what has the EU/UK exit got to do with demand for A2M product.
my understanding is our weet-bix which retails in supermarkets for $5 (1.4kg) is selling in China for $50
The humble Australian breakfast favourite, Weet-Bix, is being snapped up by Chinese buyers for a staggering $50 a box.
Yes, you read that correctly.
According to reports China is the biggest export market for the cereal, and is currently facing a nation-wide shortage.
The Chinese hunger for Weet-Bix comes after the baby formula scandal which also saw nation-wide shortages, prompting the government to halt the product from illegally leaving the county.
The demand for Weet-Bix is so high, that savvy-sellers are capitalising on China’s appetite for the cereal, by selling it on website Yoycart, for as much as $50 a box (1.4kg).
Meanwhile, 1kg boxes are going at a hefty price of $37.
A remarkable mark-up considering a 1.2kg box sells for just $4.50 at Woolworths while a 1.4kg box can be picked up for just $5 at Coles.
The sellers on Yoycart have described the cereal as “Advance Australia Weet-Bix sugar cooked ready to eat cereal” and an “Ode to joy with breakfast”.
It is understood Australian shoppers are buying the product in bulk, with some reports claiming a Melbourne customer was seen using the self-serve check-out to by an entire trolley worth.
China is the world’s largest consumer market for food and beverages.
A2M Price at posting:
$1.63 Sentiment: Buy Disclosure: Held
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