Please don't take it in negative sense but how much profit margin is there in retail milk as compared to baby formulas or other high margin products.
I don't believe the retail sales have margins of even 1/3rd of baby formulas.
No doubt a2m is a brand and they are selling their product as hot cake on a margin but the biggest profit item is not staking up right now.
May be an FDA approval can increase the profitability but we still need Chinese sales to get where we were before pandemic.
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