Australian dairy co-op Murray Goulburn has today (1 December) confirmed that it will sell lactose on Fonterra’s commodity auction platform GlobalDairyTrade.
Murray Goulburn, which will start selling lactose via the online platform on 3 April, joins US dairy marketing firm DairyAmerica in selling products through the auction site, which was devised by Fonterra in 2008. In March, Fonterra said it was opening up the site to allow other dairy processors to sell products on the platform.
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Murray Goulburn managing director Gary Helou said lactose was growing in importance in the marketplace. “This is driven by increased demand for lactose for products such as infant formula and other nutritionals,” he said. “Offering lactose on GDT will further develop the market for this product and has the potential to reduce volatility and provide more reliable price discovery for buyers and sellers.”
GlobalDairyTrade general manager Paul Grave said Murray Goulburn’s decision expanded the range of products sold through the platform. “It adds a new product to the platform that is not currently offered by existing sellers,” he said.
The platform’s sales to date total more than US$5bn and around 700,000 metric tonnes of products are traded on it annually.
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