Australia in talks with U.S. to supply infant formula

Australia in talks with U.S. to supply infant formula


Cans of infant formula sit on a scale in Sydney, Australia, on Tuesday, April 2, 2019.

Lisa Maree Williams | Bloomberg | Getty Images

Australia is in talks with the United States to supply baby food, an Australian government spokesperson said on Wednesday, after the apex U.S. health regulator relaxed its import policy to address a nationwide shortage.

Makers of baby food globally are exploring opportunities of supplying to the U.S. after the easing of import norms. Two million cans of formula from the UK are headed to American shores, while Bubs Australia struck a deal with the U.S. Food and Drug Administration (FDA) last week to supply 1.25 million cans.

Several dairy firms in Australia and New Zealand, including the world’s biggest dairy exporter Fonterra, were also in similar discussions with the FDA, Reuters reported on Monday.

“The Australian government will continue to work with the Biden Administration to confirm regulatory arrangements and facilitate exports of infant formula,” a spokesperson for Australia’s Department of Agriculture, Water and the Environment, said in an emailed statement.

“Australian Government agencies have been actively engaging with the Australian infant formula industry to help secure supply of infant formula to the U.S.”

The agency didn’t provide additional details on the extent of talks with the U.S. government.

Meanwhile, a spokesperson for New Zealand’s Ministry of Primary Industry said the country was “in a good position” to supply to the U.S. market and help them tackle the shortage.

He added that the decision to ship baby food to the U.S. rested exclusively with the manufacturers.



Source

China unexpectedly leaves benchmark lending rates unchanged after Fed’s jumbo cut
World

China unexpectedly leaves benchmark lending rates unchanged after Fed’s jumbo cut

The central bank of the People’s Republic of China is responsible for formulating and implementing monetary policies, preventing and defusing financial risks and maintaining financial stability. Peng Song | Moment | Getty Images China on Friday kept its main benchmark lending rates unchanged at the monthly fixing. Market watchers polled by Reuters had expected a […]

Read More
Japan’s Nikkei leads gains in Asia Pacific after Wall Street soars on Fed’s jumbo rate cut
World

Japan’s Nikkei leads gains in Asia Pacific after Wall Street soars on Fed’s jumbo rate cut

A Japanese flag is displayed as shoppers and pedestrians walk past stores at a shopping street in Tokyo, Japan, on Wednesday, Nov. 23, 2016. Tomohiro Ohsumi | Bloomberg | Getty Images Asia-Pacific markets opened higher on Friday with Japan’s Nikkei 225 leading gains, after Wall Street soared overnight following the Federal Reserve’s outsized rate cut. […]

Read More
This under-the-radar stock in Nvidia’s supply chain is a ‘hidden gem,’ Jefferies says
World

This under-the-radar stock in Nvidia’s supply chain is a ‘hidden gem,’ Jefferies says

One global stock stands out as a “unique play” in the Nvidia and artificial intelligence supply chain, according to Jefferies. It’s German semiconductor firm SUSS MicroTec , Jefferies said in a Sept. 17 report, calling it a “hidden gem” among European semiconductor firms. The stock also trades over the counter in the U.S. The investment […]

Read More