Chinese milk production fell in 2024 for the first time in five years due to changing consumer preferences, according to a Yicai Global report, citing the China Dairy Industry Association.
Liquid milk production declined 2.8% year over year to 27.4 million tons during the year, Yicai reported on May 29.
Prior to 2024, milk production grew at more than 2% yearly for the past five years, Yicai said.
The top three companies, Yili (SHA:600887), Mengniu Dairy (HKG:2319), and Bright Dairy (SHA:600597), took a hit in their revenue, the report said.
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