⁍ New Zealand’s a2 Milk Co Ltd ATM.NZ said lockdown measures in the Australian state of Victoria hurt its corporate ‘daigou’ channel more than expected.

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⁍ The dairy producer estimates revenue for fiscal 2021 to be between NZ$1.80 billion ($1.18 billion) and NZ$1.90 billion, compared with revenue of NZ$1.73 billion in the previous year.

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– New Zealand’s a2 Milk is one of the world’s biggest dairy producers, and its main business is selling infant formula to people in China, reports Reuters. But the company’s revenue took a hit over the weekend when authorities in Victoria, Australia, put a stop to “daigou”—the practice of people in China buying products in bulk from stores outside of China and then importing them informally to the mainland. A2 Milk is one of the largest producers of infant formula in the world, and most of its revenue comes from sales in the US and Australia.