BAL's story with Walmart China, page-4

No, that's not correct. This is one thing a lot of people just don't seem to understand. BAL and A2M produce altogether different products and it's highly unlikely that a farmer will have a choice as to which company he supplies. That's why it's a mistake to consider BAL and A2M as competitors. Analysts and media commentators often don't understand this and therefore talk a lot of rubbish, but people who buy shares in the two companies should know the difference.

A farmer wanting to supply BAL has to be have organic certification, which takes about three years to get,. and this has nothing whatever to do with whether the cows are A2 or not. Most organic milk supplied to BAL will contain some A1 milk and therefore would not be acceptable to A2M, while A2M only accepts milk that contains no A1, but it doesn't have to be organic and I doubt if it ever is.

That's why BAL and A2M products should not be seen as competing. The only sense in which they are competing is that some confused people see it that way, simply because they are both high-quality products selling in the same market. Both are superior in their own way to the normal average-quality IF marketed by hundreds of other companies. They cater for different groups of consumers. Actually there's confusion among a lot of consumers as well, but that's not the issue facing farmers and shareholders.