CONTENTS

1£®Brief summing-up of the supply and demand of China's grain and oilstuff market¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­1
2.Wheat market analysis¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­3
2.1 Wheat supply and demand¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­3
2.2 Analysis of wheat price¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­5
2.3 Analysis of wheat stock¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­7
2.4 Analysis of wheat import and export¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­8
2.5 Prospect of China wheat market 2004¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­11
3£®Corn market analysis¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­13
3.1 Corn supply and demand¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­13
3.2 Analysis of corn price¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­15
3.3 Analysis of corn stock¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­18
3.4 Analysis of corn import and export¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­19
3.5 Prospect of China corn market 2004¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­23
4. Rice market analysis¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­25
4.1 Rice supply and demand¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­25
4.2 Analysis of rice price¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­27
4.3 Analysis of rice stock¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­29
4.4 Analysis of rice import and export¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­30
4.5 Prospect of China rice market 2004¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­34
5£® Soybean market analysis¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­35
5.1 Soybean supply and demand¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­35
5.2 Analysis of soybean price¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­37
5.3 Analysis of soybean import and export¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­38
5.4 Prospect of China soybean market 2004¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­41
6£® Vegetable oils market analysis¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­42
6.1 Vegetable oils supply and demand¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­42
6.2 Edible vegetable oils market prospect and analysis¡­¡­¡­¡­¡­¡­¡­¡­¡­44

GRAPHS AND TABLES

Table2-1£ºChinese wheat supply and demand balance sheet(crop year) ¡­¡­¡­¡­¡­3
Table2-2£ºWheat output of the main producing provinces and weight by the whole country output and position changing ¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­4
Table2-3£ºTable of China wheat buying protection price ¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­6
Table2-4£ºTable of China wheat import and export, 1995 to 2002 ¡­¡­¡­¡­¡­¡­¡­9
Table2-5£ºMonthly wheat import and export, China, 2003¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­9
Table2-6£ºMonthly wheat import from the first ten countries, 2003¡­¡­¡­¡­¡­¡­10
Table3-1£ºChinese corn balance sheet(crop year)¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­13
Table3-2£º Corn output of the main producing provinces and weight by the whole country output and position changing¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­14
Table3-3£ºCorn buying price and protection price of the main provinces, 1997-2000¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­16
Table3-4£ºChina's northeast area corn buying protection price ¡­¡­¡­¡­¡­¡­¡­17
Table3-5£ºWorld corn stocks, year 1998/1999-2001/2002¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­19
Table3-6£ºChina corn import and export, 1990-2000 ¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­20
Table3-7£ºMonthly corn import and export, 2003, China¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­21
Table3-8£ºMonthly corn import from the first ten countries, 2003¡­¡­¡­¡­¡­¡­21
Table3-9£ºMonthly corn export from the first ten countries, 2003¡­¡­¡­¡­¡­¡­22
Table4-1£ºChinese rice demand and supply balance sheet(crop year)¡­¡­¡­¡­¡­¡­25
Table4-2£º Rice output of the main producing provinces and weight by the whole country output and position changing¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­26
Table4-3£ºContrast sheet of standard rice protection price in the three provinces of northeast China¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­27
Table4-4£ºChina rice import and export statistics, 1980-2002¡­¡­¡­¡­¡­¡­¡­¡­31
Table4-5£ºChina monthly rice products import and export, 2003¡­¡­¡­¡­¡­¡­¡­¡­31
Table4-6£ºMonthly rice import from the first ten countries, 2003¡­¡­¡­¡­¡­¡­¡­32
Table4-7£ºMonthly rice export from the first ten countries, 2003¡­¡­¡­¡­¡­¡­33
Table5-1£ºGeneral balancing analysis on soybean market in China, year 2002/2003¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­36
Table5-2£ºBean products output of the main producing provinces and weight by the whole country output and position changing¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­36
Table5-3£ºChina monthly soybean products import and export, 2003¡­¡­¡­¡­¡­¡­39
Table5-4£ºMonthly soybean import from the first ten countries, 2003¡­¡­¡­¡­¡­39
Table5-5£ºMonthly soybean export from the first ten countries, 2003¡­¡­¡­¡­¡­40
Table6-1£ºOutput of oilseeds products¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­42
Table6-2£ºSoybean oil and sunflower-seed oil price(12.09)¡­¡­¡­¡­¡­¡­¡­¡­¡­45

Graph1-1£ºAgri-products and grain products developing in recent years¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­1
Graph1-2£ºGrain output changing in 1996-2002¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­2
Graph1-3£ºAverage selling price of three grain products¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­2
Graph2-1£ºMain wholesale market price of ordinary class 3 white wheat, 1999-2003¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­7
Graph2-2£ºWheat import, export and domestic price¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­11
Graph3-1£ºMain wholesale market price of ordinary class 2 yellow corn, 1999-2003¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­17
Graph3-2:Corn import, export and domestic price¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­23
Graph4-1£ºMain wholesale market price of early medium and short-grain rice(standard 1), 1999-2003¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­28
Graph4-2£ºMain wholesale market price of early long-grain rice(standard 1), 1999-2003¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­29
Graph4-3£ºOutput, consume and stock of rice in China, 1998-2003¡­¡­¡­¡­¡­¡­¡­30
Graph4-4£ºRice import, export and domestic price¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­34
Graph5-1£ºOutput of soybean in China in recent years¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­35
Graph5-2£ºMain wholesale market price of soybean(oil standard 3), 1999-2003¡­37
Graph5-3£ºSoybean import, export and domestic price¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­41
Graph6-1£ºSalad oil price changing in recent years¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­48
Graph6-2£ºSoybean oil price changing in recent years¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­48
Graph6-3£ºRape oil price changing in recent years¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­48