sunflower Seeds 8](#sunflower-seeds)

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

[Soybean Meal 8](#soybean-meal)

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

[Trade 9](#trade-1)

[Fishmeal 10](#fishmeal)

[Cottonseed Meal 10](#cottonseed-meal)

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

[Total Oils 10](#total-oils)

[Soybean Oil 12](#soybean-oil)

[Rapeseed Oil 12](#rapeseed-oil)

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

[Statistics Tables 14](#statistics-tables)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

[Oils Tables 28](#oils-tables)

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

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

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

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

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

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

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

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

[Table 22. Wholesale Soybean Prices CY2005
35](#table-22.-wholesale-soybean-prices-cy2005)

[Table 23. Wholesale Soybean Meal Prices in CY2005
35](#table-23.-wholesale-soybean-meal-prices-in-cy2005)

[Table 24. Wholesale Soybean Oil Prices in CY2005
36](#table-24.-wholesale-soybean-oil-prices-in-cy2005)

[Table 26. A Comparison of Wholesale Prices for Soy & Rapeseed Oil in
CY2005
36](#table-26.-a-comparison-of-wholesale-prices-for-soy-rapeseed-oil-in-cy2005)

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

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

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

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

[Taxes and Duties Tables (Jan 01-Dec 31, 2006)
39](#taxes-and-duties-tables-jan-01-dec-31-2006)

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

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

[Table 32. Meals 40](#table-32.-meals)

# Executive Summary

Despite the outbreak of avian influenza and several other diseases that
occurred in China during 2005, China's oilseeds demand remained strong
and a moderate growth rate is projected in the year ahead. Post
forecasts MY06/07 soybean imports at 28.5 MMT and the preliminary
estimate for MY05/06 to finish at 26.8 MMT. China's domestic production
of all oilseeds in MY05/06, including soybeans, rapeseed, cottonseed,
and peanuts, is estimated to dropped about 1.5 MMT over the year before,
mainly because of small rapeseed and cottonseed crops. Forecast total
domestic production of oilseeds for MY06/07 is 56.7 MMT, slightly higher
than the 56.2 MMT the year before. Large multinational crushers
accelerated their mergers and acquisitions of small to medium sized
local crushers. The large crushers in the coastal regions will continue
to rely on imported soybeans.

With a 9.9 percent GDP increase in 2005, population growing by about 7
million per annum, and a growing middle class that has more disposable
income to spend on meats, oils, fish, and dairy products, the long-term
outlook for oilseeds and related products in China remains very bright.

This report should be read together with CH6007, which contains detailed
trade tables.

# Oilseeds Situation and Outlook

## Total Oilseeds

The MY06/07 total oilseed production is forecast at 56.7 MMT from a
planted area of 28.8 million hectares. These figures are 1 percent and
0.7 percent higher respectively over MY05/06. The slightly higher
forecast for MY06/07 is attributable to a relatively large cottonseed
harvest, while production of other oilseeds is forecast to remain
generally stable. Soybean production for MY06/07 is expected to drop
fractionally because of the relatively lower returns received by farmers
in Heilongjiang and Shandong in MY05/06. Rapeseed production for MY06/07
is projected to be similar to the lower than historical average
production of MY05/06 because of lower farm-gate prices received in
MY05/06 and both too much and too little moisture that occurred in the
winter of 2005 in the major producing provinces such as Hubei. Peanut
and sunflower seed production for MY06/07 are expected to be stable
based on average yields and a stable planted area because of the
reasonable returns farmers received for these crops during MY05/06.
Competition for land from other crops, especially cotton and grains, and
urbanization will continue to limit any substantial increase in planted
areas. China's continued "go slow" approach on the commercialization of
biotechnology, together with less than optimal agronomy practices, will
limit yield increases. Except for the final approval of import of
several GMO events for processing, China's biotech policy remained
unchanged in the past year. It is likely that China will continue in the
foreseeable future to position itself as a " GMO free" soybean producer
to meet the food use demands in the domestic market and in overseas
markets such as Japan.

## Soybeans

### Production

Soybean production for MY06/07 is forecast at 18 MMT, slightly below the
estimated 18.3 MMT for MY05/06. The reduction is attributable to the
forecast decreased planted area in Heilongjiang and Shandong provinces
as a result of lower than anticipated prices farmers received for
soybeans since harvest. Various sources stated that the limited benefit
from the elimination of the agriculture tax plus the seed subsidies is
insufficient to offset the reduction of income due to the low price,
relatively lower yield, and increased prices for fertilizer and
chemicals. An industry survey showed that the returns from planting
soybeans in Shandong dropped by 19 percent over the year before, and a
survey by Shandong Provincial Commodity Price Bureau also showed similar
results. Industry sources in Heilongjiang province also reported reduced
returns received by soybean farmers. Therefore, farmers who have the
option may choose to plant more relatively profitable cotton and grain
crops. Any significant area change for soybeans, however, is unlikely
due to limited available land. Also, given the government's very
cautious approach to the application of biotechnology, less than optimal
agronomy practices such as inadequate land rotation, and small
production units, no dramatic increases in yields are expected in the
foreseeable future.

It is worth mentioning that the estimated 18.3 MMT production for
MY05/06 is about 1 MMT higher than the National Statistics Bureau (NBS)
production for MY04/05. Various sources indicated that this is because
of the area-based agricultural tax regime resulted in under reporting of
planted area in Heilongjiang province before 2004. The removal the tax
and the beginning of an area-based subsidy in 2005 resulted in an
additional 600,000 to 1 million hectares of soybean planted area by
Heilongjiang farmers based on different sources. Industry insiders,
however, opined that the area and production increases are unlikely to
affect the market significantly because most of them believe the real
domestic production did not change significantly in the past few years,
despite what the official NSB data shows. Post shares the opinion of the
industry insiders and estimated China's annual soybean production was
about 18 MMT for the past few years.

### Trade

Soybean imports for MY06/07 are forecast at 28.5 MMT, up by 1.7 MMT as
compared to the preliminary estimated 26.8 MMT for MY05/06. Soybean
demand rebounded in MY04/05 from the unpredicted drop that occurred in
MY03/04, when high soybean and freight prices, coupled with the
Brazilian "Red Bean" \* cases, attributed to low imports. The 25.8 MMT
imports for MY05/06, or net increase of 8.8 MMT over MY03/04, reflects
the record high demand. This demand is driven mainly by continuous high
GDP growth (9.9 percent for 2005), with more disposal income for protein
food and vegetable oils. MOA stated that, despite the outbreak of AI and
other epidemic diseases, the strong growth of livestock and poultry
production drove industrialized feed production to 103 MMT for 2005, up
by 7 percent from 2004. Industry sources expect the growth to continue
in the next few years, however, at relatively lower. Post also expects
the import growth curve to level off to a more mature market growth
rate.

The United States remains China's largest soybean supplier with record
sales of 11.9 MMT for MY04/05, accounting for a 46 percent market share.
The good harvest in South America at prices lower than U.S. soybeans in
part slowed down and reduced U.S. exports in MY05/06, and is expected to
put further pressure in the remaining months of MY05/06. In general, the
United States will continue to face strong competition from Brazil and
Argentine in the coming years.

\* Fungicide - treated soybean seeds

  ------------ ------------ -------- ------------ -------- ------------ --------
               Oct 02 --             Oct 03 --             Oct 04 --    
               Sept 03               Sept 04               Sept 05      

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

  United       7,702,997    35.97%   8,287,039    49%      11,873,208   46%
  States                                                                

  Brazil       7,492,534    34.99%   5,082,224    30%      7,100,842    28%

  Argentina    6,207,244    28.98%   3,550,339    21%      6,700,504    26%

  Other        12,969       .06%     13,271       \-       127,372      \-

  Total        21,416,430   100%     16,932,873   100%     25,801,926   100%
  ------------ ------------ -------- ------------ -------- ------------ --------

### Policy

As reported in the 2004 Oilseeds Annual (CH4010), on February 20, 2004,
China's Ministry of Agriculture (MOA) issued final approval of Roundup
Ready (RR) soybeans. Although the shipment-by-shipment certification by
MOA is unnecessarily burdensome, traders did not report trade disruption
related to GMO certificates in the past two years. According to MOA,
traders receive GMO import certificates from MOA in 20 working days
after filing the application. On July 8, 2005, China's MOA issued
approval to the last U.S. GMO corn NK603. Together with the already
approved seven, all the eight GMO corn events were awarded GMO safety
certificates. This removes a potential trade barrier for importation of
soybeans, as China's authority, based on AQSIQ Announcement No. 73,
prohibits adventitious presence of unapproved GMOs in shipment.
(CH5017).

Despite this breakthrough, China's policy makers remain ambivalent about
biotechnology. Although they approved the import of RR soybeans and
corn, farmers still cannot legally plant them. The "GMO-free"
soybean-producing policy remains unchanged and is not likely to be
abandoned in the foreseeable future. Although China is not a major
exporter of soy-based food products, its "GMO-free" policy for domestic
soybeans would ensure that it could still export such products to those
European and Asian markets that restrict the import of biotech-driven
foods.

On January 27, 2006, MOA issued Decree No 59 \"Measures for Approval of
Agricultural GMO Processing License\", which will take effect on July
01, 2006. Currently Post is having the decree translated into English.
The decree requests all agricultural GMO processors to apply for the
\"Processing License\" from the provincial agricultural departments by
submitting some qualification documents. The qualified applicant will be
awarded license within 20 working days and the license remains valid for
three years. A cursory review of the decree shows the basic
qualifications stipulated in the decree can be met or already are being
met by crushers. It is unlikely to be a big problem for them to meet its
requirements. Some larger crushers indicated that none of them have
received formal instructions from the provincial agricultural
departments yet. They will, however, apply for the license as requested.
Post will keep in touch with crushers to determine the potential trade
impact.

Production policy remains generally unchanged. As the GOC puts grain
security as its top priority, soybean production is determined by market
demand. A senior agricultural advisor to the central government
suggested that soybeans be classified as "oilseeds', instead of "Grain".
In an effort to increase income for rural people particularly in the
Northeast provinces, the government pays US\$20 to 25 per hectare as
seed and agricultural machinery subsidies to soybean farmers. This is
likely to continue in the coming years mainly because of the
government's concern about the expanding income gap between the rural
and urban population.

### Marketing

China's soybean market continues to be characterized by two segments --
small to medium crushers in the Northeastern provinces of Heilongjiang
and Jilin that rely primarily on domestic soybeans, and large crushers
in the Southeast that mainly rely on imported soybeans. The marketing of
the MY05/06 domestic crop was delayed for about ten days because of
delayed sowing due to wet weather and was further delayed by the
declining purchasing price, which made farmers hold their goods in
expectation of a higher price. As of this writing, local traders
reported farmers are still selling the 2005 crop. A shortage of rail
cars is impeding the shipment of soybeans to other parts of the country.

China's soybean crushing industry continued to consolidate in 2005.
Industry sources indicate that a new round of mergers and acquisitions
by large multinational or domestic oil and grain investors has started.
As a result of the drastic price fluctuation recorded in 2004, some
small to medium sized crushers continue to face financial difficulties
and some are looking to merge with large players to survive in an
increasingly competitive market. The total crushing capacity continued
to expand beyond 70 MMT per year. This expansion is occurring even
though the utilized capacity is only between 40 to 50 percent. It is
therefore likely that the mergers and acquisitions process will continue
in MY05/06 and beyond.

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

### Stocks

MY06/07 ending stocks are forecast to be 4 MMT, slightly higher than
MY05/06. The ending stocks are likely to increase along with the
increase of total crush consumption.

## Rapeseed

The MY06/07 rapeseed production is forecast at 11.5 MMT, which is
200,000 MT higher than the estimated 11.3 MMT production for MY05/06.
Rapeseed production for MY05/06 dropped by about 1.9 MMT, or 14 percent,
as compared to the record 13.18 MMT for MY04/05, as released by NBS.
Various sources stated that the lower yield attributed to the fall of
production, even though total planted area is estimated higher than that
of MY04/05. The wet and cold weather resulted in delayed sowing, slow
growth, and relatively low yields. Moreover, erratic rainfall in some
regions in May 2005 delayed crop maturation. The projected 11.5 MMT for
MY06/07 production is based on an average yield and a slightly reduced
area. Recent news from the largest producing province -- Hubei - shows
the growth of the crop is rated below average because of the unfavorable
weather in recent months; planted area is expected to decline due to a
lower farm-gate price and returns from the previous crop.

Imports for MY06/07 are forecast at 400,000 MT, higher than the
estimated 300,000 MT for MY05/06. Canada remains the largest supplier.
Imports are expected to increase for MY06/07, provided the international
market price is competitive, and the price ratio between soy and
rapeseed oil in the domestic market has favored rapeseed oil. Exports
are not significant.

## Peanuts

The MY06/07 peanut production forecast is 14.6 MMT, 1 percent less than
MY05/06. Total crush domestic consumption is forecast to reach 7.5 MMT
MY06/07, slightly lower than the estimated 7.2 MMT for MY05/06. The
crush consumption is unlikely to grow significantly in the foreseeable
future because of strong export growth and growing food/snack/peanut
milk consumption. Total production, however, appears to be stable.
MY06/07 exports are forecast to be 1.1 MMT, as compared to the estimated
1.15 MMT for MY05/06. Japan remains the largest destination for China's
peanut products. The market however is relatively stable. Export of
shelled and processed peanuts to Russia grew rapidly to about 85,000 MT
for MY04/05, up by 42 percent over MY03/04. For general background on
China's peanut sector, see FAS/Beijing's, December 2003 "Peanut Sector
Report," (CH3134). In Aug 2002, China published a draft standard that
established maximum levels of aflatoxin B1 in foods, including peanuts.
See CH3022 for details. Post knows of no problem created by this
regulation.

## Sunflower Seeds

Sunflower seeds remain a small component of China's oilseeds complex.
They are forecast to account for 3 percent of MY06/07 total oilseeds
production and 1.3 percent of crush domestic consumption. Approximately
50 percent of the total sunflower seed supply will be consumed as
snacks.

Sunflower seed exports hit a record high of 115,023 MT for CY05, up by
51 percent as compared to CY04. Strong exports are attributable to a
stable and growing production for CY04 and CY05, while domestic crushing
use remained stable mainly because of ample availability of other cheap
vegetable oils.

# 

# Oil Meal Situation and Outlook

The MY06/07 total oilseeds crush is forecast at 64 MMT, and meal
production is forecast at 44.2 MMT (including fish meal). Soybean meal
continues to dominate the oil meal complex, accounting for 63 percent of
total meal production followed by rapeseed meal (16 percent), cottonseed
meal (9 percent) and fish meal (3 percent).

## Soybean Meal 

### Production and Consumption

Projected soybean meal (SBM) production for MY06/07 is 27.8 MMT, up by
3.3 percent from the preliminary estimated 26.9 MMT for MY05/06. The
stable growth of all meats, egg and aquatic production, and high growth
in the dairy sector are expected to continue in MY06/07. The following
table shows China's production of animal products and industrialized
feed from 2002 to 2005. The continued strong growth is driven mainly by
two factors: China's continued strong GDP growth (more than 9 percent
per year) increased disposable income for all consumers in both urban
and rural regions; and, second, a net annual increase of about 7 million
in population.

