One more, sorry.
http://www.********.au/2016/10/28/b...s-it-boom-to-bust-for-baby-formula-retailers/
"Retailers are no longer facing major shortages of baby formula;". Exactly right, they are getting cut out of the value chain for Chinese consumers, with the margin being divided by between the brand owners (BAL) the traders in China & consumers (lower pricing)
The IF business/ true demand is now a lot less visible from Australia. The clue will be in reported China segment sales…Watch it like a hawk.
Let's also not forget that 'major shortages' are a destructive thing for a brand like Bellamy's...It makes local parents angry and attracts the wrong type of media coverage.
Peace
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