China: Dairy and Products Semi-annual
Changing market conditions have led Post to make adjustments in dairy forecasts. Post forecasts China’s 2015 fluid milk production at 38 million tons, largely unchanged from the previous year, because of a slower economic growth, and falling domestic prices. Despite increasing fluid milk imports, U.S. imports are off more than 50% as a result of delays U.S. dairy plants are experiencing in gaining export approvals under China’s newly implemented registration process. Post forecasts whole milk powder imports to decline to 400 thousand tons, a decrease of 30% from last year as a result of large carry-over stocks from 2014. Imports of non-fat dry milk powder continue their upward trend supported by infant formula and milk beverage production.