Production of Animal Products and Industrialized Feed from 2002-2005 (in
million MT)

  --------------- -------- -------- -------- ---------- ----------- --------------
  Year            2002\*   2003\*   2004\*   2005\*\*   Change%     Average Yearly
                                                        05/04       Growth %

  All Meat        65.86    69.3     72.44    76.5       5.6         5.1
  Products                                                          

  Eggs            24.63    26.07    27.24    28.6       5           5.1

  Milk Products   14       18.48    23.68    28.45      20.1        26.7

  Cultured        29.07    30.27    32.09    34         6           5.4
  Aquatic                                                           
  Products                                                          

  Industry Feed   83.19    87.12    96.6     103        6.63        5.5
  --------------- -------- -------- -------- ---------- ----------- --------------

Source: \* China's Animal Husbandry Yearbook; \*\*MOA estimated data

China's per capita expenditures for protein food, including all meats,
poultry, eggs and aquatic products, for 2004 averaged US\$94. The
amount, however, varies among different regions, with the highest up to
US\$170 in Fujian and the lowest of US\$48 in Shanxi. In fact, except in
the larger cities and a few coastal provinces, most regions are below
the national average. In general, the potential demand for protein food
remains huge, especially in the vast rural provinces. This demand will
drive demand for more protein meals, especially SBM. Please see the
following table.

2004 Urban Per Capita Expenditures for Protein Food in Some Provinces
(in US\$)

![](media/image2.wmf)

Source: NSB 2005 China Price and Expenditures for Urban Population
Statistics

Additionally, China's animal husbandry is increasingly modernized in
terms of feeding practices. As people leave the farm for jobs in the
city, they will leave their backyard pigs and chickens to be raised by
commercial operators that will feed them rations high in soybean meal.
This is fueling the strong growth of industrialized feed production. MOA
forecast feed production to reach 150 MMT by 2010, with an annual growth
rate of 8 percent. For more details about China's poultry, swine, dairy
and aquaculture sectors, please see CH5064, CH5010, CH5075 and CH5098.

### Trade

Exports: SMB exports continue to be a residual market factor. Industry
sources indicated that whenever the export price is more profitable than
the domestic price and crushers have extra SBM, they will continue to
export it, but they have no intention of expanding their crush capacity
solely to serve the export market. Actually, SBM exports for MY04/05
were only 633,000 MT, almost unchanged over MY03/04, and are not
expected to change dramatically in MY06/07. Japan accounts for 91
percent of SBM exports, with South Korea and Malaysia in distant second
and third places respectively. Exports are forecast to be 1 to 2 percent
of total production.

Imports: Imports of SBM continue to be insignificant because China has
excessive crushing capacity, so there is no need to import SBM. This
shows no sign of changing in the foreseeable future.

## Fishmeal

Fishmeal consumption continued to increase in 2005 to reach about 1.75
MMT, up by about 200,000 MT as compared to 2004. China's rapidly
expanding livestock sector is driving growth in the feed sector,
including fishmeal. Imports will fill the gap between increased demands
and decreased domestic production, which fell to about 310,000 MT. Total
imports hit a new record of 1.58 MMT in 2005. Increased demand from the
swine sector is driving import demand, because farmers prefer feeding a
high protein ration to piglets to improve growth. Peru remains the
largest supplier, accounting for 68 percent of China's total imports for
2005, followed by Chile (18 percent) and the United States (4 percent).
Imports from the United States dropped to 67,000 MT from the 75,000 MT
for 2004. China's yearly fish meal imports are unlikely to be less than
1 MMT in the coming years due to its huge animal and aquaculture
industries, though price and availability of fish meal may affect
imports.

## Cottonseed Meal

Cottonseed meal production for MY06/07 is forecast to rise to about 3.9
MMT, as compared to the estimated record 3.7 MMT for MY05/06. This is
because the relatively better returns cotton farmers received in MY05/06
may prompt expanded cotton area in some provinces. Cottonseed meal is
widely used as a minor but still valuable protein source in the feed
industry because of its relatively cheap price. As the world's largest
cotton and textile producer, the GOC maintains a policy to encourage a
stable cotton area. This means, except for a big crop like in MY04/05,
cottonseed meal production and its share in the protein meal complex are
expected to be stable in normal years.

# Oil Situation and Outlook

## Total Oils

The total oil production for MY06/07 is forecast at 14.3 MMT, which is
500,000 MT higher than Post's MY05/06 preliminary estimate. Soybean oil
continues to be the number one oil produced in China, accounting for 44
percent of total oil production, followed by rapeseed oil (28 percent),
peanut oil (16 percent), cottonseed oil (9 percent), and sunflower seed
oil (2 percent). Total oil imports for MY06/07 are forecast to increase
to 8 MMT from the estimated 7.6 MMT for MY05/06. The MY06/07 forecast of
total oil supply is 22.4 MMT compared to 21.6 MMT the year earlier.
Demand for oil remains strong.

The MY06/07 total food use domestic consumption of oils is forecast at
20.2 MMT, which is 4 percent more than MY04/05. This amounts to 15.5 kg
per person based on China's projected population of 1.3 billion. This is
35 percent less than Taiwan's 2002 per capita consumption of 23.9 kg of
vegetable oil (See FAS/Taiwan report, TW5001, Table 12- "Oil Imports and
Production". Taiwan's population is 23.6 million.). So, even though
China's oil consumption has grown rapidly in recent years, there still
is significant growth potential before it reaches the level of that in
Taiwan and other similar Asian markets. According to NBS's statistics,
the per capita expenditures for dinning out by urban population averaged
US\$64 in 2004, with the highest of US\$143 for Sahnghai and the lowest
of US35 for Heilongjiang and Tibet. (See table below). Data for the
rural population are not available but Post estimates them at be very
low. With a 9.9 percent GDP growth in 2005, a growing middle class that
has more disposable income and eats more meals outside the home, the
long-term outlook for oil and oilseed imports remains very bright.

2004 Per Capita Expenditures for Dinning Out by Urban People in some
Provinces (in US\$)

![](media/image3.wmf)

Source: NSB 2005 China Price and Expenditures for Urban Population
Statistics

On January 01, 2006, in compliance with its WTO commitments, China
eliminated the TRQ for vegetable oils (soy oil, palm oil and rapeseed
oil), and replaced it with an "automatic import licensing system" for
the purpose of monitoring the imports. As of this writing, Post knows of
no problem created by this administrative system. On October 01, 2004, a
national standard for soybean oil entered into force. The standard
stipulates that the hexane residue level in imported crude soybean oil
to be not more than 100mg/KG. Its impact on soybean oil trade appears to
be insignificant according to industry sources.

The import duties for major oils including crude soybean oil, rapeseed
oil and palm oil are 9 percent, the same as the "in quota duty rate".
See details in Table 31.

The following table shows imports of vegetable oils for MY04/05 dropped
by 360,000 MT as compared to the 6.9 MMT for MY03/04. The share of palm
oil and copra oil, however, increased to about 70 percent from the 50
percent for MY03/04. The share of soybean oil dropped to 26 percent as
compared to the 39 percent for MY03/04. The increases of palm oil in
market share and total import volume are attributed to the price
advantage and the modern blending technology, which makes all marketed
vegetable oils appear similar. The 2005 wholesale prices for major oils
fell with soybean price down by 12 percent and rapeseed oil by 16
percent. See Tables 25, 26 and 27 for detailed price comparison for
soybean oil, rapeseed oil and palm oil for 2005.

+------------+---------+-------+---------+-------+-----------+-------+
| China\'s   |         |       |         |       |           |       |
| Total Oils |         |       |         |       |           |       |
| Import by  |         |       |         |       |           |       |
| Origins    |         |       |         |       |           |       |
| from       |         |       |         |       |           |       |
| MY02/03 to |         |       |         |       |           |       |
| MY04/05    |         |       |         |       |           |       |
+------------+---------+-------+---------+-------+-----------+-------+
| *          | ##      | **    | ##      | **    | **        | **    |
| *Country** | ######  | Share | ######  | Share | MY04/05** | Share |
|            | MY02/03 | %**   | MY03/04 | %**   |           | %**   |
+------------+---------+-------+---------+-------+-----------+-------+
| Malaysia   | 2,      | 45%   | 2,      | 36%   | 3,034,718 | 46%   |
|            | 298,010 |       | 476,142 |       |           |       |
+------------+---------+-------+---------+-------+-----------+-------+
| Argentina  | 1,      | 22%   | 1,      | 26%   | 1,326,129 | 20%   |
|            | 139,968 |       | 826,618 |       |           |       |
+------------+---------+-------+---------+-------+-----------+-------+
| Indonesia  | 787,651 | 16%   | 1,      | 15%   | 1,624,072 | 25%   |
|            |         |       | 076,105 |       |           |       |
+------------+---------+-------+---------+-------+-----------+-------+
| Brazil     | 480,618 | 9%    | 901,633 | 13%   | 400,931   | 6%    |
+------------+---------+-------+---------+-------+-----------+-------+
| Canada     | 22,964  | 0%    | 341,674 | 5%    | 208,785   | 3%    |
+------------+---------+-------+---------+-------+-----------+-------+
| United     | 95,006  | 2%    | 3       | 0%    | 827       | 0%    |
| States     |         |       |         |       |           |       |
+------------+---------+-------+---------+-------+-----------+-------+
| Other      | 255,738 | 5%    | 352,825 | 5%    | 17,878    | 0.3%  |
+------------+---------+-------+---------+-------+-----------+-------+
| Total      | 5,      | 100%  | 6,      | 100%  | 6,613,340 | 100%  |
|            | 080,000 |       | 975,000 |       |           |       |
+------------+---------+-------+---------+-------+-----------+-------+

## 

## Soybean Oil

The MY06/07 soybean oil production forecast is 6.3 MMT, up 3.6 percent
from last year's preliminary estimate. MY06/07 imports are forecast at
2.5 MMT, which is up by 100,000 MT as compared to the estimated 2.4 MMT
for MY05/06. The relatively low imports for MY04/05 are attributed to
high domestic production and record high imports for MY03/04. Soybean
oil imports are forecast to remain strong for MY05/06 and MY06/07
because of growing consumption as a result of high GDP growth and
Chinese consumers' disposable income rise, together with an annual net
population increase of about 7 million. Additionally, the elimination of
the soy oil import TRQ in January 2006 is supposed to facilitate
imports. Argentina continued to be the number one supplier with 77
percent of total imports, followed by Brazil with 23 percent and other
suppliers, including the United States, with very small volume. Brazil's
market share dropped rapidly as compared to MY03/04.

  ------------- ----------- --------- ----------- --------- ----------- ---------
  **Country**   **Oct 02 --           **Oct 03 -            **Oct 04 -  
                Sept 03**             Sept 04**             Sept 05**   

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

  Argentina     1,139,968   66.43%    1,826,618   67%       1,326,169   77%

  Brazil        480,618     28.01%    901,663     33%       400,931     23%

  United States 95,006      5.54%     3           \- %      800         \- %

  Other         485         0.03%     375         \- %      305         \- %

  Total         1,716,076   100%      2,728,659   100%      1,728,205   100%
  ------------- ----------- --------- ----------- --------- ----------- ---------

As indicated in Table 26, the wholesale prices for soybean oil and
rapeseed oil were very close in the second half of 2005. This in part
reflects more consumers in the traditionally rapeseed dominated regions
opted for blended oils, which most refineries produce.

## Rapeseed Oil

The MY06/07 rapeseed oil production forecast is 4 MMT, slightly higher
than the estimated 3.9 MMT for MY05/06. Imports are forecast to increase
to 400,000 MT from 350,000 MT in MY05/06. Industry sources explained
relatively low imports are attributed to the high price in the global
market. Exports are minimal and not expected to change in MY06/07. The
price of rapeseed oil decreased 16 percent Jan-Dec 2005 and remained
similar or lower than soybean oil in second half of 2005. Consumers'
choice between rapeseed and soybean oil is based on price more than any
taste preference. See Tables 24, 25, and 26 for details.

## Palm and Other Oils

Palm oil imports are forecast to increase to 4.9 MMT in MY06/07 from the
estimated 4.75 MMT in MY05/06. Malaysia dominated China's MY03/04 palm
oil imports. It provided 69 percent of total imports for MY04/05.
Indonesia was a distant second with 31 percent. See Trade Table 30 of
CH6007 for details.

Demand for palm oil is very strong primarily because it remains cheaper
than soybean oil. In 2005, the soybean oil price was 13 to 29 percent
higher than palm oil. See Table 26. Some processors reportedly are
blending palm oil with other vegetable oils and selling it as cooking
oil. Industry sources estimated this use ranged from 2.5 to 3 MMT in
2005. Another factor contributing to the strong demand continues to be
increased demand for processed foods, especially instant noodles, which
use large amounts of palm oil. In China, packaged ready-to-eat instant
noodles, which only require adding hot water, are popular with
travelers, casual workers, and some office workers. With more and more
people traveling and eating outside of the home, demand for instant
noodles has risen sharply in recent years and is expected to continue
rising in the near future.

This strong palm oil demand will be supplied by imports. China's past
attempts to produce palm oil have failed because the climate and soil
conditions are not correct for growing oil palm trees. Furthermore,
China's close proximity to Malaysia and other major palm oil producers
ensures adequate supplies and gives palm oil the advantage of cheaper
shipping costs relative to other oils, especially soybean oil from
Argentina and Brazil. The elimination of TRQ on January 01, 2006 is
expected to facilitate palm oil imports.

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

No major changes are forecast for coconut oil. Imports fro MY06/07 are
forecast at 160,000 MT, slightly higher than the estimated 150,000 MT
for MY05/06. The major suppliers are Indonesia and Malaysia.

