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Fonterra’s globalDairyTrade to run twice a month

Fonterra has announced that from September 2010 the globalDairyTrade trading manager, CRA International (CRA), will increase the frequency of trading events to twice a month.

Kelvin Wickham, Fonterra managing director global trade, said the increase in frequency has highlighted globalDairyTrade’s success as an online trading platform and as a credible price discovery mechanism.

“With a more frequent pricing signal, market participants will be able to have even more confidence they have up-to-date information on the current balance of supply and demand,” Wickham said.

According to Brad Miller, head of CRA’s Auctions & Competitive Bidding Practice, globalDairyTrade has grown to 280 qualified bidders from 56 countries, an increase from 107 at inception.

“There are now between 100 and 140 active bidders participating in each event and around 65 per cent of bidders joining the event win product,” Miller said.

Fonterra also announced that beginning with the 3 August 2010 trading event it will be adding an extra product, Buttermilk Powder, and two specifications of existing products – High Heat/ Heat Stable Skim Milk Powder and Anhydrous Milk Fat in 1000 kilogram bulk packs – to globalDairyTrade.

 

 

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