Source: China Customs
The slowdown in imports is consistent with lower recent demand from China. The trend also matches the typically seasonal buying curve.
The lower import volumes for July will assist any buildup of inventories to be worked through. A reduction in stocks which will in turn support prices.
In the coming months import volumes may remain at these lower levels as the recent weaker demand from this market begins to show in volumes shipped due to differences between contract and shipping time.
Imports of sklm milk powder and cheese have also remained comfortably above year-ago levels in July.
