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Fonterra’s globalDairyTrade reflects market recovery
Fonterra’s internet-based sales platform globalDairyTrade concluded its September trading event with average prices for whole milk powder up 24.2%.
The Trading Manager, CRA International, advised Fonterra that the average price achieved across all contracts and contract periods for whole milk powder (WMP) was $2,858 per tonne FAS. This was $557 per tonne higher than the August event. Prices ranged from $2,765 per tonne FAS to $2,940 per tonne FAS.
Fonterra global trade managing director, Kelvin Wickham, said the lift was higher than expected: “However, we anticipated whole milk powder prices would lead the recovery because of low global inventories and firming demand. With demand returning, our customers have more confidence in refilling their supply chains, yet it remains to be seen whether demand has returned to sustainable growth.”
Wickham said that from 3 November 2009, globalDairyTrade trading events would include anhydrous milk fat (AMF), in line with plans to offer an expanded range of products.
“This will provide for AMF the same transparent market price that globalDairyTrade is already providing for WMP,” he added.
The next globalDairyTrade trading event will be held on 6 October 2009.
Source: Fonterra
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