内容概要：油料是油脂制取工业的原料，油脂工业通常将含油率高于10%的植物性原料称为油料，主要 包括大豆、油菜、芝麻、花生、棉籽、葵花籽、油茶、米糠、橄榄、油桐籽、油棕果等。这些油料在全 球范围内被广泛种植和使用，是世界食用油和植物蛋白的主要来源之一。我国作为油料生产和消费大 国，油料作物是仅次于粮食作物的第二大农作物，油料作物种植品种繁多，播种面积也一直处于高位。 在国家政策的推动下，我国油料产量整体呈稳步增长的趋势。但受国内种植结构等因素影响，油料播种 面积增长受限，因此产量增长幅度也相对较小，难以满足国内市场需求，整体进口依赖程度仍处于较高 水平。数据显示，2024年，我国油料播种面积为14290千公顷，较2023年增加367.8千公顷；油料产量为 3979万吨，较2023年增加115.34万吨。 上市企业：金龙鱼[300999]A、中粮资本（002423.SZ) 相关企业：中粮集团有限公司、九三粮油工业集团有限公司、山东鲁花集团有限公司、锡林郭勒盟红井 源油脂有限责任公司、内蒙古蒙佳粮油工业集团 关键词：油料作物行业政策、油料作物产业链、油料作物播种面积、油料作物产量、油料作物市场竞争 格局、油料作物行 ...

Report Summary 1. Industry Investment Rating - The report does not explicitly mention an industry investment rating. 2. Core View - The USDA's August supply - demand report is overall bullish, laying the foundation for a tightening of global soybean supply in the second half of the year. In the fourth quarter, the domestic overall oilseed supply will tighten, and the vegetable oil and double - low rapeseed sectors are likely to rise and difficult to fall, suggesting buying on dips [5][8]. 3. Key Points by Category Global Situation - The USDA's August supply - demand report is bullish, with the planted area unexpectedly reduced. The US soybean planted area is 80.9 million acres (July expectation: 83.4 million acres), the harvested area is 80.1 million acres (July expectation: 82.5 million acres), the yield per acre is 53.6 bushels (July expectation: 52.5 bushels), the production is 4.292 billion bushels (July expectation: 4.335 billion bushels), and the ending inventory is 290 million bushels (July expectation: 310 million bushels). Argentina's soybean production is 50.9 million tons (July expectation: 49.9 million tons), Brazil's is 169 million tons (July expectation: 169 million tons), and the global ending inventory is 124.9 million tons (July expectation: 126.07 million tons) [8]. Domestic Situation - As of the time of writing, China has not purchased US soybeans. Domestic soybean and soybean meal inventories have reached a phased peak and will decline later, laying the foundation for a tightening supply. Coupled with the anti - dumping of Canadian canola, the domestic overall oilseed supply will tighten in the fourth quarter [5].