# Statistics Tables

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

### Table 1. Total Oilseeds

  --------------------- ------------ ----------- ----------- ----------- ---------- -----------
  PSD Table                                                                         

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

  **Commodity**         **Total                                                     
                        Oilseeds**                                                  

                        2004         Revised     2005        Revised     2006       Revised

                        USDA         Post        USDA        Post        USDA       Post
                        Official     Estimate    Official    Estimate    Official   Estimate
                        (Old)        (New)       (Old)       (New)       (Old)      (New)

  **Market Year Begin**              10/2004                 10/2005                10/2006

  Area Planted          16450        29324       5400        28800       0          28850

  Area Harvested        28232        28230       27900       28600       0          28850

  Beginning Stocks      2100         1939        4700        3339        4100       3589

  Production            57974        57976       54070       56200       0          56650

  MY Imports            26121        26121       28705       27104       0          28903

  MY Imp. from U.S.     0            11873       0           10002       0          10500

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

  **TOTAL SUPPLY**      **86195**    **86036**   **87475**   **86643**   **4100**   **89142**

  MY Exports            1537         1597        1393        1669        0          1615

  MY Exp. to the EC     0            258         0           290         0          310

  Crush Dom.            59737        62048       62409       61639       0          64033
  Consumption                                                                       

  Food Use Dom.         14129        14200       14230       14795       0          14870
  Consump.                                                                          

  Feed,Seed,Waste       6092         4852        5343        4951        0          4985
  Dm.Cn.                                                                            

  TOTAL Dom.            79958        81100       81982       81385       0          83888
  Consumption                                                                       

  Ending Stocks         4700         3339        4100        3589        0          3639

  **TOTAL               **86195**    **86036**   **87475**   **86643**   **0**      **89142**
  DISTRIBUTION**                                                                    

  Calendar Year Imports 0            20605       0           26893       0          27903

  Calendar Yr Imp. U.S. 0            10198       0           11050       0          11002

  Calendar Year Exports 0            1465        0           1466        0          1500

  Calndr Yr Exp. to     0            27          0           42          0          50
  U.S.                                                                              
  --------------------- ------------ ----------- ----------- ----------- ---------- -----------

### Table 2. Total Meals

+--------------------+------+------+--------+--------+-------+--------+
| #                  |      |      |        |        |       |        |
| ######## PSD Table |      |      |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| **Country**        | **Ch |      |        |        |       |        |
|                    | ina, |      |        |        |       |        |
|                    | Peo  |      |        |        |       |        |
|                    | ples |      |        |        |       |        |
|                    | Repu |      |        |        |       |        |
|                    | blic |      |        |        |       |        |
|                    | of** |      |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| **Commodity**      | **T  |      |        |        |       |        |
|                    | otal |      |        |        |       |        |
|                    | Me   |      |        |        |       |        |
|                    | al** |      |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
|                    | 2004 | Rev  | 2005   | R      | 2006  | R      |
|                    |      | ised |        | evised |       | evised |
+--------------------+------+------+--------+--------+-------+--------+
|                    | USDA | Post | USDA   | Post   | USDA  | Post   |
|                    | Offi | Esti | Of     | Es     | Off   | Es     |
|                    | cial | mate | ficial | timate | icial | timate |
|                    | (    | (    | (Old)  | (New)  | (Old) | (New)  |
|                    | Old) | New) |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| **Market Year      |      | 10/  |        | 1      |       | 1      |
| Begin**            |      | 2004 |        | 0/2005 |       | 0/2006 |
+--------------------+------+------+--------+--------+-------+--------+
| Crush              | 5    | 6    | 63187  | 61639  | 0     | 64033  |
|                    | 9737 | 2048 |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| Extr. Rate,        |      |      |        |        |       |        |
| 999.9999           |      |      |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| Beginning Stocks   | 0    | 0    | 0      | 0      | 0     | 0      |
+--------------------+------+------+--------+--------+-------+--------+
| Production         | 3    | 4    | 42422  | 40939  | 0     | 42461  |
|                    | 9207 | 0523 |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| MY Imports         | 1797 | 1796 | 1948   | 1621   | 0     | 1721   |
+--------------------+------+------+--------+--------+-------+--------+
| MY Imp. from U.S.  | 0    | 75   | 0      | 80     | 0     | 85     |
+--------------------+------+------+--------+--------+-------+--------+
| MY Imp. from the   | 0    | 0    | 0      | 0      | 0     | 0      |
| EC                 |      |      |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| **TOTAL SUPPLY**   | *    | *    | **4    | **4    | **0** | **4    |
|                    | *410 | *423 | 4370** | 2560** |       | 4182** |
|                    | 04** | 19** |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| MY Exports         | 821  | 840  | 912    | 757    | 0     | 666    |
+--------------------+------+------+--------+--------+-------+--------+
| MY Exp. to the EC  | 0    | 0    | 0      | 0      | 0     | 0      |
+--------------------+------+------+--------+--------+-------+--------+
| Industrial Dom.    | 1240 | 1280 | 1174   | 1311   | 0     | 1330   |
| Consum             |      |      |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| Food Use Dom.      | 0    | 0    | 0      | 0      | 0     | 0      |
| Consump.           |      |      |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| Feed Waste Dom.    | 3    | 4    | 42284  | 40492  | 0     | 42186  |
| Consum             | 8943 | 0199 |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| TOTAL Dom.         | 4    | 4    | 43458  | 41803  | 0     | 43516  |
| Consumption        | 0183 | 1479 |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| Ending Stocks      | 0    | 0    | 0      | 0      | 0     | 0      |
+--------------------+------+------+--------+--------+-------+--------+
| TOTAL DISTRIBUTION | 4    | 4    | 44370  | 42560  | 0     | 44182  |
|                    | 1004 | 2319 |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| Calendar Year      | 0    | 1805 | 94     | 1340   | 0     | 1450   |
| Imports            |      |      |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| Calendar Yr Imp.   | 0    | 75   | 0      | 80     | 0     | 85     |
| U.S.               |      |      |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| Calendar Year      | 0    | 788  | 125    | 785    | 0     | 655    |
| Exports            |      |      |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+
| Calndr Yr Exp. to  | 0    | 0    | 0      | 0      | 0     | 0      |
| U.S.               |      |      |        |        |       |        |
+--------------------+------+------+--------+--------+-------+--------+

### Table 3. Total Oils

+--------------------+-----+--------+---------+-------+-------+-------+
| #                  |     |        |         |       |       |       |
| ######## PSD Table |     |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| **Country**        | **  |        |         |       |       |       |
|                    | Chi |        |         |       |       |       |
|                    | na, |        |         |       |       |       |
|                    | P   |        |         |       |       |       |
|                    | eop |        |         |       |       |       |
|                    | les |        |         |       |       |       |
|                    | Re  |        |         |       |       |       |
|                    | pub |        |         |       |       |       |
|                    | lic |        |         |       |       |       |
|                    | o   |        |         |       |       |       |
|                    | f** |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| **Commodity**      | *   |        |         |       |       |       |
|                    | *To |        |         |       |       |       |
|                    | tal |        |         |       |       |       |
|                    | Oil |        |         |       |       |       |
|                    | s** |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
|                    | 2   | R      | 2005    | Re    | 2006  | Re    |
|                    | 004 | evised |         | vised |       | vised |
+--------------------+-----+--------+---------+-------+-------+-------+
|                    | U   | Post   | USDA    | Post  | USDA  | Post  |
|                    | SDA | Es     | O       | Est   | Off   | Est   |
|                    | Of  | timate | fficial | imate | icial | imate |
|                    | fic | (New)  | (Old)   | (New) | (Old) | (New) |
|                    | ial |        |         |       |       |       |
|                    | (O  |        |         |       |       |       |
|                    | ld) |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| **Market Year      |     | 1      |         | 10    |       | 10    |
| Begin**            |     | 0/2004 |         | /2005 |       | /2006 |
+--------------------+-----+--------+---------+-------+-------+-------+
| Crush              | 59  | 62048  | 62409   | 61639 | 0     | 64033 |
|                    | 737 |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| Extr. Rate,        |     |        |         |       |       |       |
| 999.9999           |     |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| Beginning Stocks   | 341 | 320    | 247     | 220   | 230   | 200   |
+--------------------+-----+--------+---------+-------+-------+-------+
| Production         | 13  | 14094  | 14201   | 13776 | 0     | 14262 |
|                    | 705 |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| MY Imports         | 6   | 6390   | 7390    | 7656  | 0     | 7967  |
|                    | 444 |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| MY Imp. from U.S.  | 0   | 1      | 0       | 5     | 0     | 10    |
+--------------------+-----+--------+---------+-------+-------+-------+
| MY Imp. from the   | 0   | 0      | 0       | 0     | 0     | 0     |
| EC                 |     |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| **TOTAL SUPPLY**   | **2 | **2    | **      | **21  | **    | **22  |
|                    | 049 | 0804** | 21838** | 652** | 230** | 429** |
|                    | 0** |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| MY Exports         | 69  | 69     | 120     | 150   | 0     | 120   |
+--------------------+-----+--------+---------+-------+-------+-------+
| MY Exp. to the EC  | 0   | 0      | 0       | 0     | 0     | 0     |
+--------------------+-----+--------+---------+-------+-------+-------+
| Industrial Dom.    | 1   | 1600   | 1900    | 1820  | 0     | 1870  |
| Consum             | 644 |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| Food Use Dom.      | 18  | 18915  | 19588   | 19482 | 0     | 20209 |
| Consump.           | 530 |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| Feed Waste Dom.    | 0   | 0      | 0       | 0     | 0     | 0     |
| Consum             |     |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| TOTAL Dom.         | 20  | 20515  | 21488   | 21302 | 0     | 22079 |
| Consumption        | 174 |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| Ending Stocks      | 247 | 220    | 230     | 200   | 0     | 230   |
+--------------------+-----+--------+---------+-------+-------+-------+
| **TOTAL            | **2 | **2    | **      | **21  | **0** | **22  |
| DISTRIBUTION**     | 049 | 0804** | 21838** | 652** |       | 429** |
|                    | 0** |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| Calendar Year      | 0   | 6503   | 0       | 6515  | 0     | 7350  |
| Imports            |     |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| Calendar Yr Imp.   | 0   | 1      | 0       | 5     | 0     | 10    |
| U.S.               |     |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| Calendar Year      | 0   | 39     | 0       | 93    | 0     | 75    |
| Exports            |     |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+
| Calndr Yr Exp. to  | 0   | 0      | 0       | 0     | 0     | 0     |
| U.S.               |     |        |         |       |       |       |
+--------------------+-----+--------+---------+-------+-------+-------+

## Oilseeds PSD Tables

### Table 4. Soybeans

+--------------------+-----+-------+-------+-------+-------+---------+
| **PSD Table**      |     |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| **Country**        | **  |       |       |       |       |         |
|                    | Chi |       |       |       |       |         |
|                    | na, |       |       |       |       |         |
|                    | P   |       |       |       |       |         |
|                    | eop |       |       |       |       |         |
|                    | les |       |       |       |       |         |
|                    | Re  |       |       |       |       |         |
|                    | pub |       |       |       |       |         |
|                    | lic |       |       |       |       |         |
|                    | o   |       |       |       |       |         |
|                    | f** |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| **Commodity**      | *   |       |       |       | (1000 |         |
|                    | *Oi |       |       |       | HA)   |         |
|                    | lse |       |       |       | (1000 |         |
|                    | ed, |       |       |       | MT)   |         |
|                    | S   |       |       |       |       |         |
|                    | oyb |       |       |       |       |         |
|                    | ean |       |       |       |       |         |
|                    | s** |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
|                    | 2   | Re    | 2005  | Est   | 2006  | F       |
|                    | 004 | vised |       | imate |       | orecast |
+--------------------+-----+-------+-------+-------+-------+---------+
|                    | U   | Post  | USDA  | Post  | USDA  | Post    |
|                    | SDA | Est   | Off   | Est   | Off   | E       |
|                    | Of  | imate | icial | imate | icial | stimate |
|                    | fic | \[    | \[    | \[    | \[    | \[New\] |
|                    | ial | New\] | Old\] | New\] | Old\] |         |
|                    | \   |       |       |       |       |         |
|                    | [Ol |       |       |       |       |         |
|                    | d\] |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| #######            |     | 10    |       | 10    |       | 10/2006 |
|  Market Year Begin |     | /2004 |       | /2005 |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| Area Planted       | 9   | 9589  | 0     | 10000 | 0     | 9900    |
|                    | 800 |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| Area Harvested     | 9   | 9589  | 9600  | 10000 | 0     | 9900    |
|                    | 590 |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| Beginning Stocks   | 2   | 1939  | 4700  | 3339  | 4100  | 3589    |
|                    | 100 |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| Production         | 17  | 17400 | 17000 | 18300 | 0     | 18000   |
|                    | 400 |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| MY Imports         | 25  | 25802 | 27500 | 26800 | 0     | 28500   |
|                    | 802 |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| MY Imp. from U.S.  | 0   | 11873 | 0     | 10000 | 0     | 10500   |
+--------------------+-----+-------+-------+-------+-------+---------+
| MY Imp. from the   | 0   | 0     | 0     | 0     | 0     | 0       |
| EC                 |     |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| **TOTAL SUPPLY**   | **4 | **45  | **49  | **48  | **4   | **      |
|                    | 530 | 141** | 200** | 439** | 100** | 50089** |
|                    | 2** |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| MY Exports         | 390 | 390   | 370   | 400   | 0     | 400     |
+--------------------+-----+-------+-------+-------+-------+---------+
| MY Exp. to the EC  | 0   | 8     | 0     | 0     | 0     | 0       |
+--------------------+-----+-------+-------+-------+-------+---------+
| Crush Dom.         | 30  | 31312 | 34510 | 34000 | 0     | 35200   |
| Consumption        | 362 |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| Food Use Dom.      | 8   | 8250  | 8500  | 8600  | 0     | 9000    |
| Consump.           | 000 |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| Feed,Seed,Waste    | 1   | 1850  | 1720  | 1850  | 0     | 1850    |
| Dm.Cn.             | 850 |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| TOTAL Dom.         | 40  | 41412 | 44730 | 44450 | 0     | 46050   |
| Consumption        | 212 |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| Ending Stocks      | 4   | 3339  | 4100  | 3589  | 0     | 3639    |
|                    | 700 |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| **TOTAL            | **4 | **45  | **49  | **48  | **0** | **      |
| DISTRIBUTION**     | 530 | 141** | 200** | 439** |       | 50089** |
|                    | 2** |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| Calendar Year      | 0   | 20178 | 0     | 26590 | 0     | 27500   |
| Imports            |     |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| Calendar Yr Imp.   | 0   | 10197 | 0     | 11048 | 0     | 11000   |
| U.S.               |     |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| Calendar Year      | 0   | 334   | 0     | 396   | 0     | 400     |
| Exports            |     |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+
| Calndr Yr Exp. to  | 0   | 27    | 0     | 42    | 0     | 50      |
| U.S.               |     |       |       |       |       |         |
+--------------------+-----+-------+-------+-------+-------+---------+

### Table 5. Rapeseed

+--------------------+-----+------+------+---------+-------+---------+
| **PSD Table**      |     |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| **Country**        | **  |      |      |         |       |         |
|                    | Chi |      |      |         |       |         |
|                    | na, |      |      |         |       |         |
|                    | P   |      |      |         |       |         |
|                    | eop |      |      |         |       |         |
|                    | les |      |      |         |       |         |
|                    | Re  |      |      |         |       |         |
|                    | pub |      |      |         |       |         |
|                    | lic |      |      |         |       |         |
|                    | o   |      |      |         |       |         |
|                    | f** |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| **Commodity**      | *   |      |      |         | (1000 |         |
|                    | *Oi |      |      |         | HA)   |         |
|                    | lse |      |      |         | (1000 |         |
|                    | ed, |      |      |         | MT)   |         |
|                    | R   |      |      |         |       |         |
|                    | ape |      |      |         |       |         |
|                    | see |      |      |         |       |         |
|                    | d** |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
|                    | 2   | Rev  | 2005 | E       | 2006  | F       |
|                    | 004 | ised |      | stimate |       | orecast |
+--------------------+-----+------+------+---------+-------+---------+
|                    | U   | Post | USDA | Post    | USDA  | Post    |
|                    | SDA | Esti | Offi | E       | Off   | E       |
|                    | Of  | mate | cial | stimate | icial | stimate |
|                    | fic |      | \[O  |         | \[    |         |
|                    | ial | \[N  | ld\] | \[New\] | Old\] | \[New\] |
|                    | \   | ew\] |      |         |       |         |
|                    | [Ol |      |      |         |       |         |
|                    | d\] |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| #######            |     | 10/  |      | 10/2005 |       | 10/2006 |
|  Market Year Begin |     | 2004 |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| Area Planted       | 0   | 8200 | 0    | 7500    | 0     | 7450    |
+--------------------+-----+------+------+---------+-------+---------+
| Area Harvested     | 7   | 7271 | 7300 | 7500    | 0     | 7450    |
|                    | 272 |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| Beginning Stocks   | 0   | 0    | 0    | 0       | 0     | 0       |
+--------------------+-----+------+------+---------+-------+---------+
| Production         | 13  | 1    | 1    | 11300   | 0     | 11500   |
|                    | 182 | 3182 | 1400 |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| MY Imports         | 316 | 316  | 1200 | 300     | 0     | 400     |
+--------------------+-----+------+------+---------+-------+---------+
| MY Imp. from U.S.  | 0   | 0    | 0    | 0       | 0     | 0       |
+--------------------+-----+------+------+---------+-------+---------+
| MY Imp. from the   | 0   | 0    | 0    | 0       | 0     | 0       |
| EC                 |     |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| **TOTAL SUPPLY**   | **1 | *    | *    | **      | **0** | **      |
|                    | 349 | *134 | *126 | 11600** |       | 11900** |
|                    | 8** | 98** | 00** |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| MY Exports         | 0   | 0    | 0    | 5       | 0     | 0       |
+--------------------+-----+------+------+---------+-------+---------+
| MY Exp. to the EC  | 0   | 0    | 0    | 0       | 0     | 0       |
+--------------------+-----+------+------+---------+-------+---------+
| Crush Dom.         | 12  | 1    | 1    | 10935   | 0     | 11240   |
| Consumption        | 848 | 2828 | 2050 |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| Food Use Dom.      | 0   | 0    | 0    | 0       | 0     | 0       |
| Consump.           |     |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| Feed,Seed,Waste    | 650 | 670  | 550  | 660     | 0     | 660     |
| Dm.Cn.             |     |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| TOTAL Dom.         | 13  | 1    | 1    | 11595   | 0     | 11900   |
| Consumption        | 498 | 3498 | 2600 |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| Ending Stocks      | 0   | 0    | 0    | 0       | 0     | 0       |
+--------------------+-----+------+------+---------+-------+---------+
| **TOTAL            | **1 | *    | *    | **      | **0** | **      |
| DISTRIBUTION**     | 349 | *134 | *126 | 11600** |       | 11900** |
|                    | 8** | 98** | 00** |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| Calendar Year      | 0   | 424  | 0    | 298     | 0     | 400     |
| Imports            |     |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| Calendar Yr Imp.   | 0   | 0    | 0    | 0       | 0     | 0       |
| U.S.               |     |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| Calendar Year      | 0   | 5    | 0    | 0       | 0     | 0       |
| Exports            |     |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+
| Calndr Yr Exp. to  | 0   | 0    | 0    | 0       | 0     | 0       |
| U.S.               |     |      |      |         |       |         |
+--------------------+-----+------+------+---------+-------+---------+

