Sharechat Logo

Fonterra moves to open online trading platform

Wednesday 9th March 2011

Text too small?

Fonterra is trying to open its online dairy products trading platform globalDairyTrade to outsiders and says more products will trade on the platform.

Major dairy producers Arla Foods and FrieslandCampina from Europe; California Dairies and DairyAmerica from the West Coast of the United States; and Murray Goulburn from Australia have had input into the development of draft rules that will govern multiple sellers using the platform, although no company has yet committed to offer product on the platform.

The rules are being released today so that industry participants and stakeholders have the opportunity to offer suggestions and feedback.

"All parties are keen to be open and transparent so that globalDairyTrade moves to the next phase of its development with continued wide support from the global industry," said Fonterra managing director of trade and operations Gary Romano.

The internet-based auction platform was launched in July 2008 and currently trades anhydrous milk fat, butter milk powder, skim milk powder and whole milk powder.

Fonterra will offer milk protein concentrate and rennet casein from May 17.

Romano said that when globalDairyTrade was set up it was envisaged that other sellers of dairy products would eventually join the platform.

Having other sellers would add more volume and would lead to even more reliable price discovery, he said.

 

NZPA



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Infratil releases Climate Related Disclosures
The Warehouse Group Appoints Chief Digital & Transformation
The Financial Collapse Has Already Begun - Will You Be Caught Off Guard?
NWF - IMPLEMENTATION OF SCHEME OF ARRANGEMENT
EROAD Publishes FY25 Group Climate Statement
Synlait provides performance update
Air New Zealand Chief Executive Officer Appointment
July 30th Morning Report
IKE 1Q FY26 Performance Update
July 29th Morning Report