BELLAMY'S DOWNSIDE RISKS, page-15

This is where i disagree, a brand is not a commodity...There is no branded iron ore? In fact a "brand' is the opposite of a "commodity"...

Why are there no other organic formula's in Australia? BAL now has scale and the financial might to offer long term contracts and essentially starve off the competition.

BAL is not an overnight success, they have been doing this for 10 years now...They where investing in organic when no one else was. It's a considerable moat...