Executive Summary Chinese dairy import figures provided by IHS Markit were recently updated with values spanning through Aug ’20. Highlights from the updated report include:

• Chinese dairy import volumes increased on a YOY basis for the 21^st time in the past 23 months during Aug ’20, finishing up 9.2% and reaching a record high seasonal level.
• Chinese whole milk powder import volumes declined to a four year low seasonal level during Aug ’20 while Chinese skim milk powder import volumes also declined YOY but remained at the second highest seasonal level on record. Chinese dairy imports excluding SMP and WMP remained at a record high seasonal level for the third consecutive month, however.
• The market share of Chinese dairy imports originating from within the EU-28 increased most significantly from the previous year throughout Aug ’20, while the market share of Chinese dairy imports originating from within New Zealand finished most significantly below previous year levels. The U.S. market share of Chinese dairy import volumes remained higher on a YOY basis for the tenth consecutive month.

Additional Report Details According to IHS Markit, Aug ’20 total Chinese dairy import volumes remained higher on a YOY basis for the 21^st time in the past 23 months, finishing up 9.2% and reaching a record high seasonal level for the month of August. 2019 annual Chinese dairy import volumes increased 13.7% on a YOY basis, reaching a record high level, while 2020 YTD import volumes have increased by an additional 7.2% throughout the first two thirds of the calendar year. Chinese whole milk powder (WMP) import volumes declined 18.6% on a YOY basis throughout Aug ’20, reaching a four year seasonal low level, while Chinese skim milk powder (SMP) import volumes declined 11.1% YOY but remaining at the second highest seasonal level on record. Chinese dairy imports excluding SMP and WMP increased 20.6% YOY, however, reaching a record high seasonal level. The YOY increase in Chinese dairy imports excluding SMP and WMP was the 13^th experienced throughout the past 14 months. Chinese dairy imports excluding SMP and WMP have reached a record high seasonal level over three consecutive months through Aug ’20. The market share of Chinese dairy import volumes originating from within the EU-28 increased most significantly on a YOY basis throughout the month of August, while the market share of imports originating from within New Zealand finished most significantly below previous year levels. The U.S. market share of Chinese dairy import volumes increased to 9.7%, up from the 8.1% market share experienced during August of 2019. The U.S. market share of Chinese dairy import volumes has increased on a YOY basis over ten consecutive months through Aug ’20. Aug ’20 Total Chinese Dairy Imports Declined From the Previous Month’s Six Month High Aug ’20 Chinese Dairy Import Volumes Declined 10.8% MOM but Remained up 9.2% YOY Aug ’20 Total Chinese Dairy Imports Reached a Record High Seasonal Level Aug ’20 Chinese WMP Import Volumes Declined 19.2% MOM and 18.6% YOY Aug ’20 Chinese WMP Imports Declined to a Four Year Seasonal Low Level Aug ’20 Chinese SMP Import Volumes Declined 20.4% MOM and 11.1% YOY Aug ’20 Chinese SMP Imports Remained at the Second Highest Seasonal Level on Record Aug ’20 Chinese Dairy Imports Excluding WMP & SMP Down 7.4% MOM but up 20.6% YOY Aug ’20 Chinese Dairy ‘Other’ Imports Reached a Record High Seasonal Level The EU-28 & NZ Combined to Account for 74% of All Aug ’20 Chinese Dairy Import Volumes The Aug ’20 New Zealand Share of Chinese Dairy Imports Finished Significantly Lower YOY The Aug ’20 EU-28 Share of Total Chinese Dairy Imports Increased Most Significantly YOY Chinese Dairy Imports From the EU-28 up the Most Over the Past 12 Months