Chinese imports drop by 12.6%

New Zealand dairy giant Fonterra’s published figures have shown a decrease of 12.6% for Chinese dairy imports year on year, according to the company. WMP fell by 50% in September. The country is said to be buying less due to drawing down of current stocks. China purchases about two thirds of the world’s trade in WMP and more than a third of the global fresh milk shipments. Experts say this will no doubt depress the global dairy prices further.