Today, I spoke with the General Manager (@HanChenggang) of Canada Royal Milk, the Chinese-owned dairy processing facility in Kingston, Ontario. Here are the key points I learned: ➡️The plant indeed has an agreement with the Dairy Farmers of Ontario (@OntarioDairy) to process milk. ➡️The plant aims to export infant formula to the U.S. made with Canadian dairy milk by the end of this year, pending FDA approval. ➡️Approval for infant formula production could come soon, as CFIA (@InspectionCan) officials are scheduled to visit the plant this Friday. Health Canada (@GovCanHealth) has now approved the plant's product. ➡️This will be the only infant formula facility in Canada. ➡️Unlike previous reports, there are no plans to export products to China. Instead, the plant is focused on exporting Canadian-regulated and subsidized milk to the United States later this year. ➡️The first batch of infant formula, branded as NIURISS, will be processed this Spring, with the inaugural batch being donated to the @UnitedWay. ➡️Currently, the plant co-packs products for @groupe_lactalis, Canada's largest buyer of Canadian milk. ➡️The facility employs 177 people from 16 different nationalities, with the majority of employees being non-Chinese. ➡️Ottawa provided approximately $20 million in subsidies for the plant's construction, although not all funds have been received by the facility. ➡️In addition to dairy milk, the facility also processes goat milk for baby formula production under the CAPRISS brand. I extend my thanks to Canada Royal Milk for providing these insights. Hopefully, I have accurately conveyed the information.

If you're interested in facts, it's worth noting that our major grocers' gross profit margins over the last five years have remained relatively stagnant. See chart below. We should refrain from heeding the chorus of "record profits".