Macquarie outperform no downgrade $18.90 target, page-49

China has much higher production costs for "normal milk" and tremendous costs for milk from A2-cows. a2-milk is a big player in the market - and unfortunately we do not see the relief Chinese consumers have with the consumption of milk from A2A2 cows. I have been last year 2 times in China to get inside view of the dairy industry and believe me or not - in China the subsidies for dairy farms are now going to zero but there are subsidies for farming activities in foreign countries. A country which has to import almost 70 - 80 % of the cows feeding cannot close the doors so easy as many nervous investors believe. According to food intolerance network, the Chinese are 70 - 80 % lactose intolerant but most of them have no problems to drink a2-milk. The plan of the Communist Party is to boost the consumption of milk (cows, goats, sheep, buffaloes) in order zu stimulate the immune system. Can you remember the recommendation after Wuhan was hit by the Covid-19 virus? They said each Chines citizen should drink 300 mil of milk per day.....!

Our stupid western world governments are afraid to speak out such a recommendation because vegans & vegetarians could get upset...!

What we clearly see - Chinese government had a much better emergency management as most of the western societies!