Tuesday, 25 January 2022 10:55

Fonterra-owned GDT reaches milestone

Written by  Staff Reporters
Fonterra-owned Global Dairy Trade conducted its 300th auction last week. Fonterra-owned Global Dairy Trade conducted its 300th auction last week.

Fonterra-owned Global Dairy Trade (GDT) celebrated its 300th event last week.

Launched in 2008, the online auction platform has to date traded dairy products worth over US$30 billion.

GDT director Eric Hansen says the milestone reflects the platform as an essential part of the global dairy industry landscape.

"GDT exists to ensure buyers and sellers can trade with confidence in global and regional dairy markets.

"Achieving 300 trading events shows that GDT continues to provide an essential service to the global dairy industry.

"More than US$30 billion has been traded on GDT events since it was established in 2008, which equates to just over 9 million metric tonnes traded, with an average clearance rate of 97%."

GDT offers dairy products from six global companies: Fonterra (New Zealand), Dairy America (USA), Amul (India), Arla (Denmark), Arla Food Ingredients (Denmark) and Polish Dairy (Poland).

"Global Dairy Trade brings together buyers and sellers from around the globe, with core commodity dairy products from four continents offered to registered bidders from over 70 countries.

"We look forward to further serving the dairy industry in the years ahead, by increasing liquidity on GDT Events and actively supporting the growth of efficient dairy derivative trading associated with it," Hansen says.

While owned by Fonterra, it operated independently.

An independent oversight board oversees event rules and structures, so that they are monitored and developed in a neutal and transparent manner. All trading events are run by an independent trading manager, CRA International Inc, a global specialist in developing and operating auctions.

More like this

Fonterra reforms greenlit

Fonterra's new capital structure is likely to sail through the parliamentary process without any major changes.

National

Feds stalwart to step down

Outspoken Federated Farmers leader Chris Lewis is stepping down from the farmer lobby after 17 years of service.

Machinery & Products

India boosts fert subsidy

India plans to double its budgeted 2021-22 fertiliser subsidies to a record of more than 1.55 trillion rupees (US$20.64 billion)…

Kicking lameness into touch

Lameness in dairy cows can have a significant effect on a businesses' bottom line, with vets suggesting that each case…

Single row concept delivers results

While Controlled Traffic Farming (CTF) has become increasingly popular over the last decade, German company Amazone is looking to take…

» The RNG Weather Report

» Latest Print Issues Online

Milking It

Fake and cheap

OPINION: First they demanded plant-based 'milk', now they want it priced cheaper than real milk.

Cannon fodder?

OPINION: The recent high-profile Mycoplasma bovis announcement from the Government in Hamilton featured Prime Minister Jacinda Ardern and Agriculture Minister…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter