Excerpt from a recent JPMorgan note:
"The China Dairy Industry Association believes that infant formula prices are still too expensive, making reference to the discrepancy between prices of certain key brands in Europe (€9-15/cRMB130, which implies cost of production at below RMB130) vs. prices of these brands also selling in China (RMB200-470)."
Baby drinks Topfer brand milk powder imported from Germany. I guess we pay around 300 kuai a box, which is three times the price we would pay in Europe. Small price to pay to avoid melamine poisoning.