SOYBEANS FUTURES (S) - CBR (FLOOR)/C1
By Mei Mei Chu and Qin Ningwei
BEIJING, Sept 12 (Reuters) - China's agriculture
ministry raised its estimate for corn imports in the 2022/23
crop year ending this month by 500,000 metric tons from last
month's estimate to 18.5 million tons, according to a monthly
forecast issued on Tuesday.
The ministry also raised the 2022/23 soybean import
estimates by 4.66 million tons from August to 99.86 million
metric tons, the Chinese Agricultural Supply and Demand
Estimates (CASDE) said.
Key numbers from the CASDE report are below.
2021/22 2022/23 2023/24 2023/2 Percentage
Sept Aug 4 Sept change
Estimate Forecast Foreca
st
Corn - crop
year
Oct-Sept
Planted 43.324 43.07 43.47 43.87 0.92%
acreage
(mln
hectares)
Output (mln 277.2 0.92%
tons) 272.55 282.34 284.94
Imports 21.89 18.5 17.5 17.5 0.00%
(mln tons)
Consumption 287.7 293 0.68%
(mln tons) 290.51 295
Exports 0 0.01 0.01 0.01 0.00%
(mln tons)
Balance 6.74 5.18 6.83 7.43 7.22%
(mln tons)
Soybean -
crop year
Oct-Sept
Planted 8.4 10.243 10.443 10.443 0.00%
acreage
(mln
hectares)
Output (mln 16.4 20.29 21.46 21.46 0.00%
tons)
Imports 91.6 99.86 94.22 97.25 3.22%
(mln tons)
Consumption 107.97 115.07 114.14 116.92 2.44%
(mln tons)
Exports 0.1 0.1 0.15 0.15 0.00%
(mln tons)
Balance -0.07 4.98 1.39 1.64 17.99%
(mln tons)
Cotton -
crop year
Sept-Aug
Beginning 7.6 7.13 7.13 7.13 0.00%
stocks (mln
tons)
Planted 3.028 3 2.872 2.872 0.00%
acreage
(mln
hectares)
Output (mln 5.73 5.98 5.78 5.78 0.00%
tons)
Imports 1.73 1.45 1.85 1.85 0.00%
(mln tons)
Consumption 7.9 7.4 7.69 7.69 0.00%
(mln tons)
Exports 0.03 0.03 0.03 0.03 0.00%
(mln tons)
Ending 7.13 7.13 7.03 7.03 0.00%
Stocks (mln
tons)
Sugar -
crop year
Oct-Sept
Planted 1.263 1.362 1.34 1.34 0.00%
acreage
(mln
hectares)
Cane 1.122 1.163 1.16 1.16 0.00%
Beet 0.141 0.199 0.18 0.18 0.00%
Output (mln 9.56 8.96 10 10 0.00%
tons)
Cane sugar 8.7 7.88 8.9 8.9 0.00%
Beet sugar 0.86 1.08 1.1 1.1 0.00%
Imports 5.33 3.8 5 5 0.00%
(mln tons)
Consumption 15.4 15.6 15.7 15.7 0.00%
(mln tons)
Exports 0.16 0.18 0.14 0.14 0.00%
(mln tons)
Balance -0.67 -3.02 -0.84 -0.84 0.00%
(mln tons)
Edible oils
- crop year
Oct-Sept
Output (mln 27.52 30.5 29.7 30.25 1.85%
tons)
Soybean oil 15.94 18.11 17.71 18.26 3.11%
Rapeseed 5.73 7.38 6.96 6.96 0.00%
Peanut oil 3.39 3.33 3.4 3.4 0.00%
Imports 5.78 8.63 8.43 8.43 0.00%
(mln tons)
Palm oil 3.03 4.5 4.5 4.5 0.00%
Rapeseed 0.97 1.85 1.5 1.5 0.00%
Soybean oil 0.29 0.4 0.5 0.5 0.00%
Consumption 35.84 36.32 36.61 36.61 0.00%
(mln tons)
Exports 0.15 0.18 0.27 0.27 0.00%
(mln tons)
Balance -2.69 2.63 1.25 1.8 44.00%
(mln tons)
(Reporting by Mei Mei Chu, Ningwei Qin and Dominique Patton;
Editing by Muralikumar Anantharaman)
China raises forecast for 2022/23 corn, soybean imports - agriculture ministry
September 12, 2023 at 04:46 am EDT
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