
Future Food šļø: How Stockeld Dreamery is making 'the world's most ambitious cheese'
The vegan cheese of the early 2000s and before is one of those products that never quite lived up to expectations.
āOh, itās not that bad. You can just cut away the brown edges or whatever ends.ā
It didnāt taste quite right; the texture was nearly always off; and it couldnāt melt in the same way as animal-derived cheeses when put under the grill. Perhaps least appealing of all was the unshakeable sense of eating something that was heavily processed; disconcertingly often āplasticā was the word that came to mind as you chomped down on a piece of vegan cheese. But things are beginning to change thanks to the recent innovation explosion around plant-based protein ā including āanimal-freeā dairy alternatives.
Sweden has produced one of alt-dairyās biggest names ā the plant-based milk brand Oatly, which some pundits are now valuing at as much as $10 billion as it prepares for its New York IPO. Another Swedish startup diving into the alt-dairy game is Stockeld Dreamery.
Unlike Oatly, itās focusing on cheese, and hahas just launched its first product, Stockeld Chunk, in retail stores and restaurants in the Nordic country. Stockeld Chunk is the result of over two years of R&D, and is manufactured through a fermentation process using peas and fava beans. āInspired by Greece and made in Sweden,ā according to the startup, the end product has āa familiar acidic and salty taste, with a rich, smooth and crumbly textureā akin to Greek feta.
Formerly known as Noquo Foods, Stockeld Dreamery was founded in Stockholm in 2019 by tech entrepreneur Sorosh Tavakoli and food scientist Anja Leissner. AFN chief editor Louisa Burwood-Taylor (LBT) recently sat down with Tavakoli (ST) to taste-test Stockeld Chunk and record the latest episode of the Future Food podcast.
You can listen to the audio below or on your favorite podcasting app. Or you can read the transcript below to find out more from Tavakoli on why he launched Stockeld, the wonders of fermentation, and the unique challenges of creating what he describes as āthe worldās most ambitious cheese.ā
LBT: Thank you so much for joining me today, Sorosh. So where are you right now?
How would you describe your relationship with food? Are you a big eater?
Do you eat for survival? Whatās your favorite food?
ST: I am in Stockholm right now and I like food and I eat a lot of food, and Iām also the rubbish bin in my household. Every household has that one person who eats everyone elseās leftovers.
So Iām that person. Iām always innovative with whateverās going bad. āOh, itās not that bad.
You can just cut away the brown edges or whatever ends.ā But I really like food. LBT: Any food that you just will never eat, either for personal reasons or because you just hate it? ST: Iāve stopped eating meat a while back.
I just felt ⦠Trying to stay away from it from an ethical perspective. I didnāt want to go fully vegetarian, but then nobody respected me for that.
So wherever I went, they were like, āAh, but you eat meat, right?ā And then thereād be a big steak. I was like, āI do.
But I donāt actually want to eat much of it,ā so I felt I had to just put that vegetarian label on me. So people would adapt a bit when I go meet them. LBT: Oh, wow.
So you felt pressure for that? Or it was a direction you were going? ST: Like you go to a barbecue and all they do is meat, and thereās a bit of vegetables.
You canāt go eat all the vegetables. Thereās nothing left for the rest. But now when they do a barbecue, they do a lot of vegetables so I can happily eat the vegetables.
But itās hard. I donāt mind having a bit of meat every now and then, but itās also then I lose my face a bit.
So I sneak doing that. Working with food, I donāt want to be handicapped. I definitely eat cheese.
I eat lots of cheese. I feel itās important that I can eat cheese.
LBT: Well, so youāre a reduceatarian, a flexitarian, but a very hardcore reduceatarian. More on the production side than the other side. ST: For sure.
I would go that far actually. What made you come into food?
ST: Oh, wow. I was looking for a big problem to solve with my second company. So I really took my time, and then I wanted to do something good for the world.
First I had to figure out what is good and the people who do the best good, what are they doing? It was a long journey for years that took me to the food industry pretty quickly. I looked at microalgae and duckweed for about 10 months before deciding to not do that and focus on the protein shift and specifically cheese.
Itās a huge problem. 4% of global emissions come from the dairy industry, and thereās just lots of waste of resource. Thatās how I ended up in cheese.
I was looking at whatās happening. We have to shift our diet towards a more plant-based diet. Everybody agrees with that.
People understand that, people are trying to shift, people are trying to reduce to various degrees. But then theyāre very limited to the alternatives available to them as theyāre trying to shift. Where there are good products, the shift happens, and where we donāt have good products, like cheese, we donāt bother.
We stick to the old products, animal animal-based products. But itās kind of like we stick to them despite them being made from milk that comes from an animal. The question is just, what would it take to make better products?
No oneās really tried to make a better cheese. LBT: Yeah, itās interesting because alternative meats have been around for ages. I live in the UK.
Weāve had a company called Quorn thatās been at it for years. Veggie burgers and stuff has been kind of in our vernacular, but a plant-based cheese is definitely something a lot more rare. I think Miyokoās Kitchen in the US, they were everywhere.
So itās interesting. For me, I eat a lot of cheese and feta, which is quite similar to the product weāre going to talk about today. I would never have thought to kind of replace that and do something different if I wanted to make salad with it or whatever.
So itās definitely a new category. But did you consider alternative meats or alternative milks or anything like that?
ST: I was never interested in meat myself. As I had less and less meat, I didnāt want to have fake meat.
I was looking for other products too. I was really into tempeh. I thought it was a fantastic meat replacer, but not a meat imitator.
So I was never interested in that. But cheese, I mean, yogurt, my God, itās terrible, plant-based yogurt.
The milks are great. I mean, lots of variety, full of flavor. The only thing with the milks is the price.
I mean, theyāre still like twice the price of cowās milk, but it seems to not be an issue. I mean, the market is growing really, really fast.
LBT: Yeah. Yeah.
So you mentioned algae and duckweed, and Iām super fascinated by this space. I think it is going to blow up at some point. But why did you not go into that?
ST: I would say it was almost like a personal decision. I realized you need to do lots of work on the growing systems, cultivation systems. You have to create mono-cultures eventually.
So you want only your, if you grow duckweed, you donāt want algae to grow in your water. You need to then take this plant, which is green, itās a leaf basically, and you need to extract the protein and more importantly, actually extract the color out of it because nobody wants a green protein.
And then make it taste neutral, and itās just a long journey. First figure out the cultivation, then figure out how to make it useful, and you also want the proteins to be functional for them to be useful. Thereās just so many things to do.
Also duckweed is a novel food in Europe. Swedenās a terrible place to grow food. You can grow it half of the year at best.
So there was a lot of things that I was just like, āNow I know exactly what I need to do, and I donāt want to do it.ā [ā¦] And I was like, āWhy limit myself to one ingredient?ā I felt it was much more compelling to have access to all the tools in the world, all the ingredients and that way be able to create better products. But also I felt thereās a huge need in kind of better packaging or presentation of the product where all of the products were vegan and weāre free from, and weāre not this, and weāre not that.
Very little about what they are. I think beyond Miyokoās there is no other brand that I think anyone give a shit about to be honest.
Like the product, one or two. LBT: Right.
So Iāve got Stockeld Chunk here, and Iāve been trying it and tasting it. It is delicious.
So as I said, itās like a feta, but itās not a feta. Tell me a bit about the thinking.
Why is this your first product launch? Iām going to eat some now. ST: Yes.
So excited to send you cheese. So weāre launching the product next week.
I donāt know when youāll publish this. But yeah, weāre super, super excited.
Weāve been in R&D mode for about two-and-a-half years. Weāve developed this kind of protein technology platform that allows us to do a lot of things.
The first product coming out is the Chunk, which is a salad type cheese, a feta cheese alternative you could say, as in it should be used in a similar way to as you do with a salad or a feta. But itās not meant to give you the full flavor experience as a feta.
So itās kind of honest to its own flavor, but functionally in the texture and the use cases are meant that way. So weāre super, super excited about the product [ā¦] I have to say weāve done ⦠Confidently, weāve done more than 1,000 iterations. I think weāve had over 40 chefs involved in the process whoāve been trying early on spitting it out every now and then.
The chefs are very honest. Theyāre not out to please you.
So the feedback has been very honest and consistently improving. Even in November, December, I honestly had a lot of doubts around the product.
Is it good enough? [ā¦] Something happened in February as we really nailed the production in our facility where the feedback started to turn dramatically. We also went a bit more into launch mode, and the last 15 meetings, every single chef has said, āThis is great.
