Murray Goulburn joins Fonterra's GlobalDairyTrade platform with new lactose product

Thursday 1st December 2011

Murray Goulburn, the Australian farmer-owned dairy cooperative, is to begin selling dairy products through Fonterra Cooperative Group’s GlobalDairyTrade platform, becoming the second outside company to sign up for trading.

The Victoria-based dairy group will offer lactose, used for nutritional products such as infant formula, starting On April 3 next year.

DairyAmerica, which represents four major US producer-owned dairy cooperatives, joined the GDT platform on Oct. 4.

The latest addition “demonstrates GDT’s increasing role as a key platform for international trade in a broad range of dairy commodities,” said Paul Grave, general manager of GDT, in a statement.

Murray Goulburn managing director Gary Helou said selling lactose via GDT would “further develop the market for this product and has the potential to reduce volatility and provide more reliable price discovery for buyers and sellers.”

GDT trades about 700,000 metric tonnes of dairy products a year, with 500 qualified bidders in more than 80 countries.

BusinessDesk.co.nz

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