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Situation and Outlook - February 2002
World oilseed production for 2001/02 is estimated at 323.8 million tons this month, up 440,000 tons from last month. This increase is mostly due to higher copra and soybean production estimates. Philippine copra production increased to 2.5 million tons, from 2.1 million tons last month, due to greater than expected rainfall which resulted in improved yields. Chinese soybean production for 2001/02 increased by 150,000 tons to reach 15.5 million tons. Adjustments to the 2000/01 estimates include an increase of 554,000 tons in Chinese sunflowerseed production and an increase of 300,000 tons in Argentine soybean production.
Despite the increase in U.S. soybean exports of 272,000 tons, to 27.8 million tons this month, forecasted world soybean exports in 2001/02 are 350,000 tons lower, at 58.9 million tons. South American exports for 2001/02 were reduced by 800,000 tons. Argentina accounted for 400,000 tons of that reduction, while Brazil’s exports were reduce by 300,000 tons and Paraguay’s by 100,000 tons. Soybean imports by China in 2001/02 are reduced by 500,000 tons to 13.5 million tons this month, mainly due to the uncertainty surrounding the new biotech regulations and their implementation. Indonesian soybean imports for 2001/02 were reduced by 150,000 tons to 1.7 million tons due to financial difficulties and a slower import pace than last year. Forecasted soybean imports by the European Union rose 260,000 tons to 19.9 million tons for 2001/02. Forecasted E.U. imports, and Philippine exports, of copra meal and coconut oil were also increased. Estimated 2000/01 soybean exports from Paraguay were increased by 100,000 tons.
U.S. soybean ending stocks for 2001/02 are forecast at 7.5 million tons this month, down 290,000 tons from last month due to higher demand for exports and crush. Soybean stocks for Argentina and Brazil are expected to reach 7.9 and 7.3 million tons respectively, up 700,000 and 300,000 tons from last month, as delays related to new import regulations reduce Chinese soybean imports.
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Foreign Developments
For additional information pertaining to the summary above and other noteworthy developments within the oilseeds complex see the reports below. All reports are in Adobe Acrobat format (.pdf) unless otherwise noted. These reports, along with others, may also be obtained in both Adobe Acrobat (.pdf) and WordPerfect format (.wpd) by going directly to the Attaché Report section of the FAS homepage at http://www.fas.usda.gov/
Jan 31 2002 | India | Oilseeds & Products Update - February 2002
Jan 25 2002 | Ukrainel | Oilseeds and Products Annual
Jan 10 2002 | China, Peoples Republic of | Oilseeds Update
Jan 30 2002 | Philippines | Copra and Copra Products PSD Update
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