Executive Summary Chinese dairy import figures provided by IHS Markit were recently updated with values spanning through Jul ’20. Highlights from the updated report include:

• Chinese dairy import volumes increased on a YOY basis for the 20^th time in the past 22 months during Jul ’20, finishing up 19.8% and reaching a record high seasonal level.
• Chinese whole milk powder import volumes declined to a four year low seasonal level during Jul ’20 however Chinese skim milk powder import volumes and dairy imports excluding SMP and WMP each reached record high seasonal levels throughout the month.
• The market share of Chinese dairy imports originating from within the U.S. increased most significantly from the previous year throughout Jul ’20, while the market share of Chinese dairy imports originating from within New Zealand finished most significantly below previous year levels.

Additional Report Details According to IHS Markit, Jul ’20 total Chinese dairy import volumes remained higher on a YOY basis for the 20^th time in the past 22 months, finishing up 19.8% and reaching a record high seasonal level for the month of July. 2019 annual Chinese dairy import volumes increased 13.7% on a YOY basis, reaching a record high level, while 2020 YTD import volumes have increased by an additional 6.9% throughout the first seven months of the calendar year. Chinese whole milk powder (WMP) import volumes declined 11.3% on a YOY basis throughout Jul ’20, reaching a four year seasonal low level, however Chinese skim milk powder (SMP) import volumes increased 2.5% YOY, reaching a record high seasonal level. Chinese dairy imports excluding SMP and WMP increased 33.1% YOY, also reaching a record high seasonal level. The YOY increase in Chinese dairy imports excluding SMP and WMP was the 12^th experienced throughout the past 13 months. The market share of Chinese dairy import volumes originating from within the United States increased most significantly on a YOY basis throughout the month of July, while the market share of imports originating from within New Zealand finished most significantly below previous year levels. The U.S. market share of Chinese dairy import volumes increased to 10.3%, up from the 7.2% market share experienced during July of 2019. Jul ’20 Total Chinese Dairy Import Volumes Increased to a Six Month High Level Jul ’20 Chinese Dairy Import Volumes Increased 12.3% MOM and 19.8% YOY Jul ’20 Total Chinese Dairy Imports Reached a Record High Seasonal Level Jul ’20 Chinese WMP Import Volumes Declined 1.0% MOM and 11.3% YOY Jul ’20 Chinese WMP Imports Declined to a Four Year Seasonal Low Level Jul ’20 Chinese SMP Import Volumes Increased 43.2% MOM and 2.5% YOY Jul ’20 Chinese SMP Imports Reached a Record High Seasonal Level Jul ’20 Chinese Dairy Imports Excluding WMP & SMP Increased 10.8% MOM and 33.1% YOY Jul ’20 Chinese Dairy ‘Other’ Imports Reached a Record High Seasonal Level NZ & the EU-28 Combined to Account for 74% of All Jul ’20 Chinese Dairy Import Volumes The Jul ’20 New Zealand Share of Total Chinese Dairy Imports Remained Lower YOY The Jul ’20 U.S. Share of Total Chinese Dairy Imports Increased Most Significantly YOY Chinese Dairy Imports From the EU-28 up the Most Over the Past 12 Months