Shares in baby formula milk firm hit by new Chinese import rules

Shares in baby formula milk firm hit by new Chinese import rules
 

Shares in the baby formula milk firm Bellamy have plunged after a warning that new import regulations in China will cut into revenues.
The Australian organic formula maker has seen its shares slump more than 40%.
The company said that sales would temporarily be hit as the industry adjusted to new rules required by China's Food and Drug Administration.
China is a key market for manufacturers in Australia and New Zealand.
Long-term breastfeeding is rare among Chinese mothers. Those who can afford it choose to buy imported formula over Chinese brands.
Fears over dangerous levels of hormones... read more

 
2 December 2016 in Business, Views: 65
Source: BBC
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