Half baby formula bought from Aussie supermarkets being sent overseas
A senior Woolworths executive has admitted the company pays mere "lip service" to enforcing its four-tin limit on infant formula, aimed at safeguarding supplies for Australian families.
Fairfax Media can reveal half the infant formula sold by supermarket chains is shipped overseas to help meet soaring Chinese demand, providing more than $200 million of windfall sales for the big retailers.
Confidential industry data reveals that supermarket sales of infant formula have almost doubled, from $226 million in 2012 to $430 million in 2015. That figure is on target to break through the $500 million barrier by March, as Chinese demand continues to strip Australian supplies. Sydney Morning Herald – Read more…
Fairfax Media can reveal half the infant formula sold by supermarket chains is shipped overseas to help meet soaring Chinese demand, providing more than $200 million of windfall sales for the big retailers.
Confidential industry data reveals that supermarket sales of infant formula have almost doubled, from $226 million in 2012 to $430 million in 2015. That figure is on target to break through the $500 million barrier by March, as Chinese demand continues to strip Australian supplies. Sydney Morning Herald – Read more…
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