China’s WMP imports in August were down 59% to 30,000t, albeit against record imports last year, as Chinese buyers increase their own manufacturing, relying less on GDT. The impact is less on SMP imports, which were down 2.4% in August to 33,000t, overtaking WMP imports for the first time. August cheese imports were down 10%, milk and cream down 22%. Imports of infant milk powder were up 23% to 27,800t, whey products up 1%, lactose imports were up 35% to a 12-month high, butter imports up 32% and AMF up 53% to a new record for the month. StoneX report that total milk equivalent imports were down 19%.
