Why the infant formula market is still so lucrative
Frantic scenes have been captured of shoppers stockpiling tins of infant formula at a Melbourne supermarket yesterday.
The footage was posted on the Coles Facebook page by a witness who was frustrated the shoppers at the Richmond store weren’t adhering to the four tin limit.
Coles responded to the post saying they were experiencing unprecedented demand.
Simon Hansford, chief executive of Powdered Milk Australia, said it was a symptom of the 2008 Chinese milk scandal.
He told Tom Elliott on 3AW Drive Australia’s manufacturing reputation was unrivalled.
“Since then because we’ve done a wonderful job over the last nine years or so it’s become even more popular,” he said.
“Australian exporting products are seen to be second to none in the world.”
He said the demand is growing and manufacturers are doing their best to keep up.
“The Chinese consumer feels even safer when their friends and family pack it up and send it over directly,” he said.
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