Chinese Dairy Imports Update – Nov ’20
Executive Summary Chinese dairy import figures provided by IHS Markit were recently updated with values spanning through Oct ’20. Highlights from the updated report include:
- Chinese dairy import volumes increased on a YOY basis for the 23rd time in the past 25 months during Oct ’20, finishing up 32.5% and reaching a record high seasonal level.
- Chinese whole milk powder import volumes increased to a seven year high seasonal level during Oct ’20 while Chinese skim milk powder import volumes reached a record high seasonal level. Chinese dairy imports excluding SMP and WMP remained at a record high seasonal level for the fifth consecutive month.
- The market share of Chinese dairy imports originating from within the United States increased most significantly from the previous year throughout Oct ’20, while the market share of Chinese dairy imports originating from within New Zealand finished most significantly below previous year levels.