China: imports of dairy products as of October 2023

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 ...