China: Oilseeds and Products Annual Report 2013
Report Highlights:
MY13/14 total oilseed production is forecast at 54.9 million tons, down by 2.2 percent, primarily cottonseed, from the estimated 56.2 million tons in MY12/13. Rising consumer affluence supports increasing demand for animal and fish protein and vegetable oils. In response, advancements in concentrated animal and aquatic production, growth in the feed industry and expansion in the crushing sector are spurring demand and the need for protein imports, such as soybeans and rapeseed, given insufficient domestic production. Thus, total oilseed demand will stay strong, particularly for soybeans, with MY13/14 total oilseed consumption forecast at 123.5 million tons, up from an estimated 121.7 million tons in MY12/13. Total oilseed
imports in MY13/14 are forecast to reach 68.9 million tons from 66.1 million tons in MY12/13.
Executive Summary:
Total MY13/14 oilseed production is forecast at 54.9 million tons from a planted area of 24.7 million hectares (MHa), both down 0.5 percent and 2.2 percent from MY12/13, respectively. Rising consumer affluence is driving demand for animal and fish protein and consumption of vegetable oils. In response, advancements in concentrated animal and aquatic production, growth in the feed industry and expansion in the crushing sector are spurring demand and need for imports to supply feed protein sources, such as soybeans and rapeseed. Total oilseed imports in MY13/14 are forecast to reach 68.9 million tons from 66.1 million tons in MY12/13.
