Fonterra says its August GlobalDairyTrade auctions achieved record sales and revenues

Fonterra says its August GlobalDairyTrade auctions achieved record sales and revenues

Fonterra says, despite the recent botulism scare, it achieved record sales and revenues from its two August GlobalDairyTrade (GDT) auctions.

Fonterra says it sold 109,664 metric tonnes of product valued at NZ$685 million, its highest-ever monthly revenue from the auctions.

“The past two GDT events show continued confidence in our products and strong demand from many of our key markets," Fonterra CEO Theo Spierings says.

“Our August GDT sales volume was up 27% on the same time last year, and revenue more than doubled, up 107%.”

Spierings says Fonterra’s current forecast for a 15% decline in product volumes on GDT over the next 12 months reflects the co-operative's strategy of moving from being commodities-driven to a more value-added, higher-margin products business.

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1 Comments

Theo telling us the quantity Fonterra sold on globalDairyTrade over the current and prior month combined is a small step towards greater transparency around the auctions, but a long way from releasing details on volume by product without a 3 month delay.
 
The most up to date product volume data available until the next auction is from the 15th May event. 
 
Fonterra's delay in providing information on the supply/demand relationship doesn't to my mind assist their credibility when they make statements about volumes sold and/or prices.