Chinese Dairy Imports Update – Mar ’20
Executive Summary Chinese dairy import figures provided by IHS Markit were recently updated with values spanning through Feb ’20. Highlights from the updated report include:
- Chinese dairy import volumes were projected to have increased on a YOY basis for the 15th time in the past 17 months during Feb ’20, finishing up 8.7% and reaching a record high seasonal level for the month of February.
- Chinese whole milk powder import volumes were projected to have increased 16.4% on a YOY basis during Feb ’20, reaching a six year high seasonal level. Skim milk powder import volumes were projected to have declined 21.1% YOY but remained at the second highest seasonal level experienced throughout the past six years. Feb ’20 Chinese dairy imports excluding whole milk powder and skim milk powder were projected to have increased 13.2% YOY, reaching a record high seasonal level.
- Jan-Feb ’20 Chinese dairy imports originating from within the U.S. and EU-28 gained market share from the previous year, while Chinese dairy imports originating from within Belarus and New Zealand finished most significantly below previous year volumes.