Chinese Dairy Imports Update – Jun ’20
Executive Summary Chinese dairy import figures provided by IHS Markit were recently updated with values spanning through May ’20. Highlights from the updated report include:
- Chinese dairy import volumes increased on a YOY basis for the 18th time in the past 20 months during May ’20, finishing up 4.3% and reaching a record high seasonal level.
- Chinese whole milk powder import volumes increased 13.1% on a YOY basis throughout May ’20, reaching a six year seasonal high level, however Chinese skim milk powder imports declined 12.7% YOY. Chinese dairy imports excluding whole milk powder and skim milk powder increased 4.7% on a YOY basis throughout the month of May.
- The market share of Chinese dairy imports originating from within the U.S. increased most significantly from the previous year throughout May ’20, while the market share of Chinese dairy imports originating from within New Zealand, the EU-28 and Australia finished below previous year levels.