After the devastating year of 2022 for Chinese Dairy imports, all eyes were and continue to be on 2023. Will imports improve?
Today, China has published May import data. The single month of May is pretty sound but the YTD May continues to suffer from the bad start of the year.
In May we see strong results in SMP, WMP, LACTOSE, AND WHEY. Combined, the import volume rose by 30,187 mtonnes.
May has been the first month in 2023 in which WMP import volumes were higher than in 2022.
Overall, the total May dairy imports have been 10.41% higher than in the same month 2022
Due to the strongly negative imports in January, however, the Year to Date May imports continue to lag by -6.54%
In May, the deficit in dairy imports declined from -1.07 billion kgs LME to -567 million kgs LME.
With that the Year to date total decline decreased by 47.11% compared to April.
Source : The Bullvine June 22nd 2023