increase font size
GDT is now in its ninth year of selling Fonterra dairy products online.
The online global dairy auction launched by Fonterra nine years ago has sold US$20 billion of products.
GlobalDairyTrade (GDT) passed the milestone at the 185th trading event last week. It offers three services: GDT Events, GDT Insight and GDT Marketplace, for dairy buyers, manufacturers and the financial dairy trading sector.
Director Eric Hansen says GDT Events enables high volumes of dairy ingredients to be traded efficiently, its unique scale underpinning the reliability of the reference pricing.
“Over 40 specifications of dairy ingredients are offered to at least 500 registered bidders from 80 countries, offering more trading opportunities than any other platform.”
GDT Events, now in its ninth year, has traded at least 5.8 million tonnes of dairy ingredients, enough to fill 365,000 twenty-foot shipping containers.
GDT Events kept going through the two-year downturn on the global dairy market; in 2016, despite the relatively weak market, at least 95% of the products offered were sold.
“We’re [now] also looking at the viability of creating multi-seller pools for homogenous products, such as generic lactose or other commodity products available from certain regions,” Hansen says. “This would extend the benefits of credible price discovery to a wider range of markets and products.”
In 2016 GDT set up a GDT Events oversight board to promote the independence and transparency of the twice-monthly auction.
Chairman Bill Shields says GDT Events is the leading provider of reference prices for core ingredients, reflecting the levels of global supply and demand traded on the platform.
“The prices established on GDT Events provide businesses along the supply chain with enhanced visibility of the dairy sector and can be used to improve their planning.
“GDT Events shows that better price discovery can be beneficial to market participants whether prices are weak or strong, and can contribute to better price risk management in the dairy industry.”
Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
OPINION: Farmer shareholders of two of New Zealand's largest co-operatives have an important decision to make this month and what they decide could change the landscape of the dairy and meat sectors in New Zealand.
OPINION: As CEO of the Dairy Board in the 1980s I was fortunate to work with a team of experienced and capable executives who made most of the brand investments that created the international consumer business Fonterra inherited. Soprole in Chile was the largest, but there were more than 20 countries where consumer marketing companies were established and Anchor and other brands were successfully launched.
Fonterra has delivered a fifth straight year of record organic milk price for farmer suppliers.
Fonterra says favourable weather conditions supporting pasture growth is boosting milk production.
Like many manufacturers around the world, European agricultural machinery and tractor manufacturers are currently operating in a difficult market environment. But they are heading to the world’s largest agricultural machinery event in Hanover next month with a degree of cautious optimism.
Established in 2021, the John Deere Technician of the Year Awards champion the important contribution parts and service technicians make to the Australian and New Zealand agriculture, construction and forestry industries.
Beef + Lamb New Zealand (B+LNZ) is calling on farmers from all regions to take part in the final season of the Sheep Poo Study aiming to build a clearer picture of how facial eczema (FE) affects farms across New Zealand.
New Zealand is closer to eradicating bovine TB than ever before, but possums remain a threat, says Beef + Lamb New Zealand.
Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
The ACT Party says media reports that global dairy giant Nestle has withdrawn from the Dairy Methane Action Alliance shows why New Zealand needs to rethink its approach to climate.
