Updated: May 23, 2022
Market Update: Baby Formula Shortage
In February 2022, a suspected contamination at the Abbott formula manufacturing plant in Michigan led to the closure of one of the largest formula production centers in the U.S.. The subsequent voluntary recall of potentially affected products has led to a wave of panic buying and empty shelves globally.
The shuttered Michigan plant is reported to provide one-fifth of infant formula in the U.S.. Due to this strain on production, countries that rely on the U.S. production of formula are feeling the blowbacks and other suppliers within the industry are limiting their exports until they get their own supply under control.
To manage the dwindling supply within the Cayman Islands, Foster’s is working with suppliers across our network to obtain new formula product as often as possible. However, this grows more and more challenging as global supplies tighten.
Sources within various global manufacturers have assured they are increasing production, but we do not yet have a specific date to share regarding this.
We will continue to pull product from our European vendors for the time being until U.S. supplies approach nominal levels and we may resume our trading.
Customers with questions regarding the formula shortage on essential items can speak to team members in store, email [email protected], or contact us on Foster’s’ and Priced Right’s social media channels (@fosterscayman & @pricedrightcayman).