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Chinese thirst for milk powering dairy producers Add to ...

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If you want to play the China commodity card, don’t invest in black gold, buy the white powder. Not that marching powder from the Andes, but body-building milk protein from Antipodean dairy cattle. Excitement about Chinese demand for milk has sent prices for milk powder soaring, high enough for Canada’s Saputo Inc. to make an eye-watering $515-million Australian ($498-million) offer for Warrnambool Cheese and Butter Co., a medium-sized Australian dairy producer.

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