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Analysis and Forecast on China Dairy Industry (2015-2016)

By CnAgri 2016-01-08 10:06:03 Print Tel:861064402035 Email: [email protected]

Price: RMB 16000(English Version) RMB 12000(Chinese Version)

20160108100754218

Brief Introduction:

Basic Information:

Table of Contents:

Introduction

2015 was another important turning point in the history of China’s dairy industry. There was pacing up of the transition from extensive quantity growth to intensive quality and efficient growth, and there was the transition from unconventional unregulated growth to steady regulated growth.
 
Features of China’s dairy industry in 2015:
 
(1) China’s GDP growth was “larger than 7%”, the growth of food consumption slipped, whereas dairy processing companies were digesting their stock during most of the time.
 
(2) Raw milk production cost kept at a high level, but raw milk price kept on falling, dairy farming ran in deficit and some farmers had to give up dairy farming.
 
(3) Lots of dairy companies devoted great effort to exploration of the top-end market and reduced the production of medium/low-end products, which restrained dairy consumption to a certain extent.
 
(4) The development mode of dairy company’s “high input and high output” lost the comparative advantage in international competition. While the market is completely open, domestic top-end brands are at an inferior position in international competition.
 
(5) Quality and safety incidents involving dairy products seriously hurt consumers’ confidence on domestic made products (especially infant/young child’s formula milk powder), and such negative impacts sustained in 2015.
 
(6) Dairy farming would continue to be under close scrutiny of the public and the Government in food safety, epidemic control and environmental pollution, and more and more attention would be attracted from the media and the society.
 
China’s dairy industry shall still have sound development opportunities:
 
(1) Currently the per capita milk consumption of domestic residents is less than 20kg, less than 1/4 of the world average level, more and more residents gradually recognize the nutritious value of dairy products, hence the market shall have a huge potential in the future.
 
(2) The Government strengthens support and regulation on the industry, the processing industry is being disciplined, the competition of dairy market is becoming more orderly, and the margin of dairy processing has improved. 
 
(3) After the adoption of the two-children per family policy, the annual average net increase of population shall be larger than 3 million, hence there shall be 20 billion yuan increased demand for infant/young child’s formula milk.
 
(4) Lots of international dairy Titans are positive towards China, while intensifying market competition, they would also help to promote the upgrading of the domestic dairy industry to a certain extent.
 
(5) Yili became one of the Top 10 dairy enterprises in the world in 2015. Chinese dairy companies implement the “going out” strategy and the scale shall become larger and larger.
 
This Report panoramically expounds the current situation of China dairy industry in 2015, including the production of raw milk and dairy product, dairy consumption, dairy trade, price tendency of raw milk and dairy product, operational condition of China dairy industry, competitive situation of China dairy market, business performance and investment situation of key dairy enterprise, world dairy market trend, production, consumption and trade status of major countries of dairy production and trade, influence of work dairy market environment upon China diary industry, and the forecasting upon the development tendency of China diary industry in 2016.
 
This Report is the crystallization of collective intelligence of dairy research group of Beijing Orient Agribusiness Consultants Limited. The senior dairy analysts of dairy research group of BOABC are the members of “thinking bank” in related government departments and associations, who keep good relationship with these departments and associations as well as national key dairy enterprise, correlative industry and enterprise. These resource superiorities provide particularly precious professional support for the composition of this Report, and also guarantee the accuracy, authority, scientificity and perspectiveness of the data cited herein. BOABC believes this Report will be the important reference material for strategic decision-making of domestic and overseas investment company, dairy enterprise, dairy burdening supplier, and related equipment supplier as well as such organizations as guild and research institution.

 


Table of Content
Introduction.. 1
Chapter 1 Policy Environment for Dairy Industry in China. 12
1.1 Overview.. 12
1.2 Policy. 12
1.2.1 “Food Safety Law of P.R. China” 12
1.2.2 “Advertisement Law of P.R. China” 12
1.2.3 “Management Methods on Food Recall” 12
1.2.4 “Management Methods on Licensing Food Production” 13
1.2.5 “Management Methods on Licensing Food Operation” 13
1.2.6 “Management Methods on Registration of Infant Formulas (draft)” 13
Chapter 2 Raw Milk Production in China in 2015. 14
2.1 Overviews. 14
2.2 Dairy Cattle Farming Distribution. 14
2.3 Dairy Cattle Inventory. 15
2.4 Raw Milk Production and Milk Yield Per-Cow.. 16
2.4.1 Milk Yield Per-Cow Increased Slightly. 16
2.4.2 Milk Yield Increased Slightly. 18
2.5 Raw Milk Price. 19
2.6 Dairy Cattle Farming Cost and Profit 20
2.6.1 Dairy Cattle Farming Cost 20
2.6.2 Dairy Cattle Farming Profit 21
2.6.3 Comparative Analysis of Dairy Cattle Farming Cost and Profit in Major Provinces. 22
2.7 Scale & Models of Dairy Cattle Farming in China. 23
2.7.1 Dairy Cattle Inventory by Different Farming Scale. 23
2.7.2 Analysis of Dairy Cattle Farming Models. 24
Chapter 3 2015 Dairy Industry Analysis in China. 26
3.1 Production and Management of Dairy Industry. 26
3.1.1 Overviews. 26
3.1.2 Sales Revenue& Profit 26
3.2 Dairy Processing. 27
3.2.1 Liquid Milk. 27
3.2.2 Solid Dairy Products. 29
3.2.3 Milk Powder 30
3.2.4 Infant/young Child’s Formula Milk Powder 32
3.2.5 Other Solid Products. 32
Chapter 4 Trade of Dairy Products and Other Relevant Products in 2015. 33
4.1 Dairy Trade. 33
4.1.1 Change in Dairy Imports Volume and Value. 33
4.1.2 Changes in Dairy Imports by Categories. 33
4.2 Liquid Milk Import 34
4.2.1 Liquid Milk Imports 0.46 Million MT. 34
4.2.2 Liquid Milk with 1-6% Fat Content as the Major Import Category. 35
4.2.3 Imports from Germany and France up Greatly. 35
4.3 Milk Powder Import 37
4.3.1 Milk Powder Imports dropped to 0.55 Million MT. 37
4.3.2 SMP & No-Added-Sugar WMP Still as Major Import Categories. 37
4.3.3 Milk Powder Import Price. 38
4.3.4 New Zealand Originated Milk Powder down Significantly. 39
4.4 Whey Powder Import 39
4.4.1 Whey Powder Imports Rose. 39
4.4.2 Import Whey Powder Mainly from US. 40
4.4.3 Whey Powder Import Price. 41
4.5 Milk Fat 42
4.5.1 Milk Fat Imports down 11% from 2014. 42
4.5.2 Imports Milk Fat Mainly from New Zealand. 42
4.6 Cheese Import 43
4.6.1 Cheese Imports up 15% from 2014. 43
4.6.2 Imports Cheese Mainly from New Zealand, Australia and US. 44
4.7 Infant Food Import 44
4.7.1 Infant/young Child’s Formula Milk Powder Imports Volume Rose. 44
4.7.2 Import Infant Formula Mainly from EU.. 45
4.7.3 Infant Formula Import Price. 46
4.8 Dairy Related Products Import 47
4.8.1 Casein Import 47
4.8.2 Whey Protein Concentrate (WPC) Import 47
4.8.3 Lactose Anhydrous Import 48
4.8.4 Ice Cream Import 49
4.9 Dairy Farming Import 49
4.9.1 Cattle Frozen Semen Import 49
4.9.1.1 Change in Frozen Semen Import Volume & Price. 49
4.9.1.2 Frozen Semen Import Price by Original Country. 50
4.9.2 Dairy Cattle Import 50
4.9.2.1 Change in Dairy Cattle Imports. 50
4.9.2.2 Dairy Cattle Imports by Original Country. 51
4.9.3 Hay Import 52
4.9.3.1 Change in Hay Imports. 52
4.9.3.2 Change in Alfalfa Import Volume & Price. 53
4.10 Dairy Export 53
4.10.1 Overview.. 53
4.10.2 Structure of Dairy Export 54
Chapter 5 Dairy Consumption in China. 55
