11 Mar 2020 --- Nestlé Australia is introducing a plant-based version of its cocoa malt beverage, Milo, that was first introduced in 1934. The move comes as more consumers are including plant-based alternatives and ingredients in their diets. The new Milo replaces milk powder with soy and oats and the core ingredients are the same as the original Milo – malt, barley and cocoa, says the company.