I want to put it on my menu.ā Itās just been like not being able to fake the feedback. So weāre very excited about the product.
Also, when you ask chefs kind of like, āWhat would you do with it,ā itās all over the place. Theyāre full of ideas of how to use it in different contexts.
LBT: What changed in February? ST: I think it was just the continuous optimization that weāve been doing on the product, and we have some further optimization weāre doing now as well.
I realize maybe we should talk about also what the product is made of and kind of what it is. So itās the fermented cheese made from pea and fava protein, and itās nutritionally very equivalent to feta cheese. So it has about 13% of protein, it has almost no carbs, and itās about 20% fat.
So weāre super excited about the nutritional composition. Itās also being fermented.
It has live microorganisms in the product as well. We have seven ingredients in total.
LBT: Tell me about your discovery process, because I think this might be⦠Some of the companies in the space have their secret sauce. How did you pick your ingredients?
I guess pea protein is not a crazy idea. Lots of different alternative protein companies are using it, but how many different ingredients did you trial with and what was the discovery process?
ST: Yeah, I mean, weāve done some, letās say, basic research while also developing the product. So weāve screened more than 500 proteins in this process.
So weāve really been looking at how to functionalize them, what their molecular kind of interactions are. Eventually itās about kind of building ⦠If we go into nerd mode ⦠How do you create a matrix where the protein is the key component, or letās say the scaffolding that keeps things together?
And then eventually makes a complete food system where you have fat, water, starch and other components kind of come in [ā¦] Then you want to, in our case, after creating cheese-like characteristics, we want to mimic casein behavior, but also the complete food system. The milk fat is also quite unique. So then itās about kind of picking which cheese youāre after and what characteristics, and the key challenge is in the texture.
Thatās where weāve been spending most of our time. Thatās also, frankly, what weāre the most excited about having achieved.
Now with this technology, weāre deploying it to make a cream cheese, and we have other cheeses in the pipeline coming next year as well. So the cream cheese will actually also be launched this year.
LBT: So the texture is harder than the flavor. ST: Yes. LBT: Why is that?
ST: Because you can always kind of, thereās a lot of work you can do on the flavor. The flavor is maybe you can say the flavor is dead somehow while the texture is, itās dynamic. The functionalized ingredients and proteins that keep it together.
Maybe you can think of something like you can have dead powder of something and it wonāt do anything. You mix it with water, whatever, it wonāt do anything. But the whole trick is like how do you make these proteins really functional to hold, letās say, if you think of a feta, so it can be dense enough, so it can crumble just in the right way.
You donāt want it to be like a jelly. You definitely donāt want it to be like a Nutella [ā¦] You also want that authentic crumbliness, which is dynamic and kind of a bit irregular and not homogenous. So thereās a lot of things to figure out with that.
And also you canāt fool the mouth as much as it comes to texture and the mouth feel, how it coats your mouth and all the different phases when itās mixed with your saliva, when you swallow, all these different components. The mouth is pretty good at detecting fake. I think you have that a lot in the vegan cheeses today.
The flavor sometimes like, āWow, this is kind of cheese,ā but then it just, boom, itās gone. It doesnāt stay in your mouth or it doesnāt continue. LBT: Well, it definitely crumbles like a feta.
So you definitely nailed that. Tell me a bit about the process then. Actually, I was going to follow up and say, I guess you want to get all that texture without putting loads of crazy other ingredients in, right?
ST: Exactly. Thatās also where fermentation comes in.
So itās a fermented product. What cultures do you use?
For example, if you try the product pre-fermentation and post, itās like you canāt even taste it before itās fermented. It just tastes like pea protein. Lots of off flavors.
So thereās a lot of stuff happening in that as well that is really interesting and important because that the flavor, itās hard to make it neutrally flavored. Uou can make something with great texture, but it might have tons of off flavor, especially if you have a high protein content, as we do. 13% is unheard of in the world of plant-based cheese today. I think a big part of that is because these proteins have so much flavor that you just canāt work with, so you have to tone it down.
Thereās a lot of work weāve done in that as well, making sure that it has a really nice flavor. LBT: How have you managed to put more protein in and deal with that flavor?
Is there some secret sauce here that you want to be cagey about? ST: No, but I mean, Iām trying to stay very conceptional and say common sense things.
