31 Mar 2016

NZX to teach farmers about new milk contract

7:03 am on 31 March 2016

NZX expects to receive regulatory approval for the new fresh milk futures and options product within two weeks.

Chief executive Tim Bennett said there was a demand for the fresh milk contracts product after Fonterra scrapped its guaranteed milk price product for the upcoming season.

"One of our focusses this year is to launch a fresh milk futures contract, we are going through some regulatory approvals at the moment, but we expect to be able to announce something and launch that product in the May/June timeframe.

"Obviously it's a markets product, futures and options, but also we're using our agri-publishing and research, or analytics business, to provide education and support to the agricultural community to help them understand how to use those tools to manage thier price risk."