China's milk market 2024

China's declining import demand for dairy products is narrowing global price scope . China's import trade for dairy products is very important: in the case of whole milk powder, the middle country accounts for almost 50% of world trade imports, for skimmed milk powder it is almost 25%, for butter it is 22% However, in the case of cheese only 8% is achieved. The import volumes of baby food are also worth noting. Import volumes fell as early as 2023. The USDA estimates that import behavior will remain low for 2024 because Chinese domestic production has increased slightly, but demand is more or less stagnating at the level reached. The reduced import purchases in the milk powder sector have a particularly strong impact. As the largest supplier, New Zealand is clearly feeling this. The EU 27, as the leading exporter of dairy products, is not directly affected, but the limited sales opportunities worldwide are also noticeable here. The most recent Global Dairy Trade auction was no longer able to maintain the price level achieved in previous auctions and had to accept significant price declines, particularly in the milk powder sector. The New Zealand dairy's regular 14-day event delivers trend-setting price developments in the dairy products sector. The next appointment will take place on Tuesday, March 19, 2024.

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