It's harder than you think.
The production of baby formula is very delicate, it's not something you throw money at it and you can multiple their production. It needed a lot of certification to have the production ramp up, this is not normal dairy production, and normal dairy production already have a very stringent rules
Put together the people (Not just Chinese) buying them and selling them back to the Chinese on Higher Price, which mean people who don't have kids would still buy them to trade for profit. It took 4 years from 2015 to 2019 to have the production stabilised. 2 months would not solve anything. And even today. Some local supermarket still have 2 tins per customer limit to deter people from buying unless you really needed it.
Here are an article back in 2015 about Baby Formula shortage
The extreme shortage of baby formula in Australia’s supermarkets, which has sparked panic and outrage among parents, has been blamed on China’s huge online shopping event, ‘Singles Day’.
au.finance.yahoo.com
Here is an article back in 2018 about the limitation still in place
It's an issue that won't go away.
www.mamamia.com.au
Just be glad this does not happen to you.......