Fon­terra site at­tracts US dairy mar­keter

South Waikato News - - RURAL DELIVERY -

Hopes are high that Euro­pean dairy com­pa­nies will fol­low DairyAmer­ica in sign­ing up to join Fon­terra’s once-slated on­line prod­ucts auc­tion plat­form Glob­alDairyTrade.

Fon­terra and DairyAmer­ica have an­nounced the United States dairy mar­keter will start sell­ing prod­ucts on Glob­alDairyTrade on Oc­to­ber 4, in what is seen as a sig­nif­i­cant vote of con­fi­dence in the twice-monthly auc­tion, now con­sid­ered a barom­e­ter of world com­mod­ity prices.

Its price achieve­ments are also the set­tle­ment prices for the New Zealand stock ex­change’s dairy fu­tures mar­ket.

The ad­di­tion of DairyAmer­ica is ex­pected to bring more trans­parency and bet­ter price dis­cov­ery.

Glob­alDairy gen­eral man­ager Paul Grave said it was also hoped Euro­pean firms would now sign up.

DairyAmer­ica, whose mem­ber com­pa­nies rep­re­sent about 45 per cent of all non-fat and skim milk powders pro­duced in the United States, said it would start by sell­ing skim milk powder prod­ucts with other lines added over time.

Fon­terra’s main prod­uct of­fer­ing on Glob­alDairy is whole milk powder.

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