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GDT Events surpasses US$20 billion in online dairy sales

Global Dairy Trade’s online dairy trading platform, GDT Events, has passed the milestone of US$20 billion cumulative value of products sold at the 185th trading event the other day.

“Over 40 specifications of dairy ingredients are offered to over 500 registered bidders from 80 countries, offering more trading opportunities than any other trading platform. GDT Events, now in its 9th year, has traded more than 5.8 million metric tonnes (12.8 billion pounds) of dairy ingredients, enough to fill over 365,000 twenty-foot shipping containers.

“GDT Events performed successfully against the backdrop of a prolonged two-year downturn on the global dairy market. