NZX says more than 2000 lots have been traded on its dairy futures market.
The market, which allows buyers and sellers to lock in milk prices for delivery at a later date, got off to a slow start when it was launched last year.
But NZX-Agrifax market analyst Nick Handley says liquidity in the market is now building very quickly.
It took nine months for the first 1000 lots to be traded, but the second 1000 lots only took eight weeks to register. More than 340 lots traded last week and more than 200 the week before that.
Mr Handley says it's exciting to see liquidity building so quickly.
NZX says while there's still a way to go to reach the super-liquidity levels of globally traded commodities such as coffee and cocoa, it is a very strong start.