### Table 6. Peanuts

+--------------------+------+-------+-------+-------+-------+-------+
| **PSD Table**      |      |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| **Country**        | **Ch |       |       |       |       |       |
|                    | ina, |       |       |       |       |       |
|                    | Peo  |       |       |       |       |       |
|                    | ples |       |       |       |       |       |
|                    | Repu |       |       |       |       |       |
|                    | blic |       |       |       |       |       |
|                    | of** |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| **Commodity**      | **   |       |       |       | (1000 |       |
|                    | Oils |       |       |       | HA)   |       |
|                    | eed, |       |       |       | (1000 |       |
|                    | Pean |       |       |       | MT)   |       |
|                    | ut** |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
|                    | 2004 | Re    | 2005  | Est   | 2006  | For   |
|                    |      | vised |       | imate |       | ecast |
+--------------------+------+-------+-------+-------+-------+-------+
|                    | USDA | Post  | USDA  | Post  | USDA  | Post  |
|                    | Offi | Est   | Off   | Est   | Off   | Est   |
|                    | cial | imate | icial | imate | icial | imate |
|                    | \[O  |       | \[    |       | \[    |       |
|                    | ld\] | \[    | Old\] | \[    | Old\] | \[    |
|                    |      | New\] |       | New\] |       | New\] |
+--------------------+------+-------+-------+-------+-------+-------+
| #######            |      | 10    |       | 10    |       | 10    |
|  Market Year Begin |      | /2004 |       | /2005 |       | /2006 |
+--------------------+------+-------+-------+-------+-------+-------+
| Area Planted       | 5400 | 4745  | 5400  | 5000  | 0     | 5000  |
+--------------------+------+-------+-------+-------+-------+-------+
| Area Harvested     | 4745 | 4745  | 4900  | 5000  | 0     | 5000  |
+--------------------+------+-------+-------+-------+-------+-------+
| Beginning Stocks   | 0    | 0     | 0     | 0     | 0     | 0     |
+--------------------+------+-------+-------+-------+-------+-------+
| Production         | 1    | 14342 | 13800 | 14700 | 0     | 14600 |
|                    | 4340 |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| MY Imports         | 2    | 2     | 2     | 1     | 0     | 1     |
+--------------------+------+-------+-------+-------+-------+-------+
| My Imp. from U.S.  | 0    | 0     | 0     | 0     | 0     | 0     |
+--------------------+------+-------+-------+-------+-------+-------+
| MY Imp. from the   | 0    | 0     | 0     | 0     | 0     | 0     |
| EC                 |      |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| **TOTAL SUPPLY**   | *    | **14  | **13  | **14  | **0** | **14  |
|                    | *143 | 344** | 802** | 701** |       | 601** |
|                    | 42** |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| MY Exports         | 1020 | 1080  | 950   | 1150  | 0     | 1100  |
+--------------------+------+-------+-------+-------+-------+-------+
| MY Exp. to the EC  | 0    | 210   | 0     | 250   | 0     | 260   |
+--------------------+------+-------+-------+-------+-------+-------+
| Crush Dom.         | 7002 | 7164  | 6992  | 7200  | 0     | 7511  |
| Consumption        |      |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| Food Use Dom.      | 5480 | 5300  | 5030  | 5501  | 0     | 5150  |
| Consump.           |      |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| Feed,Seed,Waste    | 840  | 800   | 830   | 850   | 0     | 840   |
| Dm.Cn.             |      |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| TOTAL Dom.         | 1    | 13264 | 12852 | 13551 | 0     | 13501 |
| Consumption        | 3322 |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| Ending Stocks      | 0    | 0     | 0     | 0     | 0     | 0     |
+--------------------+------+-------+-------+-------+-------+-------+
| **TOTAL            | *    | **14  | **13  | **14  | **0** | **14  |
| DISTRIBUTION**     | *143 | 344** | 802** | 701** |       | 601** |
|                    | 42** |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| Calendar Year      | 0    | 1     | 0     | 1     | 0     | 1     |
| Imports            |      |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| Calendar Yr Imp.   | 0    | 0     | 0     | 0     | 0     | 0     |
| U.S.               |      |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| Calendar Year      | 0    | 1050  | 0     | 1000  | 0     | 1000  |
| Exports            |      |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+
| Calndr Yr Exp. to  | 0    | 0     | 0     | 0     | 0     | 0     |
| U.S.               |      |       |       |       |       |       |
+--------------------+------+-------+-------+-------+-------+-------+

### Table 7. Sunflower Seed

+---------------------+-----+-----------+------+------+------+------+
| **PSD Table**       |     |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| **Country**         | **  |           |      |      |      |      |
|                     | Chi |           |      |      |      |      |
|                     | na, |           |      |      |      |      |
|                     | P   |           |      |      |      |      |
|                     | eop |           |      |      |      |      |
|                     | les |           |      |      |      |      |
|                     | Re  |           |      |      |      |      |
|                     | pub |           |      |      |      |      |
|                     | lic |           |      |      |      |      |
|                     | o   |           |      |      |      |      |
|                     | f** |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| **Commodity**       | *   |           |      |      | (    |      |
|                     | *Oi |           |      |      | 1000 |      |
|                     | lse |           |      |      | HA)( |      |
|                     | ed, |           |      |      | 1000 |      |
|                     | Sun |           |      |      | MT)  |      |
|                     | flo |           |      |      |      |      |
|                     | wer |           |      |      |      |      |
|                     | See |           |      |      |      |      |
|                     | d** |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
|                     | 2   | Revised   | 2005 | Esti | 2006 | Fore |
|                     | 004 |           |      | mate |      | cast |
+---------------------+-----+-----------+------+------+------+------+
|                     | U   | Post      | USDA | Post | USDA | Post |
|                     | SDA | Estimate  | Offi | Esti | Offi | Esti |
|                     | Of  |           | cial | mate | cial | mate |
|                     | fic | \[New\]   | \[O  |      | \[O  |      |
|                     | ial |           | ld\] | \[N  | ld\] | \[N  |
|                     | \   |           |      | ew\] |      | ew\] |
|                     | [Ol |           |      |      |      |      |
|                     | d\] |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| ######              |     | 10/2004   |      | 10/  |      | 10/  |
| # Market Year Begin |     |           |      | 2005 |      | 2006 |
+---------------------+-----+-----------+------+------+------+------+
| Area Planted        | 1   | 1100      | 0    | 1100 | 0    | 1100 |
|                     | 250 |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| Area Harvested      | 935 | 935       | 1000 | 1000 | 0    | 1100 |
+---------------------+-----+-----------+------+------+------+------+
| Beginning Stocks    | 0   | 0         | 0    | 0    | 0    | 0    |
+---------------------+-----+-----------+------+------+------+------+
| Production          | 1   | 1552      | 1600 | 1700 | 0    | 1750 |
|                     | 552 |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| MY Imports          | 1   | 1         | 3    | 3    | 0    | 2    |
+---------------------+-----+-----------+------+------+------+------+
| MY Imp. from U.S.   | 0   | 0         | 0    | 2    | 0    | 0    |
+---------------------+-----+-----------+------+------+------+------+
| MY Imp. from the EC | 0   | 0         | 0    | 0    | 0    | 0    |
+---------------------+-----+-----------+------+------+------+------+
| **TOTAL SUPPLY**    | **  | **1553**  | **16 | **17 | *    | **17 |
|                     | 155 |           | 03** | 03** | *0** | 52** |
|                     | 3** |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| MY Exports          | 114 | 114       | 70   | 110  | 0    | 110  |
+---------------------+-----+-----------+------+------+------+------+
| MY Exp. to the EC   | 0   | 40        | 0    | 40   | 0    | 50   |
+---------------------+-----+-----------+------+------+------+------+
| Crush Dom.          | 710 | 694       | 750  | 804  | 0    | 832  |
| Consumption         |     |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| Food Use Dom.       | 649 | 650       | 700  | 694  | 0    | 720  |
| Consump.            |     |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| Feed,Seed,Waste     | 80  | 95        | 83   | 95   | 0    | 90   |
| Dm.Cn.              |     |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| TOTAL Dom.          | 1   | 1439      | 1533 | 1593 | 0    | 1642 |
| Consumption         | 439 |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| Ending Stocks       | 0   | 0         | 0    | 0    | 0    | 0    |
+---------------------+-----+-----------+------+------+------+------+
| **TOTAL             | **  | **1553**  | **16 | **17 | *    | **17 |
| DISTRIBUTION**      | 155 |           | 03** | 03** | *0** | 52** |
|                     | 3** |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| Calendar Year       | 0   | 2         | 0    | 4    | 0    | 2    |
| Imports             |     |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| Calendar Yr Imp.    | 0   | 1         | 0    | 2    | 0    | 2    |
| U.S.                |     |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| Calendar Year       | 0   | 76        | 0    | 70   | 0    | 100  |
| Exports             |     |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+
| Calndr Yr Exp. to   | 0   | 0         | 0    | 0    | 0    | 0    |
| U.S.                |     |           |      |      |      |      |
+---------------------+-----+-----------+------+------+------+------+

### Table 8. Cotton Seeds

+---------------------+-----+-------+-------+----------+------+------+
| **PSD Table**       |     |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
| **Country**         | **  |       |       |          |      |      |
|                     | Chi |       |       |          |      |      |
|                     | na, |       |       |          |      |      |
|                     | P   |       |       |          |      |      |
|                     | eop |       |       |          |      |      |
|                     | les |       |       |          |      |      |
|                     | Re  |       |       |          |      |      |
|                     | pub |       |       |          |      |      |
|                     | lic |       |       |          |      |      |
|                     | o   |       |       |          |      |      |
|                     | f** |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
| **Commodity**       | *   |       |       |          | (    |      |
|                     | *Oi |       |       |          | 1000 |      |
|                     | lse |       |       |          | HA)( |      |
|                     | ed, |       |       |          | 1000 |      |
|                     | Cot |       |       |          | MT   |      |
|                     | ton |       |       |          | )(RA |      |
|                     | see |       |       |          | TIO) |      |
|                     | d** |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
|                     | 2   | Re    | 2005  | Estimate | 2006 | Fore |
|                     | 004 | vised |       |          |      | cast |
+---------------------+-----+-------+-------+----------+------+------+
|                     | U   | Post  | USDA  | Post     | USDA | Post |
|                     | SDA | Est   | Off   | Estimate | Offi | Esti |
|                     | Of  | imate | icial | \[New\]  | cial | mate |
|                     | fic | \[    | \[    |          | \[O  | \[N  |
|                     | ial | New\] | Old\] |          | ld\] | ew\] |
|                     | \   |       |       |          |      |      |
|                     | [Ol |       |       |          |      |      |
|                     | d\] |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
| ######              |     | 10    |       | 10/2005  |      | 10/  |
| # Market Year Begin |     | /2004 |       |          |      | 2006 |
+---------------------+-----+-------+-------+----------+------+------+
| Area Planted        | 0   | 5690  | 0     | 5200     | 0    | 5400 |
| (COTTON)            |     |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
| Area                | 5   | 5690  | 5100  | 5100     | 0    | 5400 |
| Harvested(COTTON)   | 690 |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
| Seed to Lint Ratio  | 0   | 0     | 0     | 0        | 0    | 0    |
+---------------------+-----+-------+-------+----------+------+------+
| Beginning Stocks    | 0   | 0     | 0     | 0        | 0    | 0    |
+---------------------+-----+-------+-------+----------+------+------+
| Production          | 11  | 11500 | 10270 | 10200    | 0    | 1    |
|                     | 500 |       |       |          |      | 0800 |
+---------------------+-----+-------+-------+----------+------+------+
| MY Imports          | 0   | 0     | 0     | 0        | 0    | 0    |
+---------------------+-----+-------+-------+----------+------+------+
| MY Imp. from U.S.   | 0   | 0     | 0     | 0        | 0    | 0    |
+---------------------+-----+-------+-------+----------+------+------+
| MY Imp. from the EC | 0   | 0     | 0     | 0        | 0    | 0    |
+---------------------+-----+-------+-------+----------+------+------+
| **TOTAL SUPPLY**    | **1 | **11  | **10  | *        | *    | *    |
|                     | 150 | 500** | 270** | *10200** | *0** | *108 |
|                     | 0** |       |       |          |      | 00** |
+---------------------+-----+-------+-------+----------+------+------+
| MY Exports          | 13  | 13    | 3     | 4        | 0    | 5    |
+---------------------+-----+-------+-------+----------+------+------+
| MY Exp. to the EC   | 0   | 0     | 0     | 0        | 0    | 0    |
+---------------------+-----+-------+-------+----------+------+------+
| Crush Dom.          | 8   | 10050 | 8107  | 8700     | 0    | 9250 |
| Consumption         | 815 |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
| Food Use Dom.       | 0   | 0     | 0     | 0        | 0    | 0    |
| Consump.            |     |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
| Feed,Seed,Waste     | 2   | 1437  | 2160  | 1496     | 0    | 1545 |
| Dm.Cm.              | 672 |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
| TOTAL Dom.          | 11  | 11487 | 10267 | 10196    | 0    | 1    |
| Consumption         | 487 |       |       |          |      | 0795 |
+---------------------+-----+-------+-------+----------+------+------+
| Ending Stocks       | 0   | 0     | 0     | 0        | 0    | 0    |
+---------------------+-----+-------+-------+----------+------+------+
| **TOTAL             | **1 | **11  | **10  | *        | *    | *    |
| DISTRIBUTION**      | 150 | 500** | 270** | *10200** | *0** | *108 |
|                     | 0** |       |       |          |      | 00** |
+---------------------+-----+-------+-------+----------+------+------+
| Calendar Year       | 0   | 0     | 0     | 0        | 0    | 0    |
| Imports             |     |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
| Calendar Yr Imp.    | 0   | 0     | 0     | 0        | 0    | 0    |
| U.S.                |     |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
| Calendar Year       | 0   | 0     | 0     | 0        | 0    | 0    |
| Exports             |     |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+
| Calndr Yr Exp. to   | 0   | 0     | 0     | 0        | 0    | 0    |
| U.S.                |     |       |       |          |      |      |
+---------------------+-----+-------+-------+----------+------+------+

