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The IMF cut its GDP growth forecasts for most developing countries, lowering 2022 growth by 0.2% and 2023 by 0.5%. Chinese milk imports fell 24.4% in June, or 463,000 MT of milk equivalent, more than the decline in production among major exporters.
Exporters must now find other buyers for product previously destined for China.
The drop in Chinese import demand is the main driver of weaker global dairy prices, and it shifts export volumes to other markets. Lower GDP forecasts also trim Oceania dairy price expectations for 2022 and 2023.
hoards.comNate Donnay, StoneX Group Inc.1 ago 2022Tras 49 eventos bajista de comercio pasados, Leche (Clase III) se movió una mediana de -0,3 % en 5 sesiones (39% al alza; mitad central entre -4,7 % y +1,5 %), y -0,4 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Chinese milk imports fell 24.4% in June, reducing export demand and pressuring global dairy prices.
China's milk imports fell 24.4% in June, so exporters must find other buyers, which weighs on global dairy prices and sentiment.
Sharp fall in Chinese dairy imports leaves exporters seeking other buyers, a bearish trade-flow factor that pressures prices.
