SunSirs: Agricultural Products Industries Bulk Commodity Intelligence (January 13, 2026)

Macroeconomics

1. [Government Investment] my country has for the first time clarified the layout and investment direction of government investment funds. The National Development and Reform Commission and three other departments jointly issued the "Working Methods on Strengthening the Layout Planning and Investment Guidance of Government Investment Funds," requiring funds to support major strategies, key areas, and weak links where the market cannot effectively allocate resources, promote the deep integration of technological innovation and industrial innovation, and focus on cultivating emerging pillar industries.  Funds are prohibited from investing in restricted, eliminated, and policy-prohibited industrial sectors.

2. [Automobiles] The Ministry of Commerce reported on the progress of consultations on the EU-China electric vehicle case, stating that the EU will issue a "Guidance Document on Submitting Price Commitment Applications," and confirmed that it will adhere to the principle of non-discrimination, applying the same legal standards to each price commitment application in accordance with relevant WTO rules, and evaluating them in an objective and fair manner. The China Chamber of Commerce for Import and Export of Machinery and Electronic Products issued a statement saying that it will encourage and support the companies involved to fully utilize the results of the consultations and strive to protect their export rights to the EU through price commitment applications.

3. [US Tariffs] On January 12, local time, Trump posted on social media that, effective immediately, any country conducting business with the Islamic Republic of Iran will be subject to a 25% tariff on any business activities with the United States.

Agricultural Products

1. [White Sugar] As of December 31st, all 73 sugar mills in Guangxi had started crushing operations for the 2025/26 crushing season, a decrease of one compared to the previous year.  A total of 16.2303 million tons of sugarcane had been crushed, producing 1.9419 million tons of mixed sugar, a decrease of 809,500 tons year-on-year. The mixed sugar yield was 11.96%, a decrease of 0.85% year-on-year. Cumulative sales reached 884,800 tons, with a sales ratio of 45.56%, a decrease of 13.76% year-on-year.

2. [White Sugar] As of December 31, 2025, 36 sugar mills in Yunnan Province had started crushing operations. A total of 3.461 million tons of sugarcane had been crushed, producing 392,300 tons of sugar. The sugar yield was 11.34%, slightly lower than the 11.62% yield during the same period of the previous crushing season. Cumulative sales of new sugar reached 281,400 tons, with a sales ratio of 71.72%, lower than the 81.70% sales ratio of the previous year.

3. [Soybean Meal] The USDA's supply and demand report shows that although production and import estimates were revised upwards, increased domestic use and exports led to a downward revision of the 2025/26 US soybean meal ending stocks from 475,000 short tons last month to 450,000 short tons. Export estimates were revised upwards by 200,000 short tons to 19.4 million short tons. The average annual price of soybean meal was lowered by $5 to $295.00 per short ton.

4. [Soybean Oil] Traders say that US soybean oil usage in the biofuel industry is expected to be 14.8 billion pounds, a decrease of 700 million pounds from last month. Export estimates were revised upwards by 300 million pounds to 1.2 billion pounds. Soybean oil ending stocks were revised upwards from 1.726 billion pounds last month to 1.75 billion pounds.

5. [Oilseeds] Data from the European Commission shows that overall EU oilseed and vegetable oil imports in 2025/26 are lower than last year, reflecting expected increases in domestic oilseed production and crushing. As of January 4th, 2024, the European Union's 27 member states had imported approximately 6.46 million tons of soybeans for the 2024/25 marketing year (beginning July 1st), a decrease of 12% compared to the same period in the 2024/25 marketing year.

6. [Palm Oil] According to cargo surveyor Intertek, Malaysia's palm oil exports from January 1st to 10th increased by 29.19% compared to the previous month.

7. [Palm Oil] Reuters survey: Malaysia's palm oil stocks are expected to reach 2.97 million tons at the end of December, a 4.7% increase from November.

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