## Meals PSD Tables

### Table 9. Soybean Meal

+-------------------+------+-------+--------+----------+-----+------+
| **PSD Table**     |      |       |        |          |     |      |
+-------------------+------+-------+--------+----------+-----+------+
| **Country**       | #    |       |        |          |     |      |
|                   | #### |       |        |          |     |      |
|                   | # Ch |       |        |          |     |      |
|                   | ina, |       |        |          |     |      |
|                   |  Peo |       |        |          |     |      |
|                   | ples |       |        |          |     |      |
|                   |  Rep |       |        |          |     |      |
|                   | ubli |       |        |          |     |      |
|                   | c of |       |        |          |     |      |
+-------------------+------+-------+--------+----------+-----+------+
| **Commodity**     | **M  |       |        |          | (1  |      |
|                   | eal, |       |        |          | 000 |      |
|                   | S    |       |        |          | MT) |      |
|                   | oybe |       |        |          |     |      |
|                   | an** |       |        |          | (PE |      |
|                   |      |       |        |          | RCE |      |
|                   |      |       |        |          | NT) |      |
+-------------------+------+-------+--------+----------+-----+------+
|                   | 2004 | Re    | 2005   | Estimate | 2   | Fore |
|                   |      | vised |        |          | 006 | cast |
+-------------------+------+-------+--------+----------+-----+------+
|                   | USDA | Post  | USDA   | Post     | U   | Post |
|                   | Offi | Est   | Of     | Estimate | SDA | Esti |
|                   | cial | imate | ficial |          | Of  | mate |
|                   | \[O  |       | \      | \[New\]  | fic |      |
|                   | ld\] | \[    | [Old\] |          | ial | \[N  |
|                   |      | New\] |        |          | \   | ew\] |
|                   |      |       |        |          | [Ol |      |
|                   |      |       |        |          | d\] |      |
+-------------------+------+-------+--------+----------+-----+------+
| #######           |      | 10    |        | 10/2005  |     | 10/  |
| Market Year Begin |      | /2004 |        |          |     | 2006 |
+-------------------+------+-------+--------+----------+-----+------+
| Crush             | 3    | 31312 | 34510  | 34000    | 0   | 3    |
|                   | 0362 |       |        |          |     | 5200 |
+-------------------+------+-------+--------+----------+-----+------+
| Extr. Rate,       | 0.79 | 0.7   | 0.     | 0.791176 | 0   | 0.79 |
| 999.9999          | 1318 | 91326 | 795914 |          |     | 1193 |
+-------------------+------+-------+--------+----------+-----+------+
| Beginning Stocks  | 0    | 0     | 0      | 0        | 0   | 0    |
+-------------------+------+-------+--------+----------+-----+------+
| Production        | 2    | 24778 | 27467  | 26900    | 0   | 2    |
|                   | 4026 |       |        |          |     | 7850 |
+-------------------+------+-------+--------+----------+-----+------+
| MY Imports        | 69   | 69    | 230    | 250      | 0   | 250  |
+-------------------+------+-------+--------+----------+-----+------+
| MY Imp. from U.S. | 0    | 0     | 0      | 0        | 0   | 0    |
+-------------------+------+-------+--------+----------+-----+------+
| MY Imp. from the  | 0    | 0     | 0      | 0        | 0   | 0    |
| EC                |      |       |        |          |     |      |
+-------------------+------+-------+--------+----------+-----+------+
| **TOTAL SUPPLY**  | *    | **24  | **2    | *        | **  | *    |
|                   | *240 | 847** | 7697** | *27150** | 0** | *281 |
|                   | 95** |       |        |          |     | 00** |
+-------------------+------+-------+--------+----------+-----+------+
| MY Exports        | 664  | 634   | 700    | 600      | 0   | 500  |
+-------------------+------+-------+--------+----------+-----+------+
| MY Exp. to the EC | 0    | 0     | 0      | 0        | 0   | 0    |
+-------------------+------+-------+--------+----------+-----+------+
| Industrial Dom.   | 670  | 700   | 630    | 720      | 0   | 730  |
| Consum            |      |       |        |          |     |      |
+-------------------+------+-------+--------+----------+-----+------+
| Food Use Dom.     | 0    | 0     | 0      | 0        | 0   | 0    |
| Consump.          |      |       |        |          |     |      |
+-------------------+------+-------+--------+----------+-----+------+
| Feed Waste Dom.   | 2    | 23513 | 26367  | 25830    | 0   | 2    |
| Consum            | 2761 |       |        |          |     | 6870 |
+-------------------+------+-------+--------+----------+-----+------+
| TOTAL Dom.        | 2    | 24213 | 26997  | 26550    | 0   | 2    |
| Consumption       | 3431 |       |        |          |     | 7600 |
+-------------------+------+-------+--------+----------+-----+------+
| Ending Stocks     | 0    | 0     | 0      | 0        | 0   | 0    |
+-------------------+------+-------+--------+----------+-----+------+
| **TOTAL           | *    | **24  | **2    | *        | **  | *    |
| DISTRIBUTION**    | *240 | 847** | 7697** | *27150** | 0** | *281 |
|                   | 95** |       |        |          |     | 00** |
+-------------------+------+-------+--------+----------+-----+------+
| Calendar Year     | 0    | 55    | 0      | 50       | 0   | 50   |
| Imports           |      |       |        |          |     |      |
+-------------------+------+-------+--------+----------+-----+------+
| Calendar Yr Imp.  | 0    | 0     | 0      | 0        | 0   | 0    |
| U.S.              |      |       |        |          |     |      |
+-------------------+------+-------+--------+----------+-----+------+
| Calendar Year     | 0    | 657   | 0      | 650      | 0   | 600  |
| Exports           |      |       |        |          |     |      |
+-------------------+------+-------+--------+----------+-----+------+
| Calndr Yr Exp. to | 0    | 0     | 0      | 0        | 0   | 0    |
| U.S.              |      |       |        |          |     |      |
+-------------------+------+-------+--------+----------+-----+------+

### Table 10. Rapeseed Meal

+------------------+-------+---------+-------+--------+-------+-------+
| **PSD Table**    |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| **Country**      | ###   |         |       |        |       |       |
|                  | ### C |         |       |        |       |       |
|                  | hina, |         |       |        |       |       |
|                  |  Peop |         |       |        |       |       |
|                  | les R |         |       |        |       |       |
|                  | epubl |         |       |        |       |       |
|                  | ic of |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| **Commodity**    | #     |         |       |        | (1    |       |
|                  | ##### |         |       |        | 000MT |       |
|                  |  Meal |         |       |        | )(PER |       |
|                  | , Rap |         |       |        | CENT) |       |
|                  | eseed |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
|                  | 2004  | Revised | Re    | Es     | 2006  | For   |
|                  |       |         | vised | timate |       | ecast |
+------------------+-------+---------+-------+--------+-------+-------+
|                  | USDA  | Post    | Post  | Post   | USDA  | Post  |
|                  | Off   | E       | Est   | Es     | Off   | Est   |
|                  | icial | stimate | imate | timate | icial | imate |
|                  | \[    |         |       |        | \[    |       |
|                  | Old\] | \[New\] | \[    | \      | Old\] | \[    |
|                  |       |         | New\] | [New\] |       | New\] |
+------------------+-------+---------+-------+--------+-------+-------+
| ####### M        |       | 10/2004 |       | 1      |       | 10    |
| arket Year Begin |       |         |       | 0/2005 |       | /2006 |
+------------------+-------+---------+-------+--------+-------+-------+
| Crush            | 12848 | 12828   | 12828 | 10935  | 0     | 11240 |
+------------------+-------+---------+-------+--------+-------+-------+
| Extr. Rate,      | 0.6   | 0       | 0.6   | 0.     | 0     | 0.6   |
| 999.9999         | 28814 | .628781 | 28781 | 628715 |       | 28648 |
+------------------+-------+---------+-------+--------+-------+-------+
| Beginning Stocks | 0     | 0       | 0     | 0      | 0     | 0     |
+------------------+-------+---------+-------+--------+-------+-------+
| Production       | 8079  | 8066    | 8066  | 6875   | 0     | 7066  |
+------------------+-------+---------+-------+--------+-------+-------+
| MY Imports       | 90    | 90      | 90    | 45     | 0     | 50    |
+------------------+-------+---------+-------+--------+-------+-------+
| MY Imp. from     | 0     | 0       | 0     | 0      | 0     | 0     |
| U.S.             |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| MY Imp. from the | 0     | 0       | 0     | 0      | 0     | 0     |
| EC               |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| **TOTAL SUPPLY** | **8   | *       | **8   | **     | **0** | **7   |
|                  | 169** | *8156** | 156** | 6920** |       | 116** |
+------------------+-------+---------+-------+--------+-------+-------+
| MY Exports       | 76    | 125     | 125   | 50     | 0     | 50    |
+------------------+-------+---------+-------+--------+-------+-------+
| MY Exp. to the   | 0     | 0       | 0     | 0      | 0     | 0     |
| EC               |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| Industrial Dom.  | 350   | 360     | 360   | 370    | 0     | 375   |
| Consum           |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| Food Use Dom.    | 0     | 0       | 0     | 0      | 0     | 0     |
| Consump.         |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| Feed Waste Dom.  | 7743  | 7671    | 7671  | 6500   | 0     | 6691  |
| Consum           |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| TOTAL Dom.       | 8093  | 8031    | 8031  | 6870   | 0     | 7066  |
| Consumption      |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| Ending Stocks    | 0     | 0       | 0     | 0      | 0     | 0     |
+------------------+-------+---------+-------+--------+-------+-------+
| **TOTAL          | **8   | *       | **8   | **     | **0** | **7   |
| DISTRIBUTION**   | 169** | *8156** | 156** | 6920** |       | 116** |
+------------------+-------+---------+-------+--------+-------+-------+
| Calendar Year    | 0     | 94      | 94    | 40     | 0     | 50    |
| Imports          |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| Calendar Yr Imp. | 0     | 0       | 0     | 0      | 0     | 0     |
| U.S.             |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| Calendar Year    | 0     | 125     | 125   | 120    | 0     | 55    |
| Exports          |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+
| Calndr Yr Exp.   | 0     | 0       | 0     | 0      | 0     | 0     |
| to U.S.          |       |         |       |        |       |       |
+------------------+-------+---------+-------+--------+-------+-------+

### Table 11. Peanut Meal

+------------------+-------+-------+-------+-------+-------+-------+
| **PSD Table**    |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Country**      | ###   |       |       |       |       |       |
|                  | ### C |       |       |       |       |       |
|                  | hina, |       |       |       |       |       |
|                  |  Peop |       |       |       |       |       |
|                  | les R |       |       |       |       |       |
|                  | epubl |       |       |       |       |       |
|                  | ic of |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Commodity**    | ####  |       |       |       | (1    |       |
|                  | ## Me |       |       |       | 000MT |       |
|                  | al, P |       |       |       | )(PER |       |
|                  | eanut |       |       |       | CENT) |       |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | 2004  | Re    | 2005  | Est   | 2006  | For   |
|                  |       | vised |       | imate |       | ecast |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                  | Off   | Estim | Off   | Estim | Off   | Estim |
|                  | icial | ate\[ | icial | ate\[ | icial | ate\[ |
|                  | \[    | New\] | \[    | New\] | \[    | New\] |
|                  | Old\] |       | Old\] |       | Old\] |       |
+------------------+-------+-------+-------+-------+-------+-------+
| ####### M        |       | 10    |       | 10    |       | 10    |
| arket Year Begin |       | /2004 |       | /2005 |       | /2006 |
+------------------+-------+-------+-------+-------+-------+-------+
| Crush            | 7002  | 7164  | 6992  | 7200  | 0     | 7511  |
+------------------+-------+-------+-------+-------+-------+-------+
| Extr. Rate,      | 0.3   | 0.3   | 0.3   | 0.3   | 0     | 0.3   |
| 999.9999         | 79177 | 79118 | 90732 | 79028 |       | 79044 |
+------------------+-------+-------+-------+-------+-------+-------+
| Beginning Stocks | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| Production       | 2655  | 2716  | 2732  | 2729  | 0     | 2847  |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imports       | 46    | 46    | 65    | 70    | 0     | 70    |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from     | 0     | 0     | 0     | 0     | 0     | 0     |
| U.S.             |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from the | 0     | 0     | 0     | 0     | 0     | 0     |
| EC               |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL SUPPLY** | **2   | **2   | **2   | **2   | **0** | **2   |
|                  | 701** | 762** | 797** | 799** |       | 917** |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exports       | 6     | 6     | 10    | 10    | 0     | 8     |
+------------------+-------+-------+-------+-------+-------+-------+
| 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.  | 2695  | 2756  | 2787  | 2789  | 0     | 2909  |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.       | 2695  | 2756  | 2787  | 2789  | 0     | 2909  |
| Consumption      |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks    | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL          | **2   | **2   | **2   | **2   | **0** | **2   |
| DISTRIBUTION**   | 701** | 762** | 797** | 799** |       | 917** |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year    | 0     | 76    | 0     | 0     | 0     | 0     |
| Imports          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Yr Imp. | 0     | 0     | 0     | 0     | 0     | 0     |
| U.S.             |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year    | 0     | 4     | 0     | 15    | 0     | 0     |
| Exports          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calndr Yr Exp.   | 0     | 0     | 0     | 0     | 0     | 0     |
| to U.S.          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+

### Table 12. Sunflower Seed Meal

+------------------+-------+-------+-------+-------+-------+-------+
| **PSD Table**    |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Country**      | ###   |       |       |       |       |       |
|                  | ### C |       |       |       |       |       |
|                  | hina, |       |       |       |       |       |
|                  |  Peop |       |       |       |       |       |
|                  | les R |       |       |       |       |       |
|                  | epubl |       |       |       |       |       |
|                  | ic of |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Commodity**    | ##    |       |       |       | (1    |       |
|                  | ####  |       |       |       | 000MT |       |
|                  | Meal, |       |       |       | )(PER |       |
|                  |  Sunf |       |       |       | CENT) |       |
|                  | lower |       |       |       |       |       |
|                  |  Seed |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | 2004  | Re    | 2005  | Est   | 2006  | For   |
|                  |       | vised |       | imate |       | ecast |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                  | Off   | Estim | Off   | Estim | Off   | Estim |
|                  | icial | ate\[ | icial | ate\[ | icial | ate\[ |
|                  | \[    | New\] | \[    | New\] | \[    | New\] |
|                  | Old\] |       | Old\] |       | Old\] |       |
+------------------+-------+-------+-------+-------+-------+-------+
| ####### M        |       | 10    |       | 10    |       | 10    |
| arket Year Begin |       | /2004 |       | /2005 |       | /2006 |
+------------------+-------+-------+-------+-------+-------+-------+
| Crush            | 710   | 694   | 750   | 804   | 0     | 832   |
+------------------+-------+-------+-------+-------+-------+-------+
| Extr. Rate,      | 0.5   | 0.5   | 0.5   | 0.5   | 0     | 0.5   |
| 999.9999         | 40845 | 40346 | 41333 | 41045 |       | 40865 |
+------------------+-------+-------+-------+-------+-------+-------+
| Beginning Stocks | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| Production       | 384   | 375   | 406   | 435   | 0     | 450   |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imports       | 10    | 10    | 10    | 5     | 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** | **    |
|                  | 394** | 385** | 416** | 440** |       | 450** |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exports       | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exp. to the   | 0     | 0     | 0     | 0     | 0     | 0     |
| EC               |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Industrial Dom.  | 80    | 80    | 64    | 80    | 0     | 80    |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Food Use Dom.    | 0     | 0     | 0     | 0     | 0     | 0     |
| Consump.         |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Feed Waste Dom.  | 314   | 305   | 352   | 360   | 0     | 370   |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.       | 394   | 385   | 416   | 440   | 0     | 450   |
| Consumption      |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks    | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL          | **    | **    | **    | **    | **0** | **    |
| DISTRIBUTION**   | 394** | 385** | 416** | 440** |       | 450** |
+------------------+-------+-------+-------+-------+-------+-------+
| 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.   | 0     | 0     | 0     | 0     | 0     | 0     |
| to U.S.          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+

