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NZ exports update May 18 & IF exports Analysis, page-8

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    As you can see this category with HS code 190110 is called "Food preparations; of flour, meal, starch, malt extract or milk products, suitable for infants or young children, put up for retail sale".

    Obviously A2 IF exports only accounts for part of these numbers. There might be other IF brands included also which I don't know the details (not helpful to your question @mina36). But I'm pretty sure IF takes a good share in this category, and A2 takes a good share among all exported IF. These numbers aren't directly reflecting A2's financials, but are quite relevant and can be utilised for analytical purpose IMO.

    Regarding decreased numbers, if you look at the last table carefully, you will find quite a few cases where it does happen. Marked up as below.
    exports3.JPG
    Reasoning...could be various we can only guess. Like the trend is more goods go to HK before entering mainland, so stats go to HK instead of China. Feb 18 and Jan 17 involve 2-week Chinese new year nobody cares about IF anyway. In Oct 18 China is overdosed with $85m goods so the numbers decreased quickily in the next few months. Seasonality could be another valid reason. etc, etc.

    Anyway If we look at these data sets in a longer time frame (i.e. FYs), and combine AUS, HK, CHN together, it's observed the overall growth looks pretty consistant and promising.
    Last edited by jzhuang: 27/06/18
 
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