That is one of the reasons why they are going off shore mate....

That is one of the reasons why they are going off shore mate. The margins for organic formula are 35% and if WHA start getting market share on the back of these penned Chinese sales, then A2m might have their own margins to worry about. I think the global market is plenty big enough for all the listed players.
I liken non organic milk powder to Forescue selling 58% iron at a discount where as Organic is like RIO selling 62% iron at a premium. It will always command a higher margin.