China WMP imports weaker in September

by | Oct 25, 2023 | Global, Volume trends

September dairy imports fell an estimated 14.3% YOY in milk solids equivalent (MSE) terms, driven by lower purchases of milk powders and dry whey.

WMP imports were down 35.9% YOY to 18,981t, pulling year to date volumes down 38% or 228,855t. With high local inventories at 81,100t in August according to BOABC, SMP imports declined again, down 22.2% YOY in September (with average CIF import prices increasing to US$3,189/t. As a result of strong buying earlier in the year, SMP imports are still up 9% for the year to date.

Butter imports rose 13.7% and AMF improved 12.4% YOY in September, but were down 9% and 6% respectively for the year to date. Cheese imports have increased by 18% since the start of the year with the months of September up 14.8% YOY as average CIF shipped prices fell to US$5,424/t. Dry whey imports declined for the third consecutive month in September, down 11.6% YOY to 55,359t.