Executive Summary Chinese dairy import figures provided by GTIS were recently updated with values spanning through Dec ’17. Highlights from the updated report include:

• Dec ’17 total Chinese dairy import volumes increased 5.7% YOY, finishing higher for the seventh consecutive month. Total Chinese dairy import volumes finished at the second highest December figure on record, trailing only the Dec ’13 volumes.
• Dec ’17 Chinese whole milk powder imports declined 41.1% YOY to the second lowest seasonal figure on record, while Dec ’17 skim milk powder imports increased 6.4% YOY but remained at the third lowest seasonal figure experienced throughout the past seven years.
• Dec ’17 Chinese dairy imports excluding whole milk powder and skim milk powder remained strong, finishing up 20.0% to a record seasonal high.

Additional Report Details According to GTIS, Dec ’17 total Chinese dairy import volumes declined 15.4% MOM but remained 5.7% higher YOY, increasing on a YOY basis for the seventh consecutive month. Total Chinese dairy import volumes finished at the second highest December figure on record, trailing only the Dec ’13 volumes. Chinese dairy import volumes originating from the EU-28 continued to account for over a third of all Chinese import volumes experienced throughout the month, slightly outpacing the import volumes originating from within New Zealand. Dec ’17 Chinese whole milk powder (WMP) import volumes declined 41.1% YOY, finishing at the second lowest seasonal figure experienced throughout the past nine years, while Dec ’17 Chinese skim milk powder (SMP) imports increased 6.4% YOY but remained at the third lowest seasonal figure experienced throughout the past seven years. Chinese SMP import volumes originating from within New Zealand and the EU-28 each declined on a YOY basis throughout the month, however volumes originating from within the U.S. were over double the volumes imported during December of the previous year. Dec ’17 Chinese dairy imports excluding WMP and SMP remained strong, however, finishing up 20.0% YOY to a record seasonal high. Dec ’17 Total Chinese Dairy Imports Declined From the Previous Month Dec ’17 Total Chinese Dairy Import Volumes Down 15.4% MOM but up 5.7% YOY Total Chinese Dairy Import Volumes Finished at the Second Highest Dec Figure on Record Dec ’17 Chinese WMP Import Volumes Finished Down 41.1% YOY Chinese WMP Imports Finished at the Second Lowest Seasonal Figure in the Past Nine Years Dec ’17 Chinese SMP Import Volumes Finished up 6.4% YOY Chinese SMP Imports Finished at the Third Lowest Seasonal Figure in the Past Seven Years Dec ’17 Chinese Dairy Imports Excluding WMP & SMP Finished up 20.0% YOY Chinese Dairy Imports Excluding WMP & SMP Finished at a Record Seasonal High The EU-28 Accounted for Over a Third of the Total Dec ’17 Chinese Dairy Import Volumes Dec ’17 Volumes Originating From Within the EU-28 Increased Most Significantly YOY