### Table 13. Cotton Seed Meal

+--------------------+-------+-------+-------+-------+-------+-------+
| **PSD Table**      |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| **Country**        | **C   |       |       |       |       |       |
|                    | hina, |       |       |       |       |       |
|                    | Pe    |       |       |       |       |       |
|                    | oples |       |       |       |       |       |
|                    | Rep   |       |       |       |       |       |
|                    | ublic |       |       |       |       |       |
|                    | of**  |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| **Commodity**      | **    |       |       |       | (1    |       |
|                    | Meal, |       |       |       | 000MT |       |
|                    | Co    |       |       |       | )(PER |       |
|                    | ttons |       |       |       | CENT) |       |
|                    | eed** |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
|                    | 2004  | Re    | 2005  | Est   | 2006  | For   |
|                    |       | vised |       | imate |       | ecast |
+--------------------+-------+-------+-------+-------+-------+-------+
|                    | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                    | Off   | Est   | Off   | Est   | Off   | Est   |
|                    | icial | imate | icial | imate | icial | imate |
|                    | \[    | \[    | \[    | \[    | \[    | \[    |
|                    | Old\] | New\] | Old\] | New\] | Old\] | New\] |
+--------------------+-------+-------+-------+-------+-------+-------+
| #######            |       | 10    |       | 10    |       | 10    |
|  Market Year Begin |       | /2004 |       | /2005 |       | /2006 |
+--------------------+-------+-------+-------+-------+-------+-------+
| Crush              | 8815  | 10050 | 8107  | 8700  | 0     | 9250  |
+--------------------+-------+-------+-------+-------+-------+-------+
| Extr. Rate,        | 0.4   | 0.4   | 0.4   | 0.4   | 0     | 0.    |
| 999.9999           | 25752 | 25672 | 25682 | 25287 |       | 42573 |
+--------------------+-------+-------+-------+-------+-------+-------+
| Beginning Stocks   | 0     | 0     | 0     | 0     | 0     | 0     |
+--------------------+-------+-------+-------+-------+-------+-------+
| Production         | 3753  | 4278  | 3451  | 3700  | 0     | 3938  |
+--------------------+-------+-------+-------+-------+-------+-------+
| MY Imports         | 0     | 1     | 3     | 1     | 0     | 1     |
+--------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from U.S.  | 0     | 0     | 0     | 0     | 0     | 0     |
+--------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from the   | 0     | 0     | 0     | 0     | 0     | 0     |
| EC                 |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL SUPPLY**   | **3   | **4   | **3   | **3   | **0** | **3   |
|                    | 753** | 279** | 454** | 701** |       | 939** |
+--------------------+-------+-------+-------+-------+-------+-------+
| MY Exports         | 69    | 69    | 70    | 90    | 0     | 100   |
+--------------------+-------+-------+-------+-------+-------+-------+
| MY Exp. to the EC  | 0     | 0     | 0     | 0     | 0     | 0     |
+--------------------+-------+-------+-------+-------+-------+-------+
| Industrial Dom.    | 140   | 140   | 120   | 141   | 0     | 145   |
| Consum             |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Food Use Dom.      | 0     | 0     | 0     | 0     | 0     | 0     |
| Consump.           |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Feed Waste Dom.    | 3544  | 4070  | 3264  | 3470  | 0     | 3694  |
| Consum             |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.         | 3684  | 4210  | 3384  | 3611  | 0     | 3839  |
| Consumption        |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks      | 0     | 0     | 0     | 0     | 0     | 0     |
+--------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL            | **3   | **4   | **3   | **3   | **0** | **3   |
| DISTRIBUTION**     | 753** | 279** | 454** | 701** |       | 939** |
+--------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year      | 0     | 0     | 0     | 0     | 0     | 0     |
| Imports            |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Calendar Yr Imp.   | 0     | 0     | 0     | 0     | 0     | 0     |
| U.S.               |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year      | 0     | 0     | 0     | 0     | 0     | 0     |
| Exports            |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+
| Calndr Yr Exp. to  | 0     | 0     | 0     | 0     | 0     | 0     |
| U.S.               |       |       |       |       |       |       |
+--------------------+-------+-------+-------+-------+-------+-------+

### Table 14. Fish Meal

+------------------+-------+-------+-------+-------+-------+-------+
| **PSD Table**    |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Country**      | ###   |       |       |       |       |       |
|                  | ### C |       |       |       |       |       |
|                  | hina, |       |       |       |       |       |
|                  |  Peop |       |       |       |       |       |
|                  | les R |       |       |       |       |       |
|                  | epubl |       |       |       |       |       |
|                  | ic of |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Commodity**    | ##    |       |       |       | (1    |       |
|                  | ####  |       |       |       | 000MT |       |
|                  | Meal, |       |       |       | )(PER |       |
|                  |  Fish |       |       |       | CENT) |       |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | 2004  | Re    | 2005  | Est   | 2006  | For   |
|                  |       | vised |       | imate |       | ecast |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                  | Off   | Est   | Off   | Est   | Off   | Est   |
|                  | icial | imate | icial | imate | icial | imate |
|                  | \[    |       | \[    |       | \[    |       |
|                  | Old\] | \[    | Old\] | \[    | Old\] | \[    |
|                  |       | New\] |       | New\] |       | New\] |
+------------------+-------+-------+-------+-------+-------+-------+
| ####### M        |       | 10    |       | 10    |       | 10    |
| arket Year Begin |       | /2004 |       | /2005 |       | /2006 |
+------------------+-------+-------+-------+-------+-------+-------+
| Catch For        | 0     | 0     | 0     | 0     | 0     | 0     |
| Reduction        |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Extr. Rate,      | 0     | 0     | 0     | 0     | 0     | 0     |
| 999.9999         |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Beginning Stocks | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| Production       | 310   | 310   | 300   | 300   | 0     | 310   |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imports       | 1582  | 1580  | 1550  | 1250  | 0     | 1350  |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from     | 0     | 75    | 0     | 80    | 0     | 85    |
| U.S.             |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from the | 0     | 0     | 0     | 0     | 0     | 0     |
| EC               |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL SUPPLY** | **1   | **1   | **1   | **1   | **0** | **1   |
|                  | 892** | 890** | 850** | 550** |       | 660** |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exports       | 6     | 6     | 7     | 7     | 0     | 8     |
+------------------+-------+-------+-------+-------+-------+-------+
| 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.  | 1886  | 1884  | 1843  | 1543  | 0     | 1652  |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.       | 1886  | 1884  | 1843  | 1543  | 0     | 1652  |
| Consumption      |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks    | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL          | **1   | **1   | **1   | **1   | **0** | **1   |
| DISTRIBUTION**   | 892** | 890** | 850** | 550** |       | 660** |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year    | 0     | 1580  | 0     | 1250  | 0     | 1350  |
| Imports          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Yr Imp. | 0     | 75    | 0     | 80    | 0     | 85    |
| U.S.             |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year    | 0     | 2     | 0     | 0     | 0     | 0     |
| Exports          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calndr Yr Exp.   | 0     | 0     | 0     | 0     | 0     | 0     |
| to U.S.          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+

## Oils Tables

### Table 15. Soybean Oil

+------------------+----------+-------+-------+-------+-------+-------+
| **PSD Table**    |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| **Country**      | **China, |       |       |       |       |       |
|                  | Peoples  |       |       |       |       |       |
|                  | Republic |       |       |       |       |       |
|                  | of**     |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| **Commodity**    | **Oil,   |       |       |       | (1    |       |
|                  | S        |       |       |       | 000MT |       |
|                  | oybean** |       |       |       | )(PER |       |
|                  |          |       |       |       | CENT) |       |
+------------------+----------+-------+-------+-------+-------+-------+
|                  | 2004     | Re    | 2005  | Est   | 2006  | For   |
|                  |          | vised |       | imate |       | ecast |
+------------------+----------+-------+-------+-------+-------+-------+
|                  | USDA     | Post  | USDA  | Post  | USDA  | Post  |
|                  | Official | Est   | Off   | Est   | Off   | Est   |
|                  | \[Old\]  | imate | icial | imate | icial | imate |
|                  |          |       | \[    |       | \[    |       |
|                  |          | \[    | Old\] | \[    | Old\] | \[    |
|                  |          | New\] |       | New\] |       | New\] |
+------------------+----------+-------+-------+-------+-------+-------+
| ####### M        |          | 10    |       | 10    |       | 10    |
| arket Year Begin |          | /2004 |       | /2005 |       | /2005 |
+------------------+----------+-------+-------+-------+-------+-------+
| Crush            | 30362    | 31312 | 34510 | 34000 | 0     | 35200 |
+------------------+----------+-------+-------+-------+-------+-------+
| Extr. Rate,      | 0.       | 0.1   | 0.1   | 0.1   | 0     | 0.1   |
| 999.9999         | 17854555 | 78494 | 79832 | 78235 |       | 78409 |
+------------------+----------+-------+-------+-------+-------+-------+
| Beginning Stocks | 341      | 320   | 247   | 220   | 230   | 200   |
+------------------+----------+-------+-------+-------+-------+-------+
| Production       | 5421     | 5589  | 6206  | 6060  | 0     | 6280  |
+------------------+----------+-------+-------+-------+-------+-------+
| MY Imports       | 1739     | 1728  | 2200  | 2400  | 0     | 2500  |
+------------------+----------+-------+-------+-------+-------+-------+
| MY Imp. from     | 0        | 1     | 0     | 5     | 0     | 10    |
| U.S.             |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| MY Imp. from the | 0        | 0     | 0     | 0     | 0     | 0     |
| EC               |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| **TOTAL SUPPLY** | **7501** | **7   | **8   | **8   | **    | **8   |
|                  |          | 637** | 653** | 680** | 230** | 980** |
+------------------+----------+-------+-------+-------+-------+-------+
| MY Exports       | 40       | 40    | 50    | 80    | 0     | 50    |
+------------------+----------+-------+-------+-------+-------+-------+
| MY Exp. to the   | 0        | 0     | 0     | 0     | 0     | 0     |
| EC               |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| Industrial Dom.  | 0        | 0     | 0     | 0     | 0     | 0     |
| Consum           |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| Food Use Dom.    | 7214     | 7377  | 8373  | 8400  | 0     | 8700  |
| Consump.         |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| Feed Waste Dom.  | 0        | 0     | 0     | 0     | 0     | 0     |
| Consum           |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| TOTAL Dom.       | 7214     | 7377  | 8373  | 8400  | 0     | 8700  |
| Consumption      |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| Ending Stocks    | 247      | 220   | 230   | 200   | 0     | 230   |
+------------------+----------+-------+-------+-------+-------+-------+
| **TOTAL          | **7501** | **7   | **8   | **8   | **0** | **8   |
| DISTRIBUTION**   |          | 637** | 653** | 680** |       | 980** |
+------------------+----------+-------+-------+-------+-------+-------+
| Calendar Year    | 0        | 2515  | 0     | 1694  | 0     | 2200  |
| Imports          |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| Calendar Yr Imp. | 0        | 1     | 0     | 5     | 0     | 10    |
| U.S.             |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| Calendar Year    | 0        | 20    | 0     | 63    | 0     | 50    |
| Exports          |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+
| Calndr Yr Exp.   | 0        | 0     | 0     | 0     | 0     | 0     |
| to U.S.          |          |       |       |       |       |       |
+------------------+----------+-------+-------+-------+-------+-------+

### Table 16. Rapeseed Oil

+------------------+-------+-------+-------+-------+-------+-------+
| **PSD Table**    |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Country**      | ###   |       |       |       |       |       |
|                  | ### C |       |       |       |       |       |
|                  | hina, |       |       |       |       |       |
|                  |  Peop |       |       |       |       |       |
|                  | les R |       |       |       |       |       |
|                  | epubl |       |       |       |       |       |
|                  | ic of |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Commodity**    | ##### |       |       |       | (1MT  |       |
|                  | # Oil |       |       |       | )(PER |       |
|                  | , Rap |       |       |       | CENT) |       |
|                  | eseed |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | 2004  | Re    | 2005  | Est   | 2006  | For   |
|                  |       | vised |       | imate |       | ecast |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                  | Off   | Estim | Off   | Estim | Off   | Estim |
|                  | icial | ate\[ | icial | ate\[ | icial | ate\[ |
|                  | \[    | New\] | \[    | New\] | \[    | New\] |
|                  | Old\] |       | Old\] |       | Old\] |       |
+------------------+-------+-------+-------+-------+-------+-------+
| ####### M        |       | 10    |       | 10    |       | 10    |
| arket Year Begin |       | /2004 |       | /2005 |       | /2006 |
+------------------+-------+-------+-------+-------+-------+-------+
| Crush            | 12848 | 12828 | 12050 | 10935 | 0     | 11240 |
+------------------+-------+-------+-------+-------+-------+-------+
| Extr. Rate,      | 0.3   | 0.3   | 0.3   | 0.    | 0     | 0.3   |
| 999.9999         | 54608 | 54849 | 58921 | 35455 |       | 54626 |
+------------------+-------+-------+-------+-------+-------+-------+
| Beginning Stocks | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| Production       | 4556  | 4552  | 4325  | 3877  | 0     | 3986  |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imports       | 209   | 209   | 250   | 350   | 0     | 400   |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from     | 0     | 0     | 0     | 0     | 0     | 0     |
| U.S.             |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from the | 0     | 0     | 0     | 0     | 0     | 0     |
| EC               |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL SUPPLY** | **4   | **4   | **4   | **4   | **0** | **4   |
|                  | 765** | 761** | 575** | 227** |       | 386** |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exports       | 9     | 9     | 50    | 50    | 0     | 50    |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exp. to the   | 0     | 0     | 0     | 0     | 0     | 0     |
| EC               |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Industrial Dom.  | 0     | 0     | 0     | 0     | 0     | 0     |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Food Use Dom.    | 4756  | 4752  | 4525  | 4177  | 0     | 4336  |
| Consump.         |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Feed Waste Dom.  | 0     | 0     | 0     | 0     | 0     | 0     |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.       | 4756  | 4752  | 4525  | 4177  | 0     | 4336  |
| Consumption      |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks    | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL          | **4   | **4   | **4   | **4   | **0** | **4   |
| DISTRIBUTION**   | 765** | 761** | 575** | 227** |       | 386** |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year    | 0     | 353   | 0     | 360   | 0     | 400   |
| Imports          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Yr Imp. | 0     | 0     | 0     | 0     | 0     | 0     |
| U.S.             |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year    | 0     | 5     | 0     | 10    | 0     | 5     |
| Exports          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calndr Yr Exp.   | 0     | 0     | 0     | 0     | 0     | 0     |
| to U.S.          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+