Obviously, weāve just filed our first patent regarding this product as well, and obviously thereās lots of IP that goes into this technology platform. LBT: Itās IP around the process? Itās IP around how you ferment-
ST: All of it. LBT: Itās IP is around the ingredients?
ST: All of it, I would say. Yeah. LBT: Being very tight-lipped.
ST: I mean, weāre all about R&D. Weāre upset about cracking this and we have an R&D team of six people now, and theyāre working hard day and night.
So obviously we want to make sure that we can make the most value out of that. LBT: Youāve expanded your R&D team recently, havenāt you? ST: We have, yeah.
I mean, the whole companyās kind of exploded. We were three people in August, and we are 13 now, so in less than a year. Then weāre going to be close to 25 by the end of the year.
All cylinders are running right now. LBT: How do you prioritize which teams to expand over others?
I mean, it sounds like itās growth on all levels, but where do you kind of have extra people? ST: Yeah, it used to be all R&D because we didnāt have a product, but then as the product was getting ready, we needed production.
Heās had 13 years of experience in food production, and heās run a chocolate ⦠Heās our Willy Wonka. So super fortunate to have him on board.
Then now just in the last two months, weāve had our head of sales join, a head of marketing, and also Daniel joined us on the special projects and strategy. But then honestly, weāre also investing a lot in people operations and HR given how fast weāre recruiting.
So you also need to build the structures around the company as youāre growing so fast. All these people need a laptop and a phone. Thereās all these things around it as well.
LBT: Yeah. Youāve got to look after them.
What is your go-to-market strategy? Is it restaurants?
ST: Yeah, we start with food service, and weāre trying to be really thoughtful around the brand. Also, I mean, we have to crawl before we walk and run and all that stuff because we still havenāt sold a kilo of cheese.
We were humble as it comes to production. Two weeks ago, we had a failed batch at production, which was supposed to be sold. Thatās why actually the batch you got is five weeks old.
Things like that will happen. So we donāt want to go crazy from the get-go.
Weād rather go with a few restaurants. Weāve lined up now two restaurants or itās one restaurant and a bakery that weāre launching with where theyāve made special dishes with the product [ā¦] We also have Stockholmās best cheese store and wholesaler, which weāre really, really proud of.
They have 400 to 500 cheeses at any given point of time. Theyāve had one vegan cheese three years ago that they didnāt eventually think was good enough.
They were over the moon when they got to try the Stockeld Chunk. The owner there, he said, āWell, wow, if Iād been in Asia and they would have served me this cheese, I wouldnāt have doubted one second that it was made from milk.
But obviously, flavor-wise, itās not fully what Iām used to,ā but they think itās a great product. He also said, āIām confident we will provoke some of our customers who will come in and say, āthis is not cheese.'ā Weāre excited to have them on board and get that kind of validation, which again is ⦠Cheese is very special. Thereās 10,000 different cheeses in the world [ā¦] So thereās not this one cheese to mimic.
You also have craft that goes into cheese. We want to be respected as a real cheese, but I donāt think oat milk really wants to be respected as a real milk.ā Because that definition in a way is that it comes from an animal and the same goes for meat.
I donāt think that the plant-based meats want to be respected as a real meat. But we want to be a real cheese.
We want people to think this is a new cheese and it has its own characteristics and flavor, and I really enjoy it for what it is. And thatās where not faking it, just making it comes from.
Weāre not trying to fake some other cheese. Weāre trying to just make great cheese products.
LBT: Interesting. I mean, I actually think Impossible Foods does want to be called a meat.
Theyāve got this new ad campaign ⦠I donāt know if youāve seen it and itās all some Southern accent saying, āThis is meat made from plants.ā Terrible impression, but theyāre very much drumming home the meat phrasing, the meat word, which is interesting. That kind of gets into the whole, can you call it these things. Are there any lobbies in Sweden around using the word cheese?
Because in the US thereāve been various different states that have banned the word āmilk,ā for instance, for marketing plant-based alternatives. ST: Yeah.
Unfortunately we have the Amendment 171. 171, which is all about trying to protect the dairy industry and what theyāve built over the many years and kind of not have us new companies that come with other ingredients infringe on their kind of IP or the brand- LBT: The brand, yeah. ST: That theyāve built.
Thatās all about. I know thereās lots of lobbying going on, on both sides, obviously of this. Iāve read the draft, and itās super vague, what it actually means.
