Chinese dairy imports to improve in 2025 – Rabobank

Published Dec 1, 2024

Tridge summary

A recent report by Rabobank forecasts a 2% annual increase in China's dairy imports by 2025, reversing a 17% decline in the first eight months of this year. The report attributes the decline to a decrease in import volumes of Skim Milk Powder, whole milk powder, liquid milk and cream, and infant milk formula. The decline is also due to low farmgate milk prices, leading to herd reductions and farm exits. However, the report suggests that consumer demand may recover, leading to an increase in dairy consumption in 2024, despite low consumer confidence and weak income expectations.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Chinese dairy imports could improve by “2% year on year” in 2025, according to a new Rabobank report. This would reverse the sharp decline in China’s net dairy product import volumes in the first eight months of this year which slumped year on year by 17%. According to the latest Rabobank analysis Chinese Skim Milk Powder (SMP) imports plunged by 36.8% year on year to 178,000 metric tonne. Imports of whole milk powder (WMP) also declined by 12.6%. The latest RaboResearch also identified that liquid milk and cream imports by China fell by 15.6% while infant milk formula imports dropped back by 14.8%. Rabobank However Michael Harvey, senior dairy analyst at RaboResearch, said it expects China’s three-year run of declining net import volumes “to end in 2025, with imports improving by 2% year-on-year”. “This is lead by lower supply and optimism for a recovery in consumer demand,” he added. In China farmgate milk prices are near 10-year lows which has resulted in herd reductions and ...

Source: AgriLand