Milk Glut Drags Fonterra Forecast Down to $9.20/kgMS
A milk glut around the world shows no sign of easing, putting downward pressure on farmgate milk prices for the next few months.
Molkerei Ammerland's participation as a seller on GDT marks yet another significant development in the online dairy commodity trading platform.
Molkerei Ammerland, one of Europe's leading dairy cooperatives, gathers milk from over 2000 farmers across northwest Germany, and through its state of the art production facilities it processes more than 1.5 billion kilograms of milk for sale to over 50 countries around the world. Molkerei Ammerland specialises in cheeses, butter, whey powders, milk powders and fresh dairy products, and has capitalised on over 125 years' experience.
Molkerei Ammerland CEO Ralf Hinrichs says that "exports already make up 49% of our sales, and will become increasingly important as we increase our production capacity. GDT gives us the opportunity to access worldwide demand for dairy and to compete more effectively on the world stage. This announcement is good for Molkerei Ammerland, its farmers and other business partners."
Director of GlobalDairyTrade Paul Grave says, "GlobalDairyTrade is delighted to welcome Molkerei Ammerland as the latest new seller in our fortnightly auctions. We believe the addition of Sweet Whey Powder will also be welcomed by the network of over 650 registered buyers as we continue to expand GDT's role as a key platform for international trade in a broad range of dairy commodities."
Since its inception in 2008 GDT has sold over US $14 billion of dairy ingredients products. The introduction of sweet whey powder extends GDT's offerings to nine product groups offered by eight leading dairy producers. GDT has traded more than one million metric tonnes in just the last 12 months, and this new development will further deepen the liquidity and price transparency for these products.
Further information about Molkerei Ammerland's offering on GDT will be provided in the lead up to formal participation in September. Customer inquiries can be directed to This email address is being protected from spambots. You need JavaScript enabled to view it..
