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Danone SA (OTC:DANOY) has stepped up shipments of infant formula from Europe to address a shortage in the U.S., analysis of ocean cargo data by U.S. customs data and shipping consultancy Ocean Audit for Reuters shows.
Danone is the world's second-biggest baby milk formula maker but a relatively small player in the U.S.
It has shipped most of the product from Britain and the Netherlands by ocean freight through its Nutricia North America arm.
Also Read: Abbott's Troubled Baby Formula Michigan Plant To Reopen In 1-2 Weeks: Reuters.
Danone's Nutricia division more than tripled its ocean imports to North America between January and May. More than 90% were delivered to the U.S., said Steve Ferreira, CEO of Ocean Audit, which analyzed the data exclusively for Reuters.
Ferreira said his data showed that from January 1 to May 1 2021 Danone Nutricia sent nearly 770,000 cans of infant formula, filling roughly 100 cargo containers, to North America. This year's comparable period, the number skyrocketed to more than 2.4 million cans, he said.
"Abbott looks to have lost around 2000 basis points of share, going from 40% share to 20%," Barclays analyst Warren Ackerman estimated, referring to the U.S. market.
Reckitt Benckiser Group (OTC: RBGLY), the No.2 player in the U.S, told Reuters that it now accounts for more than 50% of the total baby formula supply in the country.
Photo via Wikimedia Commons
