According to GTIS, Feb ’15 total Chinese dairy import volumes remained weak, finishing down 37.5% YOY and 30.1% MOM on a daily average basis. Total Chinese dairy import volumes have declined YOY for six consecutive months at an average rate of 29.7% over the period. Feb ’15 total Chinese import volumes also declined below three year average volumes for the month of February, finishing 14.5% lower. The January – February MOM decline of 30.1% was significantly larger than the five year average January – February seasonal decline of 11.1%. Feb ’15 Chinese milk powder imports followed the same general trend as total dairy import volumes, declining on both a YOY and MOM basis. Feb ’15 whole milk powder (WMP) imports finished down 49.3% YOY and 32.0% MOM on a daily average basis while skim milk powder (SMP) imports finished down 35.2% YOY and 17.9% MOM on a daily average basis. WMP and SMP import volumes remained below three year average volumes, finishing 22.6% and 13.4% lower, respectively. Feb ’15 Total Chinese Dairy Imports Declined Seasonally off of the Recent Nine Month High Feb ’15 Chinese Dairy Import Volumes Down 30.1% MOM and 37.5% YOY Feb ’15 Chinese Dairy Import Volumes Remained the Third Largest Feb Volume on Record Feb ’15 Chinese WMP Import Volumes Down 32.0% MOM and 49.3% YOY Feb ’15 Chinese WMP Import Volumes Remained the Second Largest Feb Volume on Record Feb ’15 Chinese SMP Import Volumes Down 17.9% MOM and 35.2% YOY Feb ’15 Chinese SMP Import Volumes Remained the Third Largest Feb Volume on Record New Zealand Accounted for Over Two Thirds of Total Feb ’15 Chinese Dairy Import Volumes