China is set to unveil subsidies and other support for five of its dairy companies to develop infant formula brands to compete against the foreign brands that dominate the premium end of Asia’s largest formula market, writes Lucy Hornby.
If successful, the policy, could create competition for companies such as Nestlé, Danone and Abbott Laboratories.
The move is a continuation of policies that forced dairy processors to invest in their dairy farms, after at least six infants died and 300,000 were sickened in 2008 after drinking formula contaminated with melamine. Farmers and middlemen added melamine to substandard milk to pass protein tests.
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