GlobalDairyTrade to Offer Cheese

Fonterra announced that cheddar cheese would be offered for sale on the global electronic trading platform from the 19 July Trading Event.

4/11/2011 --- Fonterra announced that cheddar cheese would be offered for sale on the global electronic trading platform from the 19 July Trading Event.

The addition will expand the range of products available on the platform to seven, including Whole Milk Powder, Skim Milk Powder, Butter Milk Powder and Anhydrous Milk Fat. Fonterra will begin offering Milk Protein Concentrate and Rennet Casein from the 17 May Trading Event.

Ian Palliser, Director of Optimisation, Trading and Sourcing, said adding cheese was in line with Fonterra’s plans to provide customers with a wide range of products on a world class platform.

The cheese to be offered is a dairy ingredient requiring further processing and is not a product that can be sold at retail.

“globalDairyTrade is the trusted price discovery mechanism for globally-traded dairy products,” Mr Palliser said.

“The 5 July Trading Event will mark globalDairyTrade’s third birthday. Since launch it has developed into a highly efficient market with sales to date totalling US$3.3 billion.

“It currently trades around 630,000 metric tonnes, or around 25% of Fonterra total sales, each year and has more than 300 registered bidders from 58 countries,” Mr Palliser said.