Chinese Dairy Imports Update – Dec ’20
Executive Summary Chinese dairy import figures provided by IHS Markit were recently updated with values spanning through Nov ’20. Highlights from the updated report include:
- Chinese dairy import volumes increased on a YOY basis for the 24th time in the past 26 months during Nov ’20, finishing up 12.6% and reaching a record high seasonal level.
- Chinese whole milk powder import volumes declined on a YOY basis throughout Nov ’20 but remained at the third highest seasonal level on record, while Chinese skim milk powder import volumes reached the second highest seasonal level, finishing higher on a YOY basis. Chinese dairy imports excluding SMP and WMP remained at a record high seasonal level for the sixth consecutive month.
- The market share of Chinese dairy imports originating from within the United States increased most significantly from the previous year throughout Nov ’20, while the market share of Chinese dairy imports originating from within New Zealand finished most significantly below previous year levels.