I think it will all come down to how it will be interpreted and put in effect into law. So weāll see how that goes.
For now, I think you can say vegan cheese or plant-based cheese. You can put that on the package, but just knowing that you might have to change your mind [ā¦] But weāre not going to use the word cheese. I mean, we use the word cheese on, I mean, Iāve said it 200 times already in this conversation, and weāre using it on the website in terms of our ambition.
Our first vision is to create the worldās most ambitious cheese, and you canāt take our ambition away from us. The way we define the worldās most ambitious cheese is something that is tastier and more nutritious, something that is preferred by top chefs and restaurants, a cheese thatās very resource efficient, constantly using less and less.
Be smarter with the resources. And a cheese thatās available for all, so not a premium product as such. Thatās what gets us up in the morning.
LBT: Yeah, right. So I want to dig in a little bit more to the ingredients, in particular about the pea protein.
There are some question marks around the sourcing of some of these core ingredients, not the least because thereās been at times some scarcity and thinking in terms of pea protein, but also how that pea is grown and so on. How far up the supply chain do you go? Do you literally just purchase pea protein powder?
Or is there something you do with it before yellow pea? Just tell us more about the pea. ST: With kind of sustainability being kind of at the core of our why, we do have lots of debates internally as to what is important, what is important when, and how important is it, et cetera.
Obviously the ingredients are very important for us. The key focus that we have is to remove the milk, which is the really resource intensive ingredient [ā¦] So the second step is to create a very, very good product that people actually want to eat. That tastes good.
That has the right appearance, flavor, all these things. Then obviously the ingredients are important.
Weāve obsessed on science trying to get down the recipe to as few ingredients as possible, as simple processing as possible [ā¦] Weāre using pea protein and fava protein. We buy the powder. So far we havenāt been very sophisticated as it comes to sourcing.
Weāre working with suppliers, weāve talked to plenty. Weāre trying to source ingredients from Europe given that we are here, but we also have global ambitions. Weāre not necessarily trying to be too Swedish.
That said, every Swedish chef and purchasers, theyāre always like, āWhat ingredients are Swedish?ā Weāre kind of trying to navigate that and being clear about we do have larger ambitions than Sweden and frankly, today there is no Swedish pea protein. There is no Swedish fava protein.
Thereās Swedish peas, and I think thereās some people growing fava. Even on European basis, thereās no fava that is processed in Europe. We found one tiny provider, but they canāt really offer scale.
Thatās a shout out to the listeners. If you have European grown and processed fava protein, weād be very interested in that. So the pea comes from, I think itās both from North America and Europe, but itās processed in Europe.
LBT: Okay. I mean, I presume a lot of that infrastructure is going to build out with demand in all the alternative space.
ST: So many things are happening in that space. So very, very excited to see where that goes. Also, as we increasingly grow food for humans and not for animals.
Hopefully farmers can also make more money doing that. So, very excited to see where that goes.
LBT: So where next after Sweden? ST: I think the second and third market, weāre debating between Germany and the US.
I love the pod you did with the woman from Eater, whoād done this long, super long article about plant-based cheese. I spent a ton of time in the US, and weāve had cheese from all over the world. Thereās just no good product anywhere [ā¦] She summarized it as the three categories.
The flavored fat as she called it, coconut oil and starch. We call that category, which is like 80% of the market. And then you have the nut based at scale, which is maybe Kite Hill and youāll have Simply V does some of that in Germany, but then you have, obviously Miyokoās thatās based on nuts.
And then you have the super crafty, delicious, handmade dessert cheeses that are made also almost exclusively on cashew, but also can be other nuts. We donāt fit any of those categories because weāre made from plant proteins using pulses and our protein content and our nutritional composition in total is just very, very different from all these other products.
Also, I would say from a sensory perspective, texture, flavor, et cetera, we stand out. So Iām very stressed about moving out of the 10 million inhabitant country of Sweden. LBT: It sounds like the world is your oyster.
Yeah. It sounds like the world is your oyster.
Thereās lots of places you could go. ST: Yes.
But itās also, cheese is not a global product. I mean, itās not really used so much in Asia, for example.
So it is predominantly, the cheese market is Europe and US, even though pizza is taking over the world. LBT: Thereās been some bad press in the plant-based space around the health and nutritional profile of some of the alternatives and the level of processing.
