Word: milkings
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Before China's dairy industry imploded in a swirl of tainted products, milk was a cash cow. Investors flocked to buy stock from leading dairies Mengniu, Yili and Bright as a way to tap into the growing purchasing power of Chinese consumers and the country's rising dairy exports, which totaled $232 million last year. In rural China, poor farmers scrimped to buy cattle to boost their incomes, becoming part of the food chain serving the Chinese middle class's new taste for milk, butter and cheese...
...news has unfolded about how Chinese baby formula laced with the industrial chemical melamine has caused the death of four infants and sickened tens of thousands of others, milk consumption has fallen precipitously. Chinese supermarkets have cleared products from their shelves, but the crisis continues to spread beyond the country's borders. Dairy goods laced with tainted Chinese exports have been found in Taiwan, Singapore and Japan. A dozen Asian and African nations have banned Chinese dairy products. The European Union, which prohibits the import of Chinese milk, banned baby foods containing Chinese dairy products and said it will begin...
...Several Chinese dairies are suspected of negligence in allowing the distribution of tainted milk products. But investigators trying to find the actual source of the contamination have targeted distributors who buy milk from farmers and sell to the big dairies. These middlemen are likely to possess the technology necessary to adulterate raw milk. Police in central Hebei province have arrested 18 suspects, including two brothers who ran a milk collection station, the state-run Xinhua News Service reported...
SEPT. 16 Melamine is found in products from 22 powdered-milk companies, including Sanlu. Sanlu's general manager is fired...
SEPT. 23 Bans on Chinese milk products, including candy and ice cream, spread across Asia and Africa...