5.1 Overview.. 55
5.2 Analysis of Dairy Consumption by Urban Residents. 56
5.3 Regional Analysis of Dairy Consumption by Urban Residents. 57
5.4 Dairy Consumption by Rural Residents. 58
5.5 Changes in Dairy Products Prices. 59
5.5.1 Changes in Liquid Milk Products Prices. 59
5.5.2 Changes in Milk Powder Price. 59
5.6 Market Capacity of Infant Formula. 60
5.6.1 National 60
5.6.2 Cities in Different Regions. 60
5.7 Other Elements Affecting Dairy Prices. 62
5.7.1 Price for White Sugar 62
5.7.2 CPI 62
5.7.3 RMB Exchange Rate. 63
5.7.4 Petroleum Price. 64
Chapter 6 Competition of China’s Dairy Market in 2015. 65
6.1 Overview.. 65
6.2 Competition of Raw Milk Market 65
6.3 Competition of Infant Formula Market 65
6.4 Competition of Liquid Milk Market 67
Chapter 7 Key Dairy Processing Companies in 2015. 68
7.1 Overview Consolidation of Dairy Companies. 68
7.2 Key Companies. 68
7.2.1 Yili 68
7.2.1.1 Operation. 68
7.2.1.2 Strategic Measures. 69
7.2.2 China Mengniu Dairy Company Limited. 69
7.2.2.1 Operation. 69
7.2.2.2 Business Review. 71
7.2.3 Bright Diary & Food Co.,Ltd. 72
7.2.3.1 Operation. 72
7.2.3.2 Strategic Measures. 73
7.2.4 Sanyuan. 73
7.2.4.1 Operation. 73
7.2.4.2 Strategic Measures. 74
7.2.5 Beingmate. 75
7.2.5.1 Operation. 75
7.2.5.2 Strategic Measures. 76
7.2.6 Yantang. 76
7.2.6.1 Operation. 76
7.2.6.2 Strategic Measures. 77
7.2.7 Royal Dairy. 78
7.2.7.1 Operation. 78
7.2.7.2 Strategic Measures. 79
7.2.8 Modern Dairy. 79
7.2.8.1 Operation. 79
7.2.8.2 Strategic Measures. 81
Chapter 8 World Dairy Market in 2015. 82
8.1 Overview.. 82
8.1.1 Global Raw Milk and Processed Dairy Production. 82
8.1.2 Global Prices of Raw Milk & Dairy Products. 88
8.1.2.1 Raw Milk Price. 88
8.1.2.2 Price of Dairy Products. 89
8.2 Dairy Market of Key Dairy Producing and Trading Countries in 2015. 92
8.2.1 New Zealand. 92
8.2.1.1 Dairy Cattle Inventory. 92
8.2.1.2 Dairy Cattle Yield per Cow. 93
8.2.1.3 Milk Production. 93
8.2.1.4 Changes in Milk Price. 94
8.2.2 Australia. 94
8.2.2.1 Production of Milk and Other Processed Dairy Products. 94
8.2.2.2 Liquid Milk Production. 95
8.2.2.3 Dairy Cattle Export 96
8.2.3 America. 97
8.2.3.1 Production of Milk and Other Processed Products. 97
8.2.4 EU.. 99
Chapter 9 Outlook of China’s Dairy Industry in 2016. 100
9.1 Overview.. 100
9.2 Raw Milk Production. 100
9.2.1 Dairy Cattle Inventory to Reach 14.37 Million Heads, Raw Milk Output 38.0 Million MT. 100
9.2.2 Dairy Farm Margin to Be 3,000 RMB/Head. 101
9.2.3 Forecast of Dairy Farming Scale Development 101
9.3 Dairy Processing. 102
9.3.1 Main Varieties. 102
9.3.1.1 Dairy Output to Increase to 29.5 Million MT. 102
9.3.1.2 Liquid Milk Output to Increase to 26.5 Million MT. 102
9.3.1.3 Milk Powder Output to Stay around 1.47 Million MT. 103
9.3.2 Other Dairy Products. 104
9.4 Forecast of 2016 Dairy Products Import and Export 104
9.4.1 Import 104
9.4.1.1 Dairy Products Imports to Growing. 104
9.4.1.2 Milk Powder Imports rise to 0.6 Million MT. 104
9.4.1.3 Whey Powder Imports to Reach 0.45 Million MT. 105
9.4.1.4 Non-Fermented Liquid Milk Import to Reach 0.55 million MT. 106
9.4.1.5 Cheese Imports to Reach 85,000 MT. 106
9.4.2 Export 107
9.5 Price Trend of Raw Milk and Dairy Products. 107
9.5.1 Raw Milk Price. 107
9.5.2 Dairy Products Price. 108
9.6 Dairy Consumption. 108
9.7 Competition Pattern of Dairy Market 109
Attached Table. 110
 
