Powdered Milk Prices in China

China Powdered Milk Import Price in August 2022

In August 2022, the powdered milk price amounted to $4,649 per ton (CIF, China), declining by -2.5% against the previous month. Over the last seven-month period, it increased at an average monthly rate of +2.4%. The most prominent rate of growth was recorded in March 2022 an increase of 5.7% m-o-m. The import price peaked at $4,768 per ton in July 2022, and then dropped modestly in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was Australia ($6,134 per ton), while the price for Belarus ($3,496 per ton) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by Sweden (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

China Powdered Milk Import Prices by Type

Prices varied noticeably by the product type; the product with the highest price was dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) ($10.8 per kg), while the price for dairy produce ($4,380 per ton) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by dairy produce; milk and cream, concentrated or containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content not exceeding 1.5% (by weight) (+3.4%), while the prices for the other products experienced mixed trend patterns.

China Powdered Milk Imports

In August 2022, approximately 63K tons of powdered milk were imported into China; shrinking by -2% against the previous month. Overall, imports saw a abrupt decrease. The most prominent rate of growth was recorded in July 2022 when imports increased by 8% m-o-m. Imports peaked at 277K tons in January 2022; however, from February 2022 to August 2022, imports stood at a somewhat lower figure.

In value terms, powdered milk imports dropped modestly to $293M (IndexBox estimates) in August 2022. Over the period under review, imports faced a deep reduction. The pace of growth was the most pronounced in April 2022 with an increase of 9% month-to-month. Imports peaked at 1.1M tons in January 2022; however, from February 2022 to August 2022, imports failed to regain momentum.

China Powdered Milk Imports by Type

Dairy produce (33K tons), dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (30K tons) and dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (104 tons) were the main products of powdered milk imports to China.

From January 2022 to August 2022, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by dairy produce; milk and cream, concentrated or containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content not exceeding 1.5% (by weight) (with a CAGR of -5.2%), while imports for the other products experienced a decline.

In value terms, dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) ($148M), dairy produce ($144M) and dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) ($1.1M) appeared to be the most imported types of powdered milk in China.

China Powdered Milk Imports by Country

In August 2022, New Zealand (32K tons) constituted the largest powdered milk supplier to China, with a 50% share of total imports. Moreover, powdered milk imports from New Zealand exceeded the figures recorded by the second-largest supplier, Australia (8.6K tons), fourfold. The third position in this ranking was taken by Belarus (4.4K tons), with a 7% share.

From January 2022 to August 2022, the average monthly rate of growth in terms of volume from New Zealand amounted to -25.7%. The remaining supplying countries recorded the following average monthly rates of imports growth: Australia (-2.7% per month) and Belarus (+29.9% per month).

In value terms, New Zealand ($143M) constituted the largest supplier of powdered milk to China, comprising 49% of total imports. The second position in the ranking was taken by Australia ($53M), with an 18% share of total imports. It was followed by the United States, with a 6.3% share.

From January 2022 to August 2022, the average monthly growth rate of value from New Zealand amounted to -24.2%. The remaining supplying countries recorded the following average monthly rates of imports growth: Australia (+1.2% per month) and the United States (+12.0% per month).

Source: IndexBox Market Intelligence Platform