Content ID

332137

CORRECTED-TABLE-China lowers 21/22 soybean import estimate amid hog farming losses

(Corrects to read "2022/2023 July Forecast" in table (not "2021/2022 July Forecast")) Aug 12 (Reuters) - China's agriculture ministry on Friday lowered its estimates for soybean imports in the 2021/2022 crop year to 91.02 million tonnes, down 1.98 million tonnes from the previous month's estimate, after heavy hog industry losses reduced demand for soymeal. Imports will be down 8.8% from the previous year, said the Chinese Agricultural Supply and Demand Estimates (CASDE) report, which also lowered its estimates for edible oil production in the 2021/22 year by 320,000 tonnes to 27.68 million tonnes. It did not change estimates for the coming 2022/23 crop year that starts in October. Estimates to corn output, imports and consumption were also unchanged, however recent low temperatures and excessive rainfall in the northeast, might impact corn growth in some areas, it said. Key numbers from the monthly CASDE report are below: 2020/2021 2021/22 August 2022/23 July 2022/23 August Percentage Estimate Forecast Forecast change Corn - crop year Oct-Sept Planted acreage (mln hectares) 41.264 43.324 42.524 42.524 0.00% Output (mln tonnes) 260.66 272.55 272.56 272.56 0.00% Imports (mln tonnes) 29.56 20 18 18 0.00% Consumption (mln tonnes) 282.16 287.7 290.51 290.51 0.00% Exports (mln tonnes) 0 0.02 0.01 0.01 0.00% Balance (mln tonnes) 8.06 4.83 0.04 0.04 0.00% Soybean - crop year Oct-Sept Planted acreage (mln hectares) 9.882 8.4 9.933 9.933 0.00% Output (mln tonnes) 19.6 16.4 19.48 19.48 0.00% Imports (mln tonnes) 99.78 91.02 95.2 95.2 0.00% Consumption (mln tonnes) 113.26 107.88 112.87 112.87 0.00% Exports (mln tonnes) 0.06 0.08 0.15 0.15 0.00% Balance (mln tonnes) 6.06 -0.54 1.66 1.66 0.00% Cotton - crop year Sept-Aug Beginning stocks (mln tonnes) 7.36 7.6 7.15 7.16 0.14% Planted acreage (mln hectares) 3.17 3.028 3.034 3.034 0.00% Output (mln tonnes) 5.91 5.73 5.74 5.86 2.09% Imports (mln tonnes) 2.75 1.75 2.05 2.05 0.00% Consumption (mln tonnes) 8.4 7.9 7.85 7.85 0.00% Exports (mln tonnes) 0.03 0.03 0.03 0.03 0.00% Ending Stocks (mln tonnes) 7.6 7.16 7.07 7.19 1.70% Sugar - crop year Oct-Sept Planted acreage (mln hectares) 1.453 1.316 1.362 1.362 0.00% Cane 1.191 1.163 1.163 1.163 0.00% Beet 0.262 0.153 0.199 0.199 0.00% Output (mln tonnes) 10.67 9.56 10.35 10.35 0.00% Cane sugar 9.13 8.7 9.21 9.21 0.00% Beet sugar 1.54 0.86 1.14 1.14 0.00% Imports (mln tonnes) 6.34 4.5 5 5 0.00% Consumption (mln tonnes) 15.5 15.4 15.6 15.6 0.00% Exports (mln tonnes) 0.13 0.18 0.18 0.18 0.00% Balance (mln tonnes) 1.38 -1.52 -0.43 -0.43 0.00% Edible oils - crop year Oct-Sept Output (mln tonnes) 28.64 27.68 29.25 29.25 0.00% Soybean oil 17.14 15.85 16.75 16.75 0.00% Rapeseed 5.72 5.93 6.53 6.53 0.00% Peanut oil 3.37 3.42 3.45 3.45 0.00% Imports (mln tonnes) 10.74 6.6 8.43 8.43 0.00% Palm oil 5.02 3.2 4.5 4.5 0.00% Rapeseed 2.37 1.3 1.5 1.5 0.00% Soybean oil 1.23 0.45 1.2 1.2 0.00% Consumption (mln tonnes) 36.35 36.34 36.34 36.34 0.00% Exports (mln tonnes) 0.27 0.27 0.27 0.27 0.00% Balance (mln tonnes) 2.76 -2.34 1.07 1.07 0.00% (Reporting by Emily Chow and Beijing newsroom; editing by Jason Neely)

© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about
Loading...

Talk in Marketing