 
 
Figures
Figure 2-1, Dairy Cattle Inventory by Province. 15
Figure 2-2, Change of Dairy Cattle Inventory in China, 1973-2015. 16
Figure 2-3, Dairy Cattle Inventory by Province in 2015. 16
Figure 2-4, Per-Head Raw Milk Output of Adult Dairy Cattle in China, 2005-2015. 17
Figure 2-5, Per-Head Raw Milk Output of Adult Dairy Cattle by Province in 2015. 18
Figure 2-6, Raw Milk Production in China, 1973-2015. 18
Figure 2-7, Per-Head Raw Milk Output of Adult Dairy Cattle by Province in 2015. 19
Figure 2-8, China Milk Price in Ten Biggest Region, 2010-2015. 20
Figure 2-9, Corn and Soybean Meal Prices in Major Milk Producing Provinces, 2010-2015. 21
Figure 2-10, Change of Raw Milk Price and Dairy Cattle Farming Profit in Major Milk Producing Provinces by Month,  2010-2015. 22
Figure 2-11, Change in Cattle Inventory Proportion of Different Farming Sizes, 2007-2015. 24
Figure 2-12 , Cattle Inventory Proportion of Different Farming Models in China in 2015. 25
Figure 3-3, Liquid Milk Output and Growth Rate in China, 2000-2015. 28
Figure 3-4, Area Distribution of Liquid Milk Output Production in China, 2015. 28
Figure 3-6, Solid Dairy Products Output and Growth Rate in China, 2000-2015. 29
Figure 3-7, Share of Leading Provincial Solid Dairy Production in National Total, 2015. 30
Figure 3-8, Trend of Milk Powder Production in China, 2000-2015. 31
Figure 3-9, Proportion of Provincial MilkPowder Production in National Total, 2015. 31
Figure 4-1, China Dairy Products Import Structure , 2004-2015. 34
Figure 4-2, China Fresh Milk Import Volume and Price, 2010-2015. 34
Figure 4-3, China Non-Fermented Liquid Milk Import Structure, 2004-2015. 35
Figure 4-4, Non-Fermented Liquid Milk Imports by Source Country, 2003-2015. 36
Figure 4-5, China Non-Fermented Liquid Milk Import Prices by Source Country, 2005-2015. 36
Figure 4-6, China Milk Powder Import Volume and Price, 2009~2015. 37
Figure 4-7, China Milk Powder Imports by Product Category, 2003-2015. 38
Figure 4-8, China Milk Powder Import Prices by Source Country,2006-2015. 38
Figure 4-9, China Milk Powder Imports by Source Country, 2003-2015. 39
Figure 4-10, China Whey Powder Imports and Growth Rate, 2003-2015. 40
Figure 4-11, China Whey Powder Imports by Source Country in 2015. 40
Figure 4-12, China Whey Powder Import Prices by Source Country, 2007-2015. 41
Figure 4-13, China Milk Fat Imports and Growth Rate, 2006-2015. 42
Figure 4-14, China Milk Fat Imports by Source Country. 43
Figure 4-15, China Cheese Imports and Growth Rate, 2006-2015. 43
Figure 4-16, China Cheese Imports by Source Country, 2004-2015. 44
Figure 4-17, China Infant Formula Imports and Growth Rate, 2009-2015. 45
Figure 4-18, China Infant Formula Imports by Source Country, 2009-2015. 45
Figure 4-19, China Infant Formula Import Volume and Price by Month, 2013-2015. 46
Figure 4-20, China Casein Imports by Source Country, 2004-2015. 47
Figure 4-21, China WPC Imports by Source Country, 2004-2015. 48
Figure 4-22, China Lactose Anhydrous Imports by Source Country, 2004-2015. 48
Figure 4-23, China Ice Cream Imports by Source Country, 2004-2015. 49