### Table 17. Peanut Oil

+------------------+-------+-------+-------+-------+-------+-------+
| **PSD Table**    |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Country**      | ###   |       |       |       |       |       |
|                  | ### C |       |       |       |       |       |
|                  | hina, |       |       |       |       |       |
|                  |  Peop |       |       |       |       |       |
|                  | les R |       |       |       |       |       |
|                  | epubl |       |       |       |       |       |
|                  | ic of |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Commodity**    | ###   |       |       |       | (1    |       |
|                  | ### O |       |       |       | 000MT |       |
|                  | il, P |       |       |       | )(PER |       |
|                  | eanut |       |       |       | CENT) |       |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | 2004  | Re    | 2005  | Est   | 2006  | For   |
|                  |       | vised |       | imate |       | ecast |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                  | Off   | Estim | Off   | Estim | Off   | Estim |
|                  | icial | ate\[ | icial | ate\[ | icial | ate\[ |
|                  | \[    | New\] | \[    | New\] | \[    | New\] |
|                  | Old\] |       | Old\] |       | Old\] |       |
+------------------+-------+-------+-------+-------+-------+-------+
| ####### M        |       | 10    |       | 10    |       | 10    |
| arket Year Begin |       | /2004 |       | /2005 |       | /2006 |
+------------------+-------+-------+-------+-------+-------+-------+
| Crush            | 7002  | 7164  | 6992  | 7200  | 0     | 7511  |
+------------------+-------+-------+-------+-------+-------+-------+
| Extr. Rate,      | 0.3   | 0.3   | 0.3   | 0     | 0     | 0.3   |
| 999.9999         | 13053 | 13093 | 17506 | .3175 |       | 13141 |
+------------------+-------+-------+-------+-------+-------+-------+
| Beginning Stocks | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| Production       | 2192  | 2243  | 2220  | 2286  | 0     | 2352  |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imports       | 0     | 1     | 0     | 1     | 0     | 2     |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from     | 0     | 0     | 0     | 0     | 0     | 0     |
| U.S.             |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imp. from the | 0     | 0     | 0     | 0     | 0     | 0     |
| EC               |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL SUPPLY** | **2   | **2   | **2   | **2   | **0** | **2   |
|                  | 192** | 244** | 220** | 287** |       | 354** |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exports       | 20    | 20    | 20    | 20    | 0     | 20    |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exp. to the   | 0     | 0     | 0     | 0     | 0     | 0     |
| EC               |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Industrial Dom.  | 0     | 0     | 0     | 0     | 0     | 0     |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Food Use Dom.    | 2172  | 2224  | 2200  | 2267  | 0     | 2334  |
| Consump.         |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Feed Waste Dom.  | 0     | 0     | 0     | 0     | 0     | 0     |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.       | 2172  | 2224  | 2200  | 2267  | 0     | 2334  |
| Consumption      |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks    | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL          | **2   | **2   | **2   | **2   | **0** | **2   |
| DISTRIBUTION**   | 192** | 244** | 220** | 287** |       | 354** |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year    | 0     | 0     | 0     | 0     | 0     | 0     |
| Imports          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Yr Imp. | 0     | 0     | 0     | 0     | 0     | 0     |
| U.S.             |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year    | 0     | 14    | 0     | 20    | 0     | 20    |
| Exports          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calndr Yr Exp.   | 0     | 0     | 0     | 0     | 0     | 0     |
| to U.S.          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+

### Table 18. Palm Oil

+------------------+--------+-------+--------+-------+-------+-------+
| **PSD Table**    |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| **Country**      | China, |       |        |       |       |       |
|                  | P      |       |        |       |       |       |
|                  | eoples |       |        |       |       |       |
|                  | Re     |       |        |       |       |       |
|                  | public |       |        |       |       |       |
|                  | of     |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| **Commodity**    | Oil,   |       |        |       | (1000 |       |
|                  | Palm   |       |        |       | HA)   |       |
|                  |        |       |        |       | (1000 |       |
|                  |        |       |        |       | T     |       |
|                  |        |       |        |       | REES) |       |
|                  |        |       |        |       | (1000 |       |
|                  |        |       |        |       | MT)   |       |
+------------------+--------+-------+--------+-------+-------+-------+
|                  | 2004   | Re    | 2005   | Est   | 2006  | For   |
|                  |        | vised |        | imate |       | ecast |
+------------------+--------+-------+--------+-------+-------+-------+
|                  | USDA   | Post  | USDA   | Post  | USDA  | Post  |
|                  | Of     | Est   | Of     | Est   | Off   | Est   |
|                  | ficial | imate | ficial | imate | icial | imate |
|                  | \      |       | \      |       | \[    |       |
|                  | [Old\] | \[    | [Old\] | \[    | Old\] | \[    |
|                  |        | New\] |        | New\] |       | New\] |
+------------------+--------+-------+--------+-------+-------+-------+
| ####### M        |        | 10    |        | 10    |       | 10    |
| arket Year Begin |        | /2004 |        | /2005 |       | /2006 |
+------------------+--------+-------+--------+-------+-------+-------+
| Area Planted     | 0      | 0     | 0      | 0     | 0     | 0     |
+------------------+--------+-------+--------+-------+-------+-------+
| Area Harvested   | 0      | 0     | 0      | 0     | 0     | 0     |
+------------------+--------+-------+--------+-------+-------+-------+
| Trees            | 0      | 0     | 0      | 0     | 0     | 0     |
+------------------+--------+-------+--------+-------+-------+-------+
| Beginning Stocks | 0      | 0     | 0      | 0     | 0     | 0     |
+------------------+--------+-------+--------+-------+-------+-------+
| Production       | 0      | 0     | 0      | 0     | 0     | 0     |
+------------------+--------+-------+--------+-------+-------+-------+
| MY Imports       | 4363   | 4319  | 4750   | 4750  | 0     | 4900  |
+------------------+--------+-------+--------+-------+-------+-------+
| MY Imp. from     | 0      | 0     | 0      | 0     | 0     | 0     |
| U.S.             |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| MY Imp. from the | 0      | 0     | 0      | 0     | 0     | 0     |
| EC               |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| **TOTAL SUPPLY** | **     | **4   | **     | **4   | **0** | **4   |
|                  | 4363** | 319** | 4750** | 750** |       | 900** |
+------------------+--------+-------+--------+-------+-------+-------+
| MY Exports       | 0      | 0     | 0      | 0     | 0     | 0     |
+------------------+--------+-------+--------+-------+-------+-------+
| MY Exp. to the   | 0      | 0     | 0      | 0     | 0     | 0     |
| EC               |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| Industrial Dom.  | 1644   | 1500  | 1900   | 1700  | 0     | 1750  |
| Consum           |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| Food Use Dom.    | 2719   | 2819  | 2850   | 3050  | 0     | 3150  |
| Consump.         |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| Feed Waste       | 0      | 0     | 0      | 0     | 0     | 0     |
| Consumption      |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| TOTAL Dom.       | 4363   | 4319  | 4750   | 4750  | 0     | 4900  |
| Consumption      |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| Ending Stocks    | 0      | 0     | 0      | 0     | 0     | 0     |
+------------------+--------+-------+--------+-------+-------+-------+
| **TOTAL          | **     | **4   | **     | **4   | **0** | **4   |
| DISTRIBUTION**   | 4363** | 319** | 4750** | 750** |       | 900** |
+------------------+--------+-------+--------+-------+-------+-------+
| Calendar Year    | 0      | 3500  | 0      | 4320  | 0     | 4600  |
| Imports          |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| Calendar Yr Imp. | 0      | 0     | 0      | 0     | 0     | 0     |
| U.S.             |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| Calendar Year    | 0      | 0     | 0      | 0     | 0     | 0     |
| Exports          |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+
| Calndr Yr Exp.   | 0      | 0     | 0      | 0     | 0     | 0     |
| to U.S.          |        |       |        |       |       |       |
+------------------+--------+-------+--------+-------+-------+-------+

### Table 19. Sunflower Seed Oil

### 

+------------------+-------+-------+-------+-------+-------+-------+
| **PSD Table**    |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Country**      | ####  |       |       |       |       |       |
|                  | ### C |       |       |       |       |       |
|                  | hina, |       |       |       |       |       |
|                  |  Peop |       |       |       |       |       |
|                  | les R |       |       |       |       |       |
|                  | epubl |       |       |       |       |       |
|                  | ic of |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Commodity**    | ##    |       |       |       | (1    |       |
|                  | ##### |       |       |       | 000MT |       |
|                  |  Oil, |       |       |       | )(PER |       |
|                  |  Sunf |       |       |       | CENT) |       |
|                  | lower |       |       |       |       |       |
|                  |  Seed |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | 2004  | Re    | 2005  | Est   | 2006  | For   |
|                  |       | vised |       | imate |       | ecast |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                  | Off   | Est   | Off   | Est   | Off   | Est   |
|                  | icial | imate | icial | imate | icial | imate |
|                  | \[    |       | \[    |       | \[    |       |
|                  | Old\] | \[    | Old\] | \[    | Old\] | \[    |
|                  |       | New\] |       | New\] |       | New\] |
+------------------+-------+-------+-------+-------+-------+-------+
| ####### M        |       | 10    |       | 10    |       | 10    |
| arket Year Begin |       | /2004 |       | /2005 |       | /2006 |
+------------------+-------+-------+-------+-------+-------+-------+
| Crush            | 710   | 694   | 750   | 804   | 0     | 832   |
+------------------+-------+-------+-------+-------+-------+-------+
| Extr. Rate,      | 0.3   | 0.3   | 0.36  | 0.3   | 0     | 0.3   |
| 999.9999         | 56338 | 55908 |       | 55721 |       | 55769 |
+------------------+-------+-------+-------+-------+-------+-------+
| Beginning Stocks | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| Production       | 253   | 247   | 270   | 286   | 0     | 296   |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imports       | 1     | 1     | 10    | 5     | 0     | 5     |
+------------------+-------+-------+-------+-------+-------+-------+
| 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** | **    |
|                  | 254** | 248** | 280** | 291** |       | 301** |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exports       | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exp. to the   | 0     | 0     | 0     | 0     | 0     | 0     |
| EC               |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Industrial Dom.  | 0     | 0     | 0     | 0     | 0     | 0     |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Food Use Dom.    | 254   | 248   | 280   | 291   | 0     | 301   |
| Consump.         |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Feed Waste Dom.  | 0     | 0     | 0     | 0     | 0     | 0     |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.       | 254   | 248   | 280   | 291   | 0     | 301   |
| Consumption      |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks    | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL          | **    | **    | **    | **    | **0** | **    |
| DISTRIBUTION**   | 254** | 248** | 280** | 291** |       | 301** |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year    | 0     | 22    | 0     | 1     | 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.   | 0     | 0     | 0     | 0     | 0     | 0     |
| to U.S.          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+

### Table 20. Cottonseed Oil

+------------------+--------+-------+-------+-------+-------+-------+
| **PSD Table**    |        |       |       |       |       |       |
+------------------+--------+-------+-------+-------+-------+-------+
| **Country**      | **     |       |       |       |       |       |
|                  | China, |       |       |       |       |       |
|                  | P      |       |       |       |       |       |
|                  | eoples |       |       |       |       |       |
|                  | Re     |       |       |       |       |       |
|                  | public |       |       |       |       |       |
|                  | of**   |       |       |       |       |       |
+------------------+--------+-------+-------+-------+-------+-------+
| **Commodity**    | **Oil, |       |       |       | (1    |       |
|                  | Cotton |       |       |       | 000MT |       |
|                  | seed** |       |       |       | )(PER |       |
|                  |        |       |       |       | CENT) |       |
+------------------+--------+-------+-------+-------+-------+-------+
|                  | 2004   | Re    | 2005  | Est   | 2006  | For   |
|                  |        | vised |       | imate |       | ecast |
+------------------+--------+-------+-------+-------+-------+-------+
|                  | USDA   | Post  | USDA  | Post  | USDA  | Post  |
|                  | Of     | Est   | Off   | Est   | Off   | Est   |
|                  | ficial | imate | icial | imate | icial | imate |
|                  | \      | \[    | \[    | \[    | \[    | \[    |
|                  | [Old\] | New\] | Old\] | New\] | Old\] | New\] |
+------------------+--------+-------+-------+-------+-------+-------+
| ####### M        |        | 10    |       | 10    |       | 10    |
| arket Year Begin |        | /2004 |       | /2005 |       | /2006 |
+------------------+--------+-------+-------+-------+-------+-------+
| Crush            | 8815   | 10050 | 8107  | 8700  | 0     | 9250  |
+------------------+--------+-------+-------+-------+-------+-------+
| Extr. Rate,      | 0.1    | 0.1   | 0.1   | 0.1   | 0     | 0.    |
| 999.9999         | 455474 | 45572 | 45553 | 45632 |       | 14573 |
+------------------+--------+-------+-------+-------+-------+-------+
| Beginning Stocks | 0      | 0     | 0     | 0     | 0     | 0     |
+------------------+--------+-------+-------+-------+-------+-------+
| Production       | 1283   | 1463  | 1180  | 1267  | 0     | 1348  |
+------------------+--------+-------+-------+-------+-------+-------+
| 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** | **     | **1   | **1   | **1   | **0** | **1   |
|                  | 1283** | 463** | 180** | 267** |       | 348** |
+------------------+--------+-------+-------+-------+-------+-------+
| MY Exports       | 0      | 0     | 0     | 0     | 0     | 0     |
+------------------+--------+-------+-------+-------+-------+-------+
| MY Exp. to the   | 0      | 0     | 0     | 0     | 0     | 0     |
| EC               |        |       |       |       |       |       |
+------------------+--------+-------+-------+-------+-------+-------+
| Industrial Dom.  | 0      | 100   | 0     | 120   | 0     | 120   |
| Consum           |        |       |       |       |       |       |
+------------------+--------+-------+-------+-------+-------+-------+
| Food Use Dom.    | 1283   | 1363  | 1180  | 1147  | 0     | 1228  |
| Consump.         |        |       |       |       |       |       |
+------------------+--------+-------+-------+-------+-------+-------+
| Feed Waste Dom.  | 0      | 0     | 0     | 0     | 0     | 0     |
| Consum           |        |       |       |       |       |       |
+------------------+--------+-------+-------+-------+-------+-------+
| TOTAL Dom.       | 1283   | 1463  | 1180  | 1267  | 0     | 1348  |
| Consumption      |        |       |       |       |       |       |
+------------------+--------+-------+-------+-------+-------+-------+
| Ending Stocks    | 0      | 0     | 0     | 0     | 0     | 0     |
+------------------+--------+-------+-------+-------+-------+-------+
| **TOTAL          | **     | **1   | **1   | **1   | **0** | **1   |
| DISTRIBUTION**   | 1283** | 463** | 180** | 267** |       | 348** |
+------------------+--------+-------+-------+-------+-------+-------+
| 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.   | 0      | 0     | 0     | 0     | 0     | 0     |
| to U.S.          |        |       |       |       |       |       |
+------------------+--------+-------+-------+-------+-------+-------+

### Table 21. Coconut Oil (Copra)

+------------------+-------+-------+-------+-------+-------+-------+
| **PSD Table**    |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Country**      | ###   |       |       |       |       |       |
|                  | ### C |       |       |       |       |       |
|                  | hina, |       |       |       |       |       |
|                  |  Peop |       |       |       |       |       |
|                  | les R |       |       |       |       |       |
|                  | epubl |       |       |       |       |       |
|                  | ic of |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| **Commodity**    | ####  |       |       |       | (1    |       |
|                  | ## Oi |       |       |       | 000MT |       |
|                  | l, Co |       |       |       | )(PER |       |
|                  | conut |       |       |       | CENT) |       |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | 2004  | Re    | 2005  | Est   | 2006  | For   |
|                  |       | vised |       | imate |       | ecast |
+------------------+-------+-------+-------+-------+-------+-------+
|                  | USDA  | Post  | USDA  | Post  | USDA  | Post  |
|                  | Off   | Est   | Off   | Est   | Off   | Est   |
|                  | icial | imate | icial | imate | icial | imate |
|                  | \[    | \[    | \[    | \[    | \[    | \[    |
|                  | Old\] | New\] | Old\] | New\] | Old\] | New\] |
+------------------+-------+-------+-------+-------+-------+-------+
| ####### M        |       | 10    |       | 10    |       | 10    |
| arket Year Begin |       | /2004 |       | /2005 |       | /2006 |
+------------------+-------+-------+-------+-------+-------+-------+
| Crush            | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| Extr. Rate,      | 0     | 0     | 0     | 0     | 0     | 0     |
| 999.9999         |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Beginning Stocks | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| Production       | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Imports       | 132   | 132   | 180   | 150   | 0     | 160   |
+------------------+-------+-------+-------+-------+-------+-------+
| 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** | **    |
|                  | 132** | 132** | 180** | 150** |       | 160** |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exports       | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| MY Exp. to the   | 0     | 0     | 0     | 0     | 0     | 0     |
| EC               |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Industrial Dom.  | 0     | 0     | 0     | 0     | 0     | 0     |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Food Use Dom.    | 132   | 132   | 180   | 150   | 0     | 160   |
| Consump.         |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Feed Waste Dom.  | 0     | 0     | 0     | 0     | 0     | 0     |
| Consum           |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| TOTAL Dom.       | 132   | 132   | 180   | 150   | 0     | 160   |
| Consumption      |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Ending Stocks    | 0     | 0     | 0     | 0     | 0     | 0     |
+------------------+-------+-------+-------+-------+-------+-------+
| **TOTAL          | **    | **    | **    | **    | **0** | **    |
| DISTRIBUTION**   | 132** | 132** | 180** | 150** |       | 160** |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year    | 0     | 113   | 0     | 140   | 0     | 150   |
| Imports          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Yr Imp. | 0     | 0     | 0     | 0     | 0     | 0     |
| U.S.             |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calendar Year    | 0     | 0     | 0     | 0     | 0     | 0     |
| Exports          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+
| Calndr Yr Exp.   | 0     | 0     | 0     | 0     | 0     | 0     |
| to U.S.          |       |       |       |       |       |       |
+------------------+-------+-------+-------+-------+-------+-------+

## Soybean & Rapeseed Wholesale Price Tables

### Table 22. Wholesale Soybean Prices CY2005

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

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

  Tianjin            2,300   2,600   2,660   2,540   2,650   2,680   2,580   2,460   2,440   2,420   2,300   2,350

  Hebei              2,320   2,600   2,680   2,550   2,640   2,650   2,560   2,450   2,440   2,420   2,300   2,360

  Jilin              2,180   2,480   2,620   2,540   2,580   2,550   2,500   2,480   2,500   2,300   2,320   2,300

  Heilongjiang       2,160   2,360   2,580   2,480   2,500   2,520   2,500   2,480   2,450   2,260   2,260   2,240

  Shanghai           2,320   2,680   2,840   2,600   2,680   2,740   2,640   2,480   2,520   2,460   2,420   2,460

  Jiangsu            2,320   2,680   2,780   2,600   2,660   2,730   2,620   2,460   2,540   2,450   2,420   2,440

  Shangdong          2,300   2,600   2,720   2,580   2,620   2,650   2,600   2,500   2,520   2,430   2,410   2,400

  Henan              2,340   2,720   2,760   2,640   2,700   2,700   2,620   2,520   2,540   2,520   2,500   2,460

  Guangdong          2,380   2,700   2,840   2,640   2,560   2,660   2,620   2,480   2,520   2,480   2,450   2,450

  **Average**        2,291   2,602   2,720   2,574   2,621   2,653   2,582   2,479   2,497   2,416   2,376   2,384

  **Jan-Dec Change =                                                                                         
  +4%**                                                                                                      
  ------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------

Source: China National Grains & Oils Information Center, Beijing

### Table 23. Wholesale Soybean Meal Prices in CY2005

### 

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

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

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

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

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

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

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

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

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

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

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

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

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

Source: China National Grains & Oils Information Center, Beijing

### Table 24. Wholesale Soybean Oil Prices in CY2005

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

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

  Tianjin            5,850   5,820   5,680   5,600   5,440   5,340   5,200   5,280   5,060   5,040   5,400   5,200

  Hebei              5,860   5,820   5,680   5,600   5,440   5,350   5,180   5,280   5,060   5,040   5,400   5,200

  Jilin              5,860   5,840   5,480   5,550   5,500   5,360   5,200   5,360   5,180   5,040   5,480   5,320

  Heilongjiang       5,700   5,800   5,340   5,480   5,460   5,250   5,200   5,360   5,180   4,980   5,500   5,240

  Shanghai           5,750   5,840   5,760   5,700   5,460   5,250   5,140   5,200   5,080   5,060   5,250   5,200

  Jiangsu            5,800   5,820   5,740   5,680   5,420   5,220   5,120   5,160   5,050   5,080   5,250   5,150

  Shangdong          5,850   5,820   5,600   5,580   5,300   5,100   5,050   5,160   5,000   5,040   5,400   5,200

  Henan              6,000   5,940   5,760   5,620   5,400   5,350   5,160   5,260   5,080   5,080   5,450   5,250

  Guangdong          5,740   5,760   5,720   5,540   5,220   5,020   5,000   5,050   4,940   4,950   5,140   5,120

  **Average**        5,823   5,829   5,640   5,594   5,404   5,138   5,139   5,234   5,070   5,034   5,363   5,209

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

Source: China National Grains & Oils Information Center, Beijing

**Table 25. Wholesale Rapeseed Oil Prices in CY2005**

<table>
<colgroup>
<col style="width: 10%" />
<col style="width: 8%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 7%" />
<col style="width: 6%" />
<col style="width: 7%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="13">Unit: RMB Yuan/MT: 8.07RMB=US$1.00</td>
</tr>
<tr class="even">
<td>Provinces</td>
<td>Jan</td>
<td>Feb</td>
<td>Mar</td>
<td>Apr</td>
<td>May</td>
<td>Jun</td>
<td>Jul</td>
<td>Aug</td>
<td>Sep</td>
<td>Oct</td>
<td>Nov</td>
<td>Dec</td>
</tr>
<tr class="odd">
<td>Jiangsu</td>
<td>5,950</td>
<td>5,940</td>
<td>5,920</td>
<td>5,720</td>
<td>5,480</td>
<td>5,300</td>
<td>5,320</td>
<td>5,200</td>
<td>5,120</td>
<td>5,050</td>
<td>5,120</td>
<td>5,120</td>
</tr>
<tr class="even">
<td>Zhejiang</td>
<td>5,950</td>
<td>5,940</td>
<td>5,960</td>
<td>5,750</td>
<td>5,600</td>
<td>5,340</td>
<td>5,320</td>
<td>5,220</td>
<td>5,140</td>
<td>5,140</td>
<td>5,220</td>
<td>5,200</td>
</tr>
<tr class="odd">
<td>Anhui</td>
<td>5,850</td>
<td>5,860</td>
<td>5,860</td>
<td>5,720</td>
<td>5,460</td>
<td>5,200</td>
<td>5,220</td>
<td>5,200</td>
<td>5,080</td>
<td>5,040</td>
<td>5,120</td>
<td>5,100</td>
</tr>
<tr class="even">
<td>Jiangxi</td>
<td>5,920</td>
<td>5,940</td>
<td>5,960</td>
<td>5,750</td>
<td>5,580</td>
<td>5,250</td>
<td>5,300</td>
<td>5,180</td>
<td>5,120</td>
<td>5,060</td>
<td>5,120</td>
<td>5,150</td>
</tr>
<tr class="odd">
<td>Hubei</td>
<td>5,950</td>
<td>5,930</td>
<td>6,000</td>
<td>5,650</td>
<td>5,460</td>
<td>5,180</td>
<td>5,250</td>
<td>5,160</td>
<td>5,080</td>
<td>5,060</td>
<td>5,100</td>
<td>5,100</td>
</tr>
<tr class="even">
<td>Hunan</td>
<td>5,950</td>
<td>5,960</td>
<td>6,020</td>
<td>5,750</td>
<td>5,460</td>
<td>5,240</td>
<td>5,250</td>
<td>5,160</td>
<td>5,080</td>
<td>5,100</td>
<td>5,200</td>
<td>5,120</td>
</tr>
<tr class="odd">
<td>Sichuan</td>
<td>6,200</td>
<td>6,260</td>
<td>6,240</td>
<td>5,800</td>
<td>5,540</td>
<td>5,320</td>
<td>5,380</td>
<td>5,280</td>
<td>5,320</td>
<td>5,280</td>
<td>5,350</td>
<td>5,200</td>
</tr>
<tr class="even">
<td><strong>Average</strong></td>
<td>5,967</td>
<td>5,976</td>
<td>5,994</td>
<td>5,734</td>
<td>5,511</td>
<td>5,261</td>
<td>5,291</td>
<td>5,200</td>
<td>5,134</td>
<td>5,104</td>
<td>5,176</td>
<td>5,140</td>
</tr>
<tr class="odd">
<td colspan="13"><p id="jan-dec-change--16" class="heading">Jan-Dec
Change = -16%</p></td>
</tr>
</tbody>
</table>

Source: China National Grains & Oils Information Center, Beijing

### Table 26. A Comparison of Wholesale Prices for Soy & Rapeseed Oil in CY2005

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

  Rapeseed    5967    5976    5994    5734    5511    5261    5291    5200    5134    5104    5176    5140

  Palm Oil    4154    4425    4754    4708    4609    4363    4323    4270    4409    4338    4256    4160

  Soy         5823    5829    5640    5594    5404    5138    5139    5234    5070    5034    5363    5209

  Diff %      2.4     2.5     5.9     2.4     1.9     2.3     2.9     -0.7    1.2     1.4     -3.6    -1.3
  Rape/Soy                                                                                            

  Diff %      -28.7   -24.1   -15.7   -15.8   -14.7   -15.1   -15.9   -18.4   -13.0   -13.8   -20.6   -20.1
  Palm/Soy                                                                                            
  ----------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------

Source: China National Grains & Oils Information Center, Beijing

## Tariff Rate Quota Tables

### Table 27. Soybean Oil

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

### Table 28. Rapeseed Oil

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

### Table 29. Palm Oil

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

+------------+----------------------------------+----------+----------+
| ## Taxes   |                                  |          |          |
|  and Dutie |                                  |          |          |
| s Tables ( |                                  |          |          |
| Jan 01-Dec |                                  |          |          |
|  31, 2006) |                                  |          |          |
+------------+----------------------------------+----------+----------+
| ##         |                                  |          |          |
| # Table 30 |                                  |          |          |
| . Oilseeds |                                  |          |          |
+------------+----------------------------------+----------+----------+
| HS Code    | Description                      | M        | V        |
|            |                                  | .F.N.(%) | .A.T.(%) |
+------------+----------------------------------+----------+----------+
| 12010010   | Soybeans, seed                   |          | 13       |
+------------+----------------------------------+----------+----------+
| 12010091   | Yellow soybean                   | 3        | 13       |
+------------+----------------------------------+----------+----------+
| 12010092   | Black soybean                    | 3        | 13       |
+------------+----------------------------------+----------+----------+
| 12010093   | Green soybean                    | 3        | 13       |
+------------+----------------------------------+----------+----------+
| 12010099   | Other soybean                    | 3        | 13       |
+------------+----------------------------------+----------+----------+
| 12021010   | In shell peanut, seed            |          | 13       |
+------------+----------------------------------+----------+----------+
| 12021090   | In shell peanut, other           | 15       | 13       |
+------------+----------------------------------+----------+----------+
| 12022000   | Shelled peanut                   | 15       | 13       |
+------------+----------------------------------+----------+----------+
| 20081110   | Peanut kernels, in airtight      | 30       | 17       |
|            | containers                       |          |          |
+------------+----------------------------------+----------+----------+
| 20081120   | Roasted peanuts                  | 30       | 17       |
+------------+----------------------------------+----------+----------+
| 20081130   | Peanut butter                    | 30       | 17       |
+------------+----------------------------------+----------+----------+
| 20081190   | Other processed peanuts          | 30       | 17       |
+------------+----------------------------------+----------+----------+
| 12051010   | Low erucic acid rape seed, seed  |          | 13       |
+------------+----------------------------------+----------+----------+
| 12051090   | Low erucic acid rape seed, other | 9        | 13       |
+------------+----------------------------------+----------+----------+
| 12059010   | Other rapeseed, seed             |          | 13       |
+------------+----------------------------------+----------+----------+
| 12059090   | Other rapeseed, other            | 9        | 13       |
+------------+----------------------------------+----------+----------+
| 12060010   | Sunflower seeds, seed            |          | 13       |
+------------+----------------------------------+----------+----------+
| 12060090   | Sunflower seeds, other           | 15       | 13       |
+------------+----------------------------------+----------+----------+
| 12072010   | Cottonseeds for cultivation      |          | 13       |
+------------+----------------------------------+----------+----------+
| 12072090   | Cottonseeds, other               | 15       | 13       |
+------------+----------------------------------+----------+----------+
| 12074010   | Sesame seeds for cultivation     |          | 13       |
+------------+----------------------------------+----------+----------+
| 12074090   | Sesame seeds, other              | 10       | 13       |
+------------+----------------------------------+----------+----------+

### Table 31. Oils

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

  15071000      Crude soybean oil                   9           13

  15079000      Other soybean oil                   9           13

  15081000      Crude peanut oil                    10          13

  15089000      Other peanut oil                    10          13

  15091000      Olive Oil, virgin                   10          13

  15099000      Olive oil, other                    10          17

  15111000      Palm oil, crude                     9           13

  15119010      Palm oil, liquid                    9           13

  15119020      Stearin                             8           13

  15119090      Palm oil, other                     9           17

  15121100      Crude sunflower seed oil            9           13

  15121900      Other sunflower seed oil            9           17

  15122100      Crude cottonseed oil                10          13

  15122900      Other cottonseed oil                10          17

  15131100      Crude coconut oil                   9           13

  15131900      Other coconut oil                   9           13

  15132100      Crude palm kernel oil               9           13

  15132900      Other palm kernel oil               9           17

  15141100      Crude low erucic acid rape or colza 9           13
                oil                                             

  15141900      Other crude low erucic acid rape    9           13
                oil                                             

  15149110      Crude rape or colza oil             9           13

  15149190      Crude mustard oil                   9           13

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

### Table 32. Meals

  ------------- ----------------------------------- ----------- -----------
  H S Code      Description                         M.F.N.(%)   V.A.T.(%)

  12081000      Soyflour                            9           17

  23012010      Fish meal                           2           13

  23025000      Legume sweepings                    5           13

  23040010      Soy meal, oil cake                  5           13

  23040090      Soy meal, other                     5           13

  23050000      Peanut meal                         5           13

  23061000      Cottonseed meal                     5           13

  23063000      Sunflower seed meal                 5           13

  23064100      Low erucic acid rapeseed meal       5           13

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