Chinese rules weigh heavy
DANONE / Danone reported its slowest third-quarter sales growth in more than a decade amid a slowdown in baby food, traditionally one of the company’s fastest-growing businesses. China has raised taxes on foreign infant formula sold online after concern over product safety created a boom in such purchases. Danone’s baby food production in Europe, which had benefited from that demand, is now slowing as retailers sell off inventory to adjust to the new regulations, which include a stricter registration process. Total sales fell to US$6.1bn. Bloomberg..
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