Empty shelves of baby formula at CVS in San Antonio, Texas Source: Reuters/Kaylee Greenlee Beal
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • The US receives delivery of baby formula from Europe as the country attempts to ease supply chain disruptions of the product
  • In an attempt to fill shelves, the US turned to Nestle, which delivered 132 pallets of its infant formula to a US facility yesterday
  • The shortage of the product comes after one of the country’s top baby formula makers, Abbott Laboratories, closed its manufacturing plant due to a product recall
  • New York City is attempting to crack down on price gouging by declaring a state of emergency yesterday

The US has received a delivery of baby formula from Europe as the country attempts to fix a critical shortage.

In an attempt to fill shelves, the US turned to Nestle, which delivered 132 pallets of its infant formula to a US facility yesterday.

More shipments are expected to arrive in the next few days.

The shortage of the product comes after one of the country’s top baby formula makers, Abbott Laboratories, closed its manufacturing plant.

The company’s product was recalled as it faces an investigation from the US Food and Drug Administration (FDA) over reports of bacterial infections in four infants.

New York City Mayor Eric Adams has sought to prevent price gouging by declaring a state of emergency yesterday.

“This emergency executive order will help us to crack down on any retailer looking to capitalise on this crisis by jacking up prices on this essential good,” he said.

Meanwhile, Abbott is hoping to reopen its plant in early June, after which, it will take at least six weeks for products to reach store shelves.

More From The Market Online

Well below US$5K/oz, gold’s surefire status as a safe haven has shifted

In the post-COVID-19 world, it’s almost definitely news to nobody reading this that gold prices have staged a fairly historic run.
The Market Online Video

From the Wire: Why did the RBA cut last year just to walk it all back 12 months later?

The Reserve Bank of Australia made the call to hike interest rates again in CY26, using its second board meeting to bring them
ASX concept

ASX 200 reacts to an RBA 25bps rate hike by… closing somewhat firmly in the green?

Colour me surprised – the ASX200 successfully priced something in for once, with today’s RBA rate hike not scaring the market down into
India Russia flag

Not just AUKUS indexes: USA’s war on Iran visible on India’s NIFTY; Russia’s MOEX

While the Australian market is busy watching Wall Street, gold, and oil prices – and the prices of relevant stocks exposed to those