Chinese Dairy Imports Up Substantially in March
Chinese dairy imports jumped more than 30% in some categories in March, reports Dave Kurzawski with INTL FCStone.
“Whole milk powder (WMP), skim milk powder (SMP) and butter imports all increased compared with March last year,” he says.
• WMP was up 47,000 metric tons, or 31%.
• SMP was up 21,000 metric tons, or 38%.
• Baby formula was up 17,400 metric tons, or 29%.
• Butter was up more than 5,600 metric tons, or 19%.
In all categories, New Zealand picked up the lion’s share of these increases, he says. It remains to be seen whether these sales were a one-time occurrence or the start of a new trend.