Where do you stand on that? I mean, obviously youāve decided to go for a few ingredients.
Iām not sure about the processing element. It sounds like thatās some secret sauce.
But where do you stand? Do you think itās a bit unfair?
Do you think itās the meat lobby kind of thinking of something to throw at this growing industry? ST: I think itās an intriguing topic, and I do think itās interesting too.
Weāre not eating meat, but then what are we eating? I think that question is very valid, and it deserves a proper discussion.
Iām sure also thereās lots of polarization going on in terms of the opinions that are flying around. But I mean, as it comes to cheese where I nowadays call myself an expert, having had, God, I donāt know, 100 different plant-based cheeses, I think a huge majority of those are just completely nutritionless.
I mean, itās coconut oil and starch and usually modified starch. Thatās what these products are.
Especially, if you replace, if you add it to a sandwich or wherever else you add it, usually it would make up a nice mix of nutrition where the protein is a key part of the cheese ingredient. They just have none of it [ā¦] So the Violife, for example, their Greek Block has zero protein. You have the Green Vie their also feta has zero protein.
Most of these, I think that might have 3% tops. I think thatās problematic. And also, I mean, as you think about the live microorganisms, I think thatās also something that is beneficial.
Also, when you ferment, thereās lots of other benefits coming to the product in terms of how itās kind of pre-digesting the food for you. I do think itās important.
For us, I mean, we want the nutrition to be built in, so you donāt have to go think about it too much. But food without nutrition, itās not really food.
What is that really? LBT: Just quickly on the fermentation.
Are all your cheese is going to use fermentation or is it for the Chunk? Because I think feta is fermented or I guess most cheeses are fermented.
ST: Yeah. Fermentation is a great tool. We have had also work done without fermentation.
But we are big fans of fermentation, and thereās other areas where we think weāll use fermentation as well that I wonāt go more into. But yeah, thatās- LBT: So youāll always get the live microorganisms when you use fermentation?
ST: Yes. Unless you pasteurize it, which is basically when you kill everything thatās in it.
We donāt do that with this product, at least. LBT: What is fermentation? Can you give us a laymanās description?
ST: Yeah. So fermentation is the oldest, most common food processing technique.
Basically itās when bacteria start eating the food. Historically itās been the bacteria that are naturally already on the food. So obviously you have chocolate is fermented, beer, any pickled kimchi or thereās just so many, or basically any cheese out there.
For us, what we do is once we have our ingredients, we basically add a starting culture, which is made up of a number of different bacteria. They like to eat sugar, they like to starch, but they also like to snack on the proteins, and they create these enzymes that go off and cut off these proteins or also bind them together in different ways.
So itās both really as it comes to flavor, getting rid of, so as you get really sophisticated, you can design the right bacteria, the right enzymes to go off and for example, eat or break down the molecules that create the off flavor. Or you can go off and actually create molecules that make up a cheese flavor from the pea protein.
Itās really intriguing, but itās also really, really complex because itās billions of these things, and you canāt usually be that precise. LBT: Are you designing your own microbes and bacteria in house or are you purchasing them?
ST: I would not comment [on] that too much right now. LBT: Interesting. Well, weāll finish off with a big question about the future food system.
Say itās 2050, what two or three things you think are going to look pretty different from today in the way that we purchase our food, we grow our food, we eat off food. ST: For me, I think externalities have to be priced in.
Having true cost accounting will be really important to have that. That will be like a self-regulating system to make sure at least from a sustainability perspective.
Then I really wish for a food system where we have nutrition and sustainability built into the products that we eat so we donāt have to think about it, and the food system, but also the food experience can be so much more about just joy and community, connection. The campfire is like that place ⦠I want the future food system should provide the food experience around the campfire where we donāt care about labels, the nutritional label or the ingredients.
We donāt think about our weird keto diet or the carbs we get or the BCAA that I need before my workout. So where food is just joy and pleasure and community somehow.
Love it. Well, thank you so much, Sorosh. Always great to chat, and thank you for sending the Stockeld Chunk.
It really is yummy. Iāve been nibbling on it throughout this conversation. So thank you.
Good luck with the launch.
- Money: $10 billion
- Percentages: 95% Ā· 4% Ā· 13% Ā· 20%
- Figures: 10 billion Ā· 95% Ā· 4% Ā· 13%



