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