China's Skim Milk Powder Collapse Is Reshaping Asian Trade

China's skim milk powder imports sit at multi-year lows while Chinese dairy demand itself is still growing year over year. YiFan Li, StoneX Head of Dairy, Asia, joins Nate Donnay, StoneX Director of Dairy Market Insight, to explain what changed inside China's dairy processing base. Loss-making whole milk powder production pushed Chinese plants toward cream, butter and skim milk powder, and manufacturers reformulated onto liquid skim milk, leaving skim as a domestic byproduct. Butter and cheese imports across China and the rest of Asia tell the opposite story, lifted by bakery, milk tea, ready-to-drink and food service demand. The conversation also covers how buyers across the region are handling concern over Southern Hemisphere milk supply. Discover Actionable Dairy Insights with StoneX Plus: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_nate_donnay&utm_content=share 00:00 - China's Dairy Market Turns 00:41 - Demand Holds, Imports Don't 01:48 - Skim Milk Powder Hits Lows 03:12 - Butter Imports Keep Climbing 04:35 - Premium Brands vs Budget Buys 05:51 - Asia's Food Service Surge 07:21 - El Nino Puts Buyers on Edge Like and subscribe for more financial market insights. #Dairy #StoneX #YiFanLi --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social