Dairy companies in Australia and New Zealand are queueing to restock empty shelves in the United States with baby food, after the country recently relaxed its import policy to mitigate one of the biggest infant formula shortages in recent history.
New Zealand’s dairy giants Fonterra and a2 Milk, and privately-run Australian firm Bellamy’s Organic confirmed on Monday they had submitted applications to the U.S. Food and Drug Administration (FDA) for supplying baby food to the country.
This followed fellow Antipodean firm Bubs Australia inking a deal with the FDA to ship at least 1.25 million cans of its formula. Shares in a2 Milk closed more than 10 percent higher, while Bubs Australia shot up 40 percent….