Figure 4-24, China Cattle Frozen Semen Import Volume and Value, 2005-2015. 50
Figure 4-25, China Dairy Cattle Imports, 2006-2015. 51
Figure 4-26, China Dairy Cattle Imports by Source Country in 2015. 51
Figure 4-27, China Hay Imports and Exports, 2006-2015. 52
Figure 4-28, China Hay Imports by Source Country, 2015. 52
Figure 4-29, China Alfalfa Import Volume and Price by Month, 2010-2015. 53
Figure 4-30, Structure of Dairy Export from China, by Volume, 2004-2015. 54
Figure 5-1, Per Capita milk and Dairy Consumption Quantity of Rural Residents, 2000-2015. 58
Figure 5-2, Change in UHT Milk and Yogurt Retail Price in China Whole Market by Month, 2013-2015  59
Figure 5-3, China Infant Formula Milk Powder Average Retail Price with Foreign and Domestic Brand, 2013-2015  60
Figure 5-4, Regional Distribution of Urban Infant Population and Infant Milk Powder Market Capacity (By Consumption Volume) in China’s Different Provinces and Regions, 2015. 61
Figure 5-5, Average Price for White Granulated Sugar (cargo delivery price in producing venues), 2010-2015  62
Figure 5-6, CPI Growing Trend in China, by Month, 2008-2015. 63
Figure 5-7, Trend of Exchange Rate between USD and RMB, 2008-2015. 63
Figure 5-8, Trend of International Petroleum Future Price, 2006-2014. 64
Figure 6-1, Whole Milk Powder Enterprises Number by Province, 2015. 66
Figure 8-1, World Milk Prices, 2012-2015. 88
Figure 8-2, Global Prices of Feed for Dairy Cattle, 2009-2015. 89
Figure 8-3, Global Average Milk : feed Price Ratio Trend, 2010-2015. 89
Figure 8-4, Global Prices (FAS) of WMP, 2012-2015. 90
Figure 8-5, Global Prices (FAS) of SMP, 2012-2015. 90
Figure 8-6, Global Prices (FAS) of Butter, 2013-2015. 91
Figure 8-7, Global Prices (FAS) of AMF, 2012-2015. 91
Figure 8-8, Global Prices (FAS) of Cheddar Cheese, 2012-2015. 92
Figure 8-9, Change of Dairy Cattle Inventory in New Zealand, 2003-2015. 92
Figure 8-10, Per-Head Raw Milk Output of Adult Dairy Cattle in New Zealand, 2004-2015. 93
Figure 8-11, Raw Milk Production in New Zealand, 2004-2015. 93
Figure 8-12, New Zealand Raw Milk Price, 2004-2015. 94
Figure 8-9, Change of Dairy Cattle Inventory in Australia, 1999-2015. 95
Figure 8-10, Export proportion of Australian, 2015.01-2015.06. 96
Figure 8-11, The number and proportion of China from imported Australian cows, 2015. 96
Figure 8-12, Trend of Average Milk Prices in USA, 2012-2015. 98
Figure 9-1, Forecast of 2016 China’s Dairy Cattle Inventory and Milk Production. 100
Figure 9-2, Forecast of 2016 Percentage of Dairy Cattle Farms with more 100 Inventories. 101
Figure 9-3, Forecast of 2016 China Dairy Output 102
Figure 9-4, Forecast of 2016 China Liquid Milk Output 103
Figure 9-5, Forecast of 2016 China Milk Powder Output 103
Figure 9-6, Forecast of 2016 China Dairy Imports. 104
Figure 9-7, Forecast of 2016 China Milk Powder Imports. 105
Figure 9-9, Forecast of 2016 China Whey Powder Imports. 105
Figure 9-10, Forecast of 2016 China Non-Fermented Liquid Milk Imports. 106
Figure 9-11, Forecast of 2016 China Cheese Imports. 107
 
