The next CSL or COH or both?, page-7

https://www.livewiremarkets.com/wir...he-real-stock-tapping-the-infant-formula-boom

Davey expects DHA powder to fill at least half of the increased requirement, with Clover enjoying the benefit.

In the meantime, Clover supplies about half of the world’s global powdered DHA demand and it only has three competitors (Dutch groups DSM and FrieslandCampina and Germany’s BASF).

Clover also supplies most of the world’s infant formula makers with its niche product. Management has expanded the company’s client base from five to 50, so it doesn’t have to pick winners.

Having said that, one customer still accounts for 30 percent of revenue and four other customers speak for another 40 percent.
.......
But for raw materials supplier Clover, the opposite is true.

“The new licensed facilities and continued dairy investment in Australia and New Zealand provide Clover with opportunities to diversify its customer base and increase demand from China,” Select Equities says.