Have spoken to some people today in the infant formula industry,...

Have spoken to some people today in the infant formula industry, including manufacturers, other brands and some retail channels including Chemist Warehouse and friends who are daigous, looks like demand and sales are just not there. Market price is lower than ever, the local Daigous are not making much profits on the products, most cross border channels are a fraction of previous years during what is meant to be peak season. Product expiry date in the daigou market is 06/2022, which means its June production batch, meanwhile expiry date in pharmacy and grocery channel is 03/2022 (March production) with many of these stores not ordering for a long time now. This points to further accumulation of inventory and a desperate need to cut or halt production. The corporate daigous are also filled with stock with inadequate liquidity. So ground zero information doesn't look positive at all. I guess it's a reflection on many industries relying on China at the moment. As always DYOR.