Supplemental Statement - FARA

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Received by NSD/<strong>FARA</strong> Registration Unit 08/23/2012 9:59:28 AM MARKET Jgfcights 5 ** India Outlook 2012 t* * % * mv si % -«y«7 t to 'II •in Source: Oil m m m a* r-.-i A »f, m i it /• fff. «: Oils and Fats Supply & Demand Production of oils and fats during Kharif 2011/12 season went up by at least 300,000 tonnes. Soybean and castor oils are two main contributors of the increase where soybean production alone expected to increase by 280,000 tonnes. Castor oil production is also contributing to the increase in Kharif oil production but most of castor oil is meant for export market. Base on Rabi sowing area, production is estimated to be lower due to reduce acreage in rapeseed cultivation area. Rapeseed area for 2011/12 covers 6.53 million ha against 7.11 million ha in the previous season. The estimated oil production from rapeseed cultivation is about 2:13 million tonnes, almost 190,000 less than the previous season. Government of India moves towards encouraging oilseed planting' through 10% increase in minimum support price India: S& D Balance I • \ as* ft m (MSP) to boost Rabi crop production unable to encourage farmers to increase oilseed acreage as the new MSP of oilseed (rapeseed and mustard) remains below the current market rates. 2011/12 oil year is expected to operate almost 100,000 tonnes increase in India oils and fats production through Kharif and Rabi oilseed crops. Base on the last three years, India has been consistently keeping at least 1.6 million tonnes of various vegetable oils as stock. We would expect that the situation remains as that level could provide secured feeling to the consumers and to avoid any panic buying which could lift the price not just in India but in the international market. This is also to control domestic price and maintain food inflation in check. In conclusion, India imports is expected to increase even though domestic vegetable oils production is expected to increase. its imports despite the fact that Rupees is depreciating against US Dollar and the upward movement of oils and fats prices in the international market could slow down imports but it is still required to meet growing domestic demand. Castor oil, which recorded substantial increase, does not have significant impact towards domestic oils and fats supply as the oil is mostly meant for exports. It is estimated that in 2012 imports to go up to 9.05 million MT as such volume would give India a comfortable stock level besides compensating the shortage. India Vegetable Oils Import Composition With India's import in 2012 is expected to increase by 4% to 9.05 million tonnes, the volume is expected to be distributed among four major oils, palm, soybean, sunflower and palm kernel oil. These four, made up 99% of the total India oils and fats imports. India: Vegetable Oils Production for 2011/12 |§|ll||Kharif illlB-l Continued on page 101 saw gfl0/11 2011/12 lflB/11 2011/12 Oil availability est (Mn T) Si ! Oil availability est;::::i,7S ( m (rapeseed only) in MrvT|: Total • ri . m 'UHt '•'£ Rccci\alln \SI) I \l< \ kcLMMratuin I nit 08/23/2012 9:59:28 AM s '-«•; 9ma:arid.OER of 33%
Received by NSD/<strong>FARA</strong> Registration Unit 08/23/2012 9:59:28 AM MARKET $js/flr h ts A Continued from page 9 India OlltlOOk 201 2 ('000 T) Opening Stock Stock Usage Ratio 6.0% India: S&D .?C"9,142 9,373 9,082 9,819 It is estimated that most India import will go to palm oil, which comprised at least 75% of the total oils and fats imports. As for soybean oil, it will depend on its price discount to sunflower oil. In the recent months, sunflower oil price (cif, Indian Ports) has been cheaper than soybean oil which gives sunflower oil greater advantage to soybean oil. As for palm oil import source, Indonesia and Malaysia will continue to be the main palm oil suppliers into India with ratio of 75:25. • Fatimah r MARKET sights 4 Continued from page 7 Cocoa Butter Equivalents An Overview of the Russian Market is EFCO Food Ingredients in the Belgorod region, with its products using the trademark Ekolad. In 2010, the company increased its exports by 42%, but in the first half of 2011, shipments declined to 13%. The main exports substitutes manufactured by the company are sent to Ukraine. In addition, it is worth noting that in 2010, EFCO Food Ingredients opened its own transshipment and production complex for processing palm oil in the port of Taman in Krasnodar Territory. Another major Russian producer of cocoa butter substitutes is JSC Nizhny 2011E 2012F 1*1,657 : 1,681 5,317 .6,847 78,717 9,052 71:4,434 -15,279 -17,022 117,811 -"18,096 #18,500 1,666 1,657 Palm Oil Sunflower Oil £ • mmm C£3^S*7- •• f tJliiimi «i T£22S\ •»-* -> . P "Mi Estimate imports of vegetable oils by India 2012 ('000 T) ^**t - y$\„. - , ?-&.:; > i* m V«w **• •.. Novgorod Oil and Fat Plant and its products are trademarked Margo. The main buyer of products, produced by Russian companies is Kazakhstan. A major player here is the corporation Soyuz, based in Kaliningrad and producing under the brand SDS. The share of cocoa butter substitutes in total exports of confectionery fat for the period 2008-2010 was 39%. In 2009, compared with 2008, the volume of imports of confectionery fats rose by 15.7% and in 2010, compared with the January-December period of 2009, it rose by 24.4%. During the last three years, the share of cocoa butter substitutes and equivalents in total SOW •••Il'i** _, , v'»i v i . «l'
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Supplemental Statement - FARA

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