March 10, 2020 / 9:00 AM / a month ago

TABLE-Coronavirus to have limited impact on China's soybean demand - ministry

    BEIJING, March 10 (Reuters) - China's agriculture ministry
said on Tuesday that the coronavirus disease is expected to have
limited impact on the country's soybean consumption and the
world's top consumer will bring in more cargoes from the United
States in the coming year. 
    The comments came as the number of coronavirus outbreaks
fell sharply in China and also following a government move to
grant tariff exemption to a list of U.S. products including
soybeans.
    Beijing pledged to increase purchases of U.S. farm products
under the Phase 1 trade deal signed in January, but an
unprecedented coronavirus disease cast doubt over China's
ability to fulfil its commitment.
    The epidemic has infected more than 17,000 people, and
killed more than 3000 in China.
    Government measures to contain the disease, which disrupted
supply chain and dealt a heavy blow to sectors across the
world's second largest economy, have started to ease amid
falling outbreaks within China.
    Supplies of soymeal and soyoil have also become stable, as
operation rate at crushing plants gradually recovered to normal
levels, amid easing coronavirus measures, according to the
monthly Chinese Agricultural Supply and Demand Estimates
(CASDE).
    Corn sales were also expected to speed up, pushing up
supplies in the market, according to the report.
    Forecasts for production, consumption, and imports of corn
and soybean remain the same as last month. 
    Key numbers from the CASDE are below
          2017/   2018/2019   2019/2020  2019/2020  Percentage
          2018   (forecasted  (February   (March      change 
                  by Mar.)    forecast)  forecast)  
 Corn -                                                  
  crop                                              
  year                                              
 Oct-Sep                                            
    t                                               
 Planted  42.40     42.13       41.48      41.48       0.00%
 acreage                                            
  (mln                                              
 hectare                                            
   s)                                               
 Output   259.0    257.33      260.77     260.77       0.00%
  (mln      7                                       
 tonnes)                                            
 Imports  3.47      1.50        3.00       3.00        0.00%
  (mln                                              
 tonnes)                                            
 Consump  270.2                280.80     280.80       0.00%
  tion      5                                       
  (mln                                              
 tonnes)                                            
 Exports  0.02                  0.05       0.05        0.00%
  (mln                                              
 tonnes)                                            
 Balance  -7.73    -24.50      -17.08     -17.08       0.00%
  (mln                                              
 tonnes)                                            
 Soybean                                                 
 - crop                                             
  year                                              
 Oct-Sep                                            
    t                                               
 Planted  8.25      8.40        9.35       9.35        0.00%
 acreage                                            
  (mln                                              
 hectare                                            
   s)                                               
 Output   15.28     16.00       18.10      18.10       0.00%
  (mln                                              
 tonnes)                                            
 Imports  94.13     85.00       87.68      87.68       0.00%
  (mln                                              
 tonnes)                                            
 Consump  107.0                105.51     105.51       0.00%
  tion      5                                       
  (mln                                              
 tonnes)                                            
 Exports  0.14                  0.15       0.15          
  (mln                                              
 tonnes)                                            
 Balance  2.22      -2.05       -0.12      -0.12       0.00%
  (mln                                              
 tonnes)                                            
 Cotton                                                  
 - crop                                             
  year                                              
 Sept-Au                                            
    g                                               
 Beginni  8.75                  7.21       7.21        0.00%
   ng                                               
 stocks                                             
  (mln                                              
 tonnes)                                            
 Planted  3.35      3.37        3.30       3.30        0.00%
 acreage                                            
  (mln                                              
 hectare                                            
   s)                                               
 Output   5.89      6.04        5.80       5.80          
  (mln                                              
 tonnes)                                            
 Imports  1.32      2.00        1.80       1.70       -5.56%
  (mln                                              
 tonnes)                                            
 Consump  8.49                  8.03       7.73       -3.74%
  tion                                              
  (mln                                              
 tonnes)                                            
 Exports  0.04                  0.05       0.05        0.00%
  (mln                                              
 tonnes)                                            
 Ending   7.43      6.98        6.73       7.13        5.94%
 Stocks                                             
  (mln                                              
 tonnes)                                            
 Sugar -                                                 
  crop                                              
  year                                              
 Oct-Sep                                            
    t                                               
 Planted  1.38      1.48        1.42       1.42        0.00%
 acreage                                            
  (mln                                              
 hectare                                            
   s)                                               
  Cane    1.20      1.24        1.19       1.19        0.00%
  Beet    0.18      0.23        0.23       0.23        0.00%
 Output   10.31     10.60       10.62     10.50       -1.13%
  (mln                                              
 tonnes)                                            
  Cane    9.16      9.25        9.23       9.23        0.00%
  sugar                                             
  Beet    1.15      1.35        1.39       1.39        0.00%
  sugar                                             
 Imports  2.43      2.90        3.04       3.04        0.00%
  (mln                                              
 tonnes)                                            
 Consump  15.10                 15.20      15.20       0.00%
  tion                                              
  (mln                                              
 tonnes)                                            
 Exports  0.18                  0.18       0.18        0.00%
  (mln                                              
 tonnes)                                            
 Balance  -2.54     -1.85       -1.72      -1.72       0.00%
  (mln                                              
 tonnes)                                            
 Edible                                                  
 oils -                                             
  crop                                              
  year                                              
 Oct-Sep                                            
    t                                               
 Output   27.15     25.91       26.40      26.40       0.00%
  (mln                                              
 tonnes)                                            
 Soybean  15.87     14.70       15.27      15.27       0.00%
   oil                                              
 Rapesee  5.89      5.70        5.63       5.63        0.00%
    d                                               
 Peanut   3.12      3.07        3.12       3.12        0.00%
   oil                                              
 Imports  6.11      6.52        7.84       7.84        0.00%
  (mln                                              
 tonnes)                                            
  Palm    3.58      4.00        4.40       4.40        0.00%
   oil                                              
 Rapesee  1.07      0.90        1.40       1.40        0.00%
    d                                               
 Soybean  0.48      0.50        0.75       0.75        0.00%
   oil                                              
 Consump  33.36                33.39      33.39        0.00%
  tion                                              
  (mln                                              
 tonnes)                                            
 Exports  0.29                  0.27       0.27        0.00%
  (mln                                              
 tonnes)                                            
 Balance  -0.40     -1.17       0.58       0.58        0.00%
  (mln                                              
 tonnes)                                            
                                                         
 CASDE includes beginning and ending stocks for cotton, which
 Reuters assumes to include the cotton held by state reserves.
 Therefore, ending stocks cited in this table are the beginning
 stocks plus the latest year’s crop and imports, minus
 consumption and exports. For all other products, CASDE only
 includes the balance at the end of the crop year. This appears
 to be the result of the crop output plus imports minus
 consumption and exports.
 
 
 (Reporting by Hallie Gu, Beijing Newsroom, and Dominique
Patton, editing by Louise Heavens)
  
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