China: imports of dairy products as of October 2023

Market & Price Trends
Published Nov 27, 2023

Tridge summary

China's imports of dairy products have been growing consistently, except for in 2015, with an annual growth rate of 10.6% between 2013 and 2021. However, there was a drop of 16.5% in 2022, leading to a reduced annual growth rate of 7.2%. In October 2023, volume of dairy products imported by China fell by 5.5%, contradicting estimates of recovery, and there was a significant drop of 13.7% in equivalent liters of milk. These declines in purchases from China are attributed to factors such as increased local production, high stocks from 2021 purchases, logistical difficulties, effects of the war in Ukraine, and inflationary processes affecting demand.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Imports of dairy products from China had been growing significantly between 2013-2021 (except in the 2015 crisis) at a cumulative rate of 10.6% annually, and with the drop of 16.5% in 2022 the rate was reduced to 7 .2% annually. In any case, China continues to be the great driver of dairy demand in the international market. Last October, the volume of dairy products imported by China fell by 5.5%, contradicting the estimates that proposed recovery for the second half of 2023. In equivalent liters of milk, there was a significant drop of 13.7%. Measured exports in dollars there was a sharp drop of 18.5% due to the fall in international prices. In the accumulated period of January-October of the year, imports registered a drop of 9.4% in tons of product, 19.7% in liters of milk equivalent and 10.5% in values measured in dollars. China's purchases in the international market amounted to about 20,000 million liters of milk equivalent in 2021, very close to 25% of what was sold in that ...
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