 
 
Tables
Table 2-1, Feed Prices and Costs for Dairy Cattle Farming in Major Producing Provinces, 2012-2015  20
Table 2-2, Raw Milk Price and Dairy Cattle Farming Profit in Major Milk Producing Provinces, 2012-2015  21
Table 2-3, Raw Milk Price and Dairy Cattle Farming Cost & Profit in Major Milk Producing Provinces, 2014-2015  23
Table 2-4, The Division Standard of Different Cattle Inventory Sizes. 23
Table 2-5, Cattle Inventory Proportion of Different Dairy Farming Models in China. 24
Table 3-1, Development Indices of Dairy Industry, 2007-2015. 26
Table 3-2, Asset Management Ratio of Dairy Industry, 2007-2015. 27
Table 4-1 China Dairy Products Import, 2012-2015. 33
Table 4-2, China Milk Powder Import Volumes & Prices by Product Category, 2014-2015. 39
Table 4-3, China Whey Powder Import Volumes & Prices by Source Country, 2014-2015. 42
Table 4-4, China Whey Powder Import Volumes & Prices by Source Country, 2014-2015. 46
Table 4-5, China Frozen Semen Import Price by Original Country, 2011-2015. 50
Table 4-6, Dairy Export from China, 2014-2015. 54
Table 5-1, Per Capita Dairy Possession Quantity in China, 1992-2015. 55
Table 5-2, Share of Per capita Consumpion of Dairy Products in the Total Food Consumpion of Urban Residents, 2009-2015. 58
Table 6-1, Infant Formula Milk Powder Consumption Level Per Capita of China’s Urban and Rural Babies, 2003-2015  66
Table 7-1, Total Profit of Yili Group, 2011~2015. 68
Table 7-2, Core Business of Yili Group, 1st half of 2015. 69
Table 7-3, Core Business of Yili Group, by Region, 1st half of 2015. 69
Table 7-4, Total Profit of Mengniu, 2011~2015. 70
Table 7-5, Revenue of Different Products of Mengniu, 2014-2015. 71
Table 7-6, Profit of Bright Dairy, 2011~2015. 72
Table 7-7, Core Sector of Bright Dairy, half of 2015. 72
Table 7-8, Core Business of Bright Dairy, by Region, half of 2015. 73
Table 7-9, Profit of Sanyuan Foods, 2011-2015. 74
Table 7-10, Core Sector of Sanyuan Foods, half of 2015. 74
Table 7-11, Core Sector of Sanyuan Foods, by Region, half of 2015. 74
Table 7-12, Financial Situation of Beingmate, 2011-2015. 75
Table 7-13, Core Sector of Beingmate, half of 2015. 76
Table 7-14, Core Sector of Beingmate, by Region, half of 2015. 76
Table 7-15, Production & Business Benefits of Yantang Dairy, 2011-2015. 77
Unit: CNY million, %.. 77
Table 7-16, Core Sector of Yantang Dairy, 2015. 77
Table 7-17, Core Sector of Yantang Dairy, 2015. 77
Table 7-18, Financial Situation of Royal Dairy, 2011-2015. 78
Table 7-19, Core Sector of Royal Dairy, half of 2015. 79
Table 7-20, Core Sector of Royal Dairy, by Region, half of 2015. 79
Table 7-21, Total Profit of Modern Dairy, 2011~2015. 79
Table 7-22, Total Profit of Modern Dairy, 1st Three Quarters of 2015. 80
Table 8-1, Fluid Milk - Cow Numbers: Summary For Selected Countries, 2010-2015. 82
Table 8-2, Cows Milk Production and Consumption: Summary For Selected Countries, 2010-2016  83
Table 8-3, Top 20 Milk Processors List 2014. 84
Table 8-4, Butter Production and Consumption: Summary For Selected Countries, 2010-2015. 85
Table 8-5, Cheese Production and Consumption: Summary For Selected Countries , 2010-2015  86
Table 8-6, Nonfat Dry Milk Trade: Summary For Selected Countries, 2010-2015. 87
Table 8-7, Whole Milk Powder Production And Consumption: Summary For Selected Countries, 2010-2015  87
Table 8-8, Dairy Cattle Inventory and Milk Production in the US, 2011-2015. 97
Table 8-9, Dairy Production of USA, 2013-2015. 99
Attached Table 1, Forecast of 2015 Raw Milk Supply-Demand Balance in China. 110
Attached Table 2, WMP Supply-Demand Balance in China, 2011-2015. 110
Attached Table 3, SMP Supply-Demand Balance in China, 2011-2015. 111
Attached Table 4, Dairy Products Output by Province, 2008-2015. 111
Attached Table 5, Liquid Milk Output by Province, 2008-2015. 112
Attached Table 6, China Dairy Imports by Tariff Item, 2008-2015. 113
Attached Table 7, China Dairy Exports by Tariff Item, 2008-2015. 113
Attached Table 8, China’s Dairy Cattle Inventory by Province, 2009-2015. 114
Attached Table 9, China’s Milk Production by Province, 2008-2015. 115

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