Ocean Spray Announces Online Trading Platform for Cranberry Concentrate

As the world’s leading cranberry processor, Ocean Spray is adopting an auction-based sales process for its concentrate that is fair, transparent, and efficient.

08/06/09 Ocean Spray’s Ingredient Technology Group is establishing a new go-to-market approach for the sale of cranberry concentrate by holding an online auction that will make available product for all qualified buyers worldwide on a consistent basis. The web-based auction process has been carefully developed with an Independent Auction Manager, CRA International. The auction will establish the clearing price for Ocean Spray’s cranberry concentrate, and will ensure supply certainty and efficient contracting – specifically critical considerations in today’s uncertain economic environment. The first auction is scheduled for July. Details can be found at http://www.cranberryauction.info.'>http://www.cranberryauction.info.

As the world’s leading cranberry processor, Ocean Spray is adopting an auction-based sales process for its concentrate that is fair, transparent, and efficient. By registering on http://www.cranberryauction.info and participating in the auction, potential concentrate buyers can easily track and observe Ocean Spray concentrate pricing and availability. Successful bidders can quickly and easily secure supplies of concentrate with guaranteed pricing for future delivery.

Michael Stamatakos, Ocean Spray’s Vice President, Agricultural Supply and Development comments: “Our cranberry auction will ensure that all customers wanting to buy Ocean Spray concentrate will do so on a level playing field. By securing a specified volume of concentrate at an agreed price, our customers can be assured that market fluctuations will not affect them for a set period in these turbulent times. We are committed to supporting potential bidders by providing the information and education needed to participate confidently. We urge all interested parties to visit our informational site: http://www.cranberryauction.info at the earliest opportunity in preparation for July’s auction.”

Brad Miller, leader of the Auctions and Competitive Bidding Practice at consulting firm CRA International, added: “CRA has extensive experience in developing and managing auctions and we are pleased to assist Ocean Spray with this cranberry concentrate auction. Our experience shows that our clients and their customers find the auctions transparent, objective and easy to use, adding real value to commodity trading for buyers and sellers alike.”