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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 août 2022Après 49 événements commerce baissier passés, Lait (Classe III) a varié en médiane de -0,3 % sur 5 séances (39 % de hausses ; moitié centrale de -4,7 % à +1,5 %), et de -0,4 % sur 20.
Variations du benchmark de chaque matière depuis la dernière clôture avant l'événement. Les lectures historiques regroupent les événements passés de même nature ; elles décrivent ce qui s'est passé, pas ce qui arrivera. Ceci n'est pas un conseil en investissement.
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.
