Recently, US signed a Memorandum of Understanding with Beijing to facilitate exports of more than 200 American companies. At the same time, European Commission has reached an agreement with China to protect 100 PDO and PGI products.
New Zealand decreases its export’s share in ME.
Dairy products imported in the first five months of 2017 in China grew by 1.4% in volume on a trend basis and even by 23% in value, with interesting performances for cheeses in quantity and value (respectively +23, 8% and + 27.3%), infant milk formula (+ 25.8% and + 22.6%) and SMP (+ 11.8% in quantity and + 29.8% in value).
Chinese imports of bulk and packaged milk and WMP collapse. On the other hand, cheese and SMP imports grow; the SMP increase is probably linked to the lowest cost compared to the WMP (see chart).
The packaged milk decrease in imports and the higher local milk consumption (see chart) are likely to be attributed to the Chinese investments effect on food.
Cream positive trend continues, with over 30% average growth between January and May 2017. In May import accelerated strongly, around +90% on a trend basis.
Is this linked to the higher consumption of ice cream, spotted coffee or anything else?
|CHINA: dairy products Import year-to-date (May)|
|QUANTITY (Tons)||VALUE (’000 USD)|
|2016||2017||± on 2016||2016||2017||± on 2016|
|Infant milk formula||78.294||98.494||+25,8%||1.078.355||1.322.577||+22,6%|
|Milk and cream||259.691||219.715||-15,4%||257.832||261.883||+1,6%|
|- Bulk and pack. milk||226.072||174.023||-23,0%||168.606||133.949||-20,6%|
* Other products: Caseinates, Lactose Pharmaceutical, Yogurt and buttermilk, Condensed Milk, Lactose edible
Data processed by Clal based on GTIS source.
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