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Cofeed: China Soybean Oil Supply and Demand Estimates (Nov, 2020)

2020-11-17 www.mnk-9.com
China Soybean Oil Supply and Demand Estimates (Oct-Sept)
Item/Year 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21
(0,000 tonnes) Est. Est. Est. Est. Oct Proj. Nov Proj. Oct Proj. Nov Proj.
Beginning Stocks 97 118 148 171 135 135 134 134
Domestic Production 1476 1577 1614 1541 1696 1696 1751 1770
Imports 53 58 48 80 90 100 90 100
Total Supply 1626 1753 1810 1792 1921 1931 1975 2004
   
Domestic Consumption 1500 1594 1627 1638 1769 1779 1800 1834
Food Consumption 1356 1452 1477 1488 1559 1499 1590 1564
Other Consumption 144 142 150 150 210 280 210 270
Exports 8 11 12 19 18 18 20 20
Total Use 1508 1605 1639 1657 1787 1797 1820 1854
   
Ending Stocks 118 148 171 135 134 134 155 150
Stock-to-use Ratio 7.82% 9.22% 10.43% 8.50% 7.50% 7.46% 8.52% 8.09%