27 Apr 2016

GlobalDairyTrade moves to 24/7 online trading

9:12 am on 27 April 2016

The global dairy trading platform owned by Fonterra is to expand further into online trading.

Organic Jersey cow and calf on a Rongotea farm.

Photo: RNZ / Alexander Robertson

GlobalDairyTrade (GDT), though owned by Fonterra, acts independently as one of the world's leading dairy trading platforms.

As well as its fortnightly auction, the company offer a new way for customers to trade in the 66-billion litre international dairy market.

It is introducing online trading 24 hours a day, seven days a week.

Fonterra says the new digital trading channel will meet growing demand for online transactions and will be complimentary to the existing auction.

It said online trading is ideal for customers purchasing smaller volumes who want convenience and availability at a time that suits them.

GDT will also offer a subscription service providing post-auction data to customers.

And the twice monthly auction will now include a new cream group for anhydrous milk fat and butter.

Get the RNZ app

for ad-free news and current affairs