Executive Summary

Chinese dairy import figures were recently updated with values spanning through Oct ’21. Highlights include:

• Chinese dairy imports remained higher on a YOY basis for the 26^th consecutive month throughout Oct ’21, finishing 9.6% above the previous year and reaching a record high seasonal level. The YOY increase in Chinese dairy imports was the smallest experienced throughout the past 11 months, however.
• The market share of Chinese dairy imports originating from within the U.S. increased most significantly from the previous year throughout Oct ’21. The market share of Chinese dairy imports originating from within New Zealand and the EU-27+UK each declined from the previous year levels.
• Growth in Chinese dairy import volumes through the first three quarters of 2021 have been led by whole milk powder and whey.

Chinese Customs Data

Oct ’21 Total Chinese Dairy Imports Declined to a 12 Month Low Level

Oct ’21 Chinese Dairy Import Volumes Declined 4.4% MOM but Remained 9.6% Higher YOY

Oct ’21 Total Chinese Dairy Imports Reached a Record High Seasonal Level

The Oct ’21 YOY Increase in Chinese Dairy Imports was the 26^th Experienced in a Row

New Zealand & the EU-27+UK Accounted for 65% of Total Oct ’21 Chinese Dairy Imports

The Oct ’21 U.S. Share of Total Chinese Dairy Imports Increased Most Significantly YOY

Chinese Dairy Imports From New Zealand up the Most Over the Past 12 Months

Chinese Dairy Import Volumes by Product (Lagged by One Month)

Supplemental Chinese dairy import breakouts by product are made available by the European Commission, with data lagging the Chinese customs data by one month. Charts highlighting the Chinese import volumes by product through Sep ’21 are shown below.

Whole Milk Powder has Accounted for Over One Third of All Jan-Sep Chinese Dairy Imports

Jan-Sep YOY Increases in Chinese Dairy Imports led by Whole Milk Powder and Whey

Prior Month Chinese WMP Import Volumes Down 49.7% MOM but up 53.5% YOY

Prior Month Chinese WMP Imports Reached a Record High Seasonal Level

Prior Month Chinese SMP Import Volumes Down 6.7% MOM and 13.8% YOY

Prior Month Chinese SMP Imports Remained at the Second Highest Seasonal Level on Record