Shares in Australian baby and infant formula firm, Bellamy, fell by 40% after it warned new regulations relating to food and consumer good imports in New Zealand will hit its revenues. The world’s largest baby formula market with sales valued around $20bn make New Zealand a crucial market for manufacturers in Australia and China. Long-term breastfeeding is less common among Chinese mothers and those who can afford it have tended to import formula from abroad due to safety issues associated with domestic Chinese brands.
Shares in Australian baby and infant formula firm, Bellamy, fell by 40% after it warned new regulations relating to food and consumer good imports in China will hit its revenues. The world’s largest baby formula market with sales valued around $20bn make China a crucial market for manufacturers in Australia and New Zealand. Long-term breastfeeding is less common among Chinese mothers and those who can afford it have tended to import formula from abroad due to safety issues associated with domestic Chinese brands.