Antipodean dairy firms set for strong weekly gains as cos eye baby food supply to U.S.

Nuchev

31/05/2022 05:28

** Dairy stocks in Australia and New Zealand are set to
notch their best week in several months, after the United States
recently relaxed import policy to help mitigate a severe infant
formula shortage
    ** Bubs Australia  BUB.AX , which plans to ship at least
1.25 million cans of its baby formula to the United States up
30% this week, set for its biggest gain since mid-Oct 
 urn:newsml:reuters.com:*:nL3N2XJ2OQ
    ** NZ's a2 Milk  ATM.NZ  up 11% this week, its biggest jump
since mid-Oct, while Fonterra  FCG.NZ  eyes its best week since
last Sept, after they both confirmed applications to the U.S.
Food and Drug Administration for supplying infant formula in the
country  urn:newsml:reuters.com:*:nL4N2XM137
    ** Shares of Australian Dairy Nutritionals  AHF.AX  on track
for its best week since March 2018  urn:newsml:reuters.com:*:nL4N2XN0HX
    ** Smaller peer Nuchev  NUC.AX  up 27% this week
    ** Other major dairy producers Synlait Milk  SML.NZ  and
Bega Cheese  BGA.AX  also notch weekly gains 
    
  

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))