The 2005/2006 Market Outlook For Fats & Oils (With Long-Term Forecasts Through 2013)

TABLE OF CONTENTS

SECTION I: THE OVERALL MARKET FOR FATS AND OILS

Analysis:

Overview

Foreign Trade and Apparent Consumption

Tables:

U.S. Manufacturers Sales

U.S. Manufacturers Sales, by Type

Graph: U.S. Manufacturers Sales, by Type

Producer Price Trends

Consumer Price Trends

Total U.S. Consumption

U.S. Consumption, by Type

U.S. Apparent Consumption

Trade Balance

U.S. Exports, by Type

U.S. Exports as a Percentage of U.S. Manufacturers Sales

Top 20 U.S. Export Destinations

Dollar Market Shares of the Top 20 U.S. Export Destinations

U.S. Imports, by Type

U.S. Imports as a Percentage of U.S. Apparent Consumption

Top 20 U.S. Import Sources

Dollar Market Shares of the Top 20 U.S. Import Sources

SECTION II: THE MARKET FOR VEGETABLE OILS

Part A: The Overall Market

Analysis:

Overview

Foreign Trade and Apparent Consumption

Biotech Crops and Supply

Healthy Eating and the Labeling Issue

The Proposed Ban on Partially Hydrogenated Vegetable Oils

Other Developments

Tables:

U.S. Manufacturers Sales

U.S. Manufacturers Sales, by Type

Annual Growth, by Type

Sales Mix

Total U.S. Consumption

U.S. Consumption, by Type

Annual Growth in U.S. Consumption, by Type

Mix of U.S. Consumption

U.S. Apparent Consumption

Trade Balance

U.S. Exports as a Percentage of U.S. Manufacturers Sales

U.S. Exports, by Type

Top 20 U.S. Export Destinations

U.S. Imports as a Percentage of U.S. Apparent Consumption

U.S. Imports, by Type

Top 20 U.S. Import Sources

Part B: The Market for Soybean Oil

Analysis:

Overview

Foreign Trade and Apparent Consumption

Soybean Oil Consumption and Production

Tables:

U.S. Manufacturers Sales

Total U.S. Consumption

U.S. Consumption, by End-Use

Consumption in Edible Products, by Type

Annual Growth in Consumption in Edible Products, by Type

Mix of Consumption in Edible Products

Consumption in Inedible Products, by Type

Graph: Major End-Uses

Production and Prices

Graph: Consumption and Production

Producer Prices

Supply

Soybean Crushings

Soybean Production and Prices

Soybeans Planted and Harvested

World Production of Soybean Oil

U.S. Apparent Consumption

U.S. Exports as a Percentage of U.S. Manufacturers Sales

U.S. Exports of Crude Soybean Oil and its Fractions, by Country of Destination

U.S. Exports of Refined Soybean Oil and its Fractions, by Country of Destination

U.S. Imports of Crude Soybean Oil and its Fractions, by Country of Origin U.S. Imports of Refined Soybean Oil and its Fractions, by Country of Origin

Part C: The Market for Corn Oil

Analysis:

Overview

Foreign Trade and Apparent Consumption

Corn Oil Consumption and Production

Tables:

U.S. Manufacturers Sales

Total U.S. Consumption

Consumption in Edible Products, by Type

Annual Growth in Consumption in Edible Products, by Type

Mix of Consumption in Edible Products

Graph: Major End-Uses

Production and Prices

Graph: Consumption and Production

Supply

Corn Production and Prices

Corn Planted and Harvested

U.S. Apparent Consumption

U.S. Exports as a Percentage of U.S. Manufacturers Sales

U.S. Exports of Crude Corn Oil and its Fractions, by Country of Destination

U.S. Exports of Refined Corn Oil and its Fractions, by Country of Destination

U.S. Imports of Crude Corn Oil and its Fractions, by Country of Origin

U.S. Imports of Refined Corn Oil and its Fractions, by Country of Origin

Part D: The Market for Cottonseed Oil

Analysis:

Overview

Foreign Trade and Apparent Consumption

Cottonseed Oil Consumption and Production

Tables:

U.S. Manufacturers Sales

Total U.S. Consumption

U.S. Consumption, by End-Use

Consumption in Edible Products, by Type

Annual Growth in Consumption in Edible Products, by Type

Mix of Consumption in Edible Products

Graph: Major End-Uses

Production and Prices

Graph: Consumption and Production

Producer Prices

Supply

Cottonseed Crushings

Cotton Production and Prices

Cotton Planted and Harvested

World Production of Cottonseed Oil

U.S. Apparent Consumption

U.S. Exports as a Percentage of U.S. Manufacturers Sales

U.S. Exports of Crude Cottonseed Oil and its Fractions, by Country of Destination

U.S. Exports of Refined Cottonseed Oil and its Fractions, by Country of Destination

U.S. Imports of Cottonseed Oil and its Fractions, by Country of Origin

Part E: The Market for Sunflowerseed Oil

Analysis:

Overview

Foreign Trade and Apparent Consumption

Sunflowerseed Oil Consumption and Production

Tables:

U.S. Manufacturers Sales

Total U.S. Consumption

U.S. Consumption, by End-Use

Production and Prices

Graph: Consumption and Production

Producer Prices

Supply

Sunflowerseed Crushings

Sunflower Production and Prices

Sunflowers Planted and Harvested

World Production of Sunflowerseed Oil

U.S. Apparent Consumption

U.S. Exports as a Percentage of U.S. Manufacturers Sales

U.S. Exports of Crude Sunflowerseed Oil and its Fractions, by Country of Destination

U.S. Exports of Refined Sunflowerseed Oil and its Fractions, by Country of Destination

U.S. Imports of Crude Sunflowerseed Oil and its Fractions, by Country of Origin

U.S. Imports of Refined Sunflowerseed Oil and its Fractions, by Country of Origin

Part F: The Market for Peanut Oil

Analysis:

Overview

Foreign Trade and Apparent Consumption

Peanut Oil Consumption and Production

Tables:

U.S. Manufacturers Sales

Total U.S. Consumption

U.S. Consumption, by End-Use

Production and Prices

Graph: Consumption and Production

Producer Prices

Supply

Peanut Crushings

Peanut Production and Prices

Peanuts Planted and Harvested

World Production of Peanut Oil

U.S. Apparent Consumption

U.S. Exports as a Percentage of U.S. Manufacturers Sales

U.S. Exports of Crude Peanut Oil and its Fractions, by Country of Destination

U.S. Exports of Refined Peanut Oil and its Fractions, by Country of Destination

U.S. Imports of Crude Peanut Oil and its Fractions, by Country of Origin

U.S. Imports of Refined Peanut Oil and its Fractions, by Country of Origin

Part G: The Market for Canola Oil

Analysis:

Overview

Foreign Trade and Apparent Consumption

Canola Oil Consumption and Production

Tables:

U.S. Manufacturers Sales

Total U.S. Consumption

U.S. Consumption, by End-Use

Consumption in Edible Products, by Type

Annual Growth in Consumption in Edible Products, by Type

Mix of Consumption in Edible Products

Graph: Major End-Uses

Production and Prices

Graph: Consumption and Production

Supply

Canola Seed Crushings

Canola Seed Production and Prices

World Production of Canola Oil

U.S. Apparent Consumption

U.S. Exports as a Percentage of U.S. Manufacturers Sales

U.S. Exports of Crude Canola, Rapeseed/Colza, and Mustard Oils and Their Fractions, by Country of Destination

U.S. Exports of Refined Canola, Rapeseed/Colza, and Mustard Oils and Their Fractions, by Country of Destination

U.S. Imports of Crude Canola, Rapeseed/Colza, and Mustard Oils and Their Fractions, by Country of Origin

U.S. Imports of Refined Canola, Rapeseed/Colza, and Mustard Oils and Their Fractions, by Country of Origin

Part H: The Market for Olive Oil

Analysis:

Overview

Foreign Trade and Apparent Consumption

Olive Oil Consumption and Production

Tables:

U.S. Manufacturers Sales

Olive Oil Consumed in the Manufacture of Edible Products

World Production of Olive Oil

U.S. Apparent Consumption

U.S. Exports as a Percentage of U.S. Manufacturers Sales

U.S. Exports of Olive Oil and its Fractions, by Country of Destination

U.S. Exports of Olive-Residue Oil and Blends of Olive Oil and Olive-Residue Oil, by Country of Destination

U.S. Imports as a Percentage of Apparent Consumption

U.S. Imports of Olive Oil and its Fractions, by Country of Origin

U.S. Imports of Olive-Residue Oil and Blends of Olive Oil and Olive-Residue Oil, by Country of Origin

U.S. Retail Sales

Average Retail Prices

Part I: The Market for Other Vegetable Oils

Analysis:

Overview

Consumption of Other Vegetable Oils

Tall Oil

Coconut Oil

Linseed Oil

Palm Oil and Palm Kernel Oil

Vegetable Oil Foots

Castor Oil

Tung Oil

Foreign Trade and Apparent Consumption

Tables:

Total:

U.S. Manufacturers Sales

Total U.S. Consumption

U.S. Consumption, by Type

Annual Growth in U.S. Consumption, by Type

Mix of U.S. Consumption

Graph: Mix of U.S. Consumption

Producer Prices

Tall Oil:

Total U.S. Consumption

Consumption in Inedible Products, by Type

Annual Growth in Consumption in Inedible Products, by Type

Mix of Consumption in Inedible Products

Coconut Oil:

Total U.S. Consumption

U.S. Consumption, by End-Use

Consumption in Inedible Products, by Type

Annual Growth in Consumption in Inedible Products, by Type

Mix of Consumption in Inedible Products

Supply

World Production

Linseed Oil:

U.S. Manufacturers Sales

Total U.S. Consumption

Consumption in Inedible Products, by Type

Annual Growth in Consumption in Inedible Products, by Type

Mix of Consumption in Inedible Products

Production and Prices

Graph: Consumption and Production

Supply

Flaxseed Crushings

Flaxseed Production and Prices

Flaxseed Planted and Harvested

U.S. Apparent Consumption

U.S. Exports as a Percentage of U.S. Manufacturers Sales

Palm Oil and Palm Kernel Oil:

Total U.S. Consumption of Palm Oil

U.S. Consumption of Palm Oil, by End-Use

World Production of Palm Kernel Oil

Total U.S. Consumption of Vegetable Oil Foots

Castor Oil:

Total U.S. Consumption

Wholesale Prices

Tung Oil:

Total U.S. Consumption

Consumption in Inedible Products, by Type

Annual Growth in Consumption in Inedible Products, by Type

Mix of Consumption in Inedible Products

Wholesale Prices

U.S. Apparent Consumption of Other Vegetable Oils

U.S. Exports:

U.S. Exports as a Percentage of U.S. Manufacturers Sales

U.S. Exports, by Country of Destination:

Coconut Oil and its Fractions

Linseed Oil and its Fractions

Palm Oil and its Fractions

Palm Kernel or Barbassu Oils and Their Fractions

Castor Oil and its Fractions

Tung Oil and its Fractions

Sesame Oil and its Fractions

Other Vegetable Oils and Their Fractions

U.S. Imports:

U.S. Imports as a Percentage of U.S. Apparent Consumption

U.S. Imports, by Country of Origin:

Coconut Oil and its Fractions

Linseed Oil and its Fractions

Palm Oil and its Fractions

Palm Kernel or Barbassu Oils and Their Fractions

Castor Oil and its Fractions

Tung Oil and its Fractions

Sesame Oil and its Fractions

Other Vegetable Oils and Their Fractions

SECTION III: THE MARKET FOR ANIMAL FATS AND OILS

Analysis:

Overview

Foreign Trade and Apparent Consumption

Inedible and Edible Tallow and Grease

Lard

Fish Oil

Dieting Trends and Their Impact

Tables:

Total:

U.S. Manufacturers Sales

U.S. Manufacturers Sales, by Type

Annual Growth, by Type

Sales Mix

Producer Prices:

Feed and Fertilizer By-Products

Inedible Tallow and Grease

Animal and Marine Grease, Including Lard

Total U.S. Consumption

U.S. Consumption, by Type

Annual Growth in U.S. Consumption, by Type

Mix of U.S. Consumption

Inedible Tallow and Grease:

Total U.S. Consumption

U.S. Consumption, by End-Use Product

Annual Growth in U.S. Consumption, by End-Use Product

Mix of U.S. Consumption

Production

Graph: Consumption and Production

Supply

Edible Tallow:

Total U.S. Consumption

U.S. Consumption, by End-Use

Production

Graph: Consumption and Production

Lard:

Total U.S. Consumption

U.S. Consumption, by End-Use

Production

Graph: Consumption and Production

Supply

Total U.S. Consumption of Fish Oil

U.S. Per Capita Consumption of Red Meat:

Total

By Type

Annual Growth in Per Capita Consumption, by Type

Mix of Per Capita Consumption

U.S. Production of Red Meat:

Total

By Type

Annual Growth, by Type

Mix of Production

U.S. Apparent Consumption of Animal Fats and Oils

Trade Balance in the Animal Fats and Oils Industry

U.S. Exports:

U.S. Exports as a Percentage of U.S. Manufacturers Sales

U.S. Exports, by Type

Top 20 U.S. Export Destinations

U.S. Exports, by Country of Destination:

Lard and Other Pig and Poultry Fat

Fats of Bovine Animals, Sheep, or Goats

Lard Stearin, Lard Oil, Oleostearin, Oleo-Oil, and Tallow Oil

Fish Fats and Oils and Their Fractions, Including Liver Oils

Wool Grease and Fatty Substances and Other Animal Fats and Oils and Their Fractions

Chemically Modified Animal and Vegetable Fats and Oils

U.S. Imports:

U.S. Imports as a Percentage of U.S. Apparent Consumption

U.S. Imports, by Type

Top 20 U.S. Import Sources

U.S. Imports, by Country of Origin:

Lard and Other Pig and Poultry Fat

Fats of Bovine Animals, Sheep, or Goats

Lard Stearin, Lard Oil, Oleostearin, Oleo-Oil, and Tallow Oil

Fish Fats and Oils and Their Fractions, Including Liver Oils

Wool Grease and Fatty Substances and Other Animal Fats and Oils and Their Fractions

Chemically Modified Animal and Vegetable Fats and Oils

SECTION IV: AN ANALYSIS OF EDIBLE END-USE MARKETS FOR FATS AND OILS

Part A: Overall Edible End-Use Markets

Analysis:

Overview

Sales of Edible Fats and Oils

Advertising and Promotional Trends in the Edible Fats and Oils Market

Tables:

Total:

Total U.S. Consumption of Fats and Oils in Edible Products

Consumption of Fats and Oils in Edible Products, by Type

Annual Growth in Consumption of Fats and Oils in Edible Products, by Type

Mix of Consumption of Fats and Oils in Edible Products

Total Fats and Oils Consumed in the Manufacture of Edible Products

Fats and Oils Consumed in the Manufacture of Edible Products, by Type

Annual Growth in Consumption of Fats and Oils in the Manufacture of Edible Products, by Type

Mix of Fats and Oils Consumed in the Manufacture of Edible Products

U.S. Manufacturers Sales of Edible Fats and Oils

U.S. Manufacturers Sales of Edible Fats and Oils, by Type

Annual Growth in U.S. Manufacturers Sales of Edible Fats and Oils, by Type

Mix of U.S. Manufacturers Sales of Edible Fats and Oils

U.S. Retail Sales of Fats and Oils

U.S. Retail Sales of Fats and Oils, by Type

Annual Growth in U.S. Retail Sales of Fats and Oils, by Type

Mix of U.S. Retail Sales of Fats and Oils

Salad and Cooking Oils:

Total Fats and Oils Consumed

Fats and Oils Consumed, by Type

Annual Growth in Fats and Oils Consumed, by Type

Mix of Fats and Oils Consumed

U.S. Per Capita Consumption

Baking and Frying Fats:

Total Fats and Oils Consumed

Fats and Oils Consumed, by Type

Annual Growth in Fats and Oils Consumed, by Type

Mix of Fats and Oils Consumed

U.S. Per Capita Consumption

Margarine:

Total Fats and Oils Consumed

Fats and Oils Consumed, by Type

Annual Growth in Fats and Oils Consumed, by Type

Mix of Fats and Oils Consumed

U.S. Per Capita Consumption

Total Media Outlays

Top Five Advertisers

Top Ten Advertised Brands

Media Expenditures, by Company and Brand

Part B: Butter vs. Margarine

Analysis:

Overview

Butter and Margarine Consumption and Production

Retail Sales of Butter and Margarine

Advertising Trends for Butter and Margarine

Tables:

U.S. Manufacturers Sales of Butter vs. Margarine

U.S. Consumption of Butter vs. Margarine in Food Products

U.S. Per Capita Consumption of Butter vs. Margarine

U.S. Production of Butter vs. Margarine

Producer Prices for Butter vs. Margarine

Supply of Butter vs. Margarine

U.S. Retail Sales of Butter vs. Margarine

Average Annual Consumer Expenditures on Butter vs. Margarine, by Demographic Characteristics

Total Media Outlays for Butter

Media Expenditures for Butter, by Company and Brand

SECTION V: AN ANALYSIS OF INEDIBLE END-USE MARKETS FOR FATS AND OILS

Analysis:

Overview

Sales and Consumption of Inedible Products

Emerging Automotive Markets

Tables:

Total:

Total U.S. Consumption of Fats and Oils in Inedible Products

Consumption of Fats and Oils in Inedible Products, by Type

Annual Growth in Consumption of Fats and Oils in Inedible Products,

by Type

Mix of Consumption of Fats and Oils in Inedible Products

Fats and Oils Consumed in the Manufacture of Inedible Products, by Type

Annual Growth in Fats and Oils Consumed in the Manufacture of Inedible Products, by Type

Mix of Fats and Oils Consumed in the Manufacture of Inedible Products

Animal Feed:

Total Fats and Oils Consumed

Fats and Oils Consumed, by Type

U.S. Manufacturers Sales of Animal Feed

Fatty Acids:

Total Fats and Oils Consumed

Fats and Oils Consumed, by Type

Soap:

Total Fats and Oils Consumed

Fats and Oils Consumed, by Type

Resins and Plastics:

Total Fats and Oils Consumed

Fats and Oils Consumed, by Type

U.S. Manufacturers Sales of Resins and Plastics

Paint and Varnish:

Total Fats and Oils Consumed

Fats and Oils Consumed, by Type

U.S. Manufacturers Sales of Paints and Coatings

Lubricants:

Total Fats and Oils Consumed

Fats and Oils Consumed, by Type

U.S. Manufacturers Sales of Lubricating Oils and Greases

SECTION VI: THE IMPACT OF FAT SUBSTITUTES ON THE U.S. FATS AND OILS MARKET

Analysis:

Glossary of Fat Replacers

Protein-Based Fat Replacers

Carbohydrate-Based Fat Replacers

Fat-Based Fat Replacers

Overview

Offering Alternatives in the Fats and Oils Industry

Tables:

Sources of Fat in the Food Supply

Converting 30% of Total Calories to Grams of Fat

Why People Use Reduced-Fat Products

Most Popular Reduced-Fat Products

Selected Reduced-Fat Products with Fat Replacers

SECTION VII: STRUCTURAL ANALYSIS OF THE FATS AND OILS INDUSTRY

Analysis:

Industry Definitions

Overview

Industry Sales

Gross Operating Margin

Value Added by Manufacture

Employment Trends

Ending Inventories

Number of Establishments

Explanation of Terms

Tables:

Operating Structure

Industry Sales, by Segment

Payroll Costs, by Segment

Material Costs, by Segment

Gross Operating Margin

Gross Operating Margin, by Segment

Value Added by Manufacture

Value Added by Manufacture, by Segment

Vertical Integration Index

Employment Structure

Employment Structure, by Segment

Total Labor Costs

Average Hourly Earnings of Production Workers

Average Hourly Earnings of Production Workers, by Segment

Cost of Living Index for Production Workers

Labor Productivity

Indexes of Real Labor Productivity

New Capital Expenditures

New Capital Expenditures, by Segment

Plant vs. Equipment Expenditures

Ending Inventories

Ending Inventories, by Segment

Number of Establishments:

By Segment

By Segment and Employment Size Class

By State

By State and Employment Size Class:

Soybean Processing Industry

Other Oilseed Processing Industry

Fats and Oils Refining and Blending Industry

Rendering and Meat By-Product Processing Industry

The Plant Manager s Workbook:

How to Use This Section

Gathering Your Data

Developing Your Ratios

How Does Your Plant Stack Up?

SECTION VIII: COMPANY PROFILES

Introduction

Aarhus United A/S:

Overview

Selected Products

New Products

Aarhus United USA

Financial Performance

Financial Summary and Analysis

Ag Processing Inc.:

Overview

Selected Products

Recent Developments

Financial Performance

Archer Daniels Midland Company:

Overview

New Products

Recent Acquisitions

Recent Joint Ventures

Other Recent Developments

Financial Performance

Financial Summary and Analysis

Associated British Foods plc:

Overview

Recent Acquisitions

Financial Performance

Financial Summary and Analysis

Bunge Limited:

Overview

Selected Operations

Recent Acquisitions

Other Recent Developments

Financial Performance

Financial Summary and Analysis

Cargill, Incorporated:

Overview

Selected Products

Selected New Products

Financial Performance

CHS Inc.:

Overview

Recent Developments

Financial Performance

Financial Summary and Analysis

Corn Products International, Inc.:

Overview

Selected Products

Recent Developments

Financial Performance

Financial Summary and Analysis

Riceland Foods, Inc.:

Overview

Selected Products

Financial Performance

Ventura Foods, LLC:

Overview

Financial Performance

Financial Summary and Analysis

SECTION IX: DIRECTORY OF SELECTED U.S. MANUFACTURERS OF FATS AND OILS

Introduction

Directory