Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
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.”
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
World Veterinary Day falls on Saturday 27 April.
The Director General of MPI, Ray Smith says it's important for his department to celebrate the success of a whole range of groups and people around the country.
A small company which mobilised veterinarians around the country to deal with Mycoplasma bovis was one of the winners in this year's Biosecurity Awards, held at Parliament.
One of the country's top Māori sheep and beef farms is facing a five-year battle to get back to where it was before Cyclone Gabrielle struck just over 14 months ago.
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