According to GTIS, May ’15 total Chinese dairy import volumes remained weak, finishing down 21.2% YOY. Total Chinese dairy import volumes have declined YOY for nine consecutive months at an average rate of 30.1% over the period. Total Chinese dairy import volumes also declined 7.7% MOM on a daily average basis, consistent with the ten year average April – May seasonal decline in total dairy import volumes of 7.1%. May ’15 total Chinese import volumes did, however, finish above three year average volumes for the first time in four months, finishing 0.9% above May ’12 – May ’14 average volumes. May ’15 whole milk powder (WMP) imports finished down 59.0% YOY and 14.9% MOM on a daily average basis while skim milk powder (SMP) imports finished down 19.2% YOY and 22.9% MOM on a daily average basis. Imported volumes for both products remained below three year average volumes, with WMP and SMP imports declining 40.7% and 6.3%, respectively, vs. May ’12 – May ’14 volumes. May ’15 Total Chinese Dairy Import Volumes Remained Significantly Below Last Year’s Levels May ’15 Total Chinese Dairy Import Volumes Down 7.7% MOM and 21.2% YOY May ’15 Total Chinese Dairy Import Volumes Remained at the Second Highest May Level May ’15 Chinese WMP Import Volumes Down 14.9% MOM and 59.0% YOY May ’15 Chinese WMP Import Volumes Declined to a Five Year Low for the Month of May May ’15 Chinese SMP Import Volumes Down 22.9% MOM and 19.2% YOY May ’15 Chinese SMP Import Volumes Remained at the Third Highest May Level New Zealand Accounted for Nearly 40% of the Total May ’15 Chinese Dairy Import Volumes