Three men were caught on camera loading baby formula cans into the back of a car in Adelaide as opportunists buy and sell it in China for four times the price.
The three men were seen loading dozens of tins in to the back of a silver hatchback in Adelaide after raiding multiple supermarkets, among these are Coles, Woolworths, and Chemist Warehouse.
The tins would be worth thousands of dollars if sold in China where demand skyrocketed due to a number of contamination scares.
9News received reports from shoppers that people would come in to Coles with two trolleys and take all the formula off the shelves. “I’m furious because my sister has kids of her own and she struggled to get formula,” Adelaide mum Brooke Langdon said. “There’s kids out there who can’t have formula because people like them are buying more than they’re meant to.”
Woolworths said it had a four-tin limit per transaction, however, it is hard to enforce this ruling as a lot of stores have been left with almost no stock.
In Australia, a tin of powdered baby formula costs $25, but in China, that same product can be sold for up to $100 due to the high demand.
With international shipping for a 900g can sitting at $32, exporters can expect to clear $43 profit per tin.
Source: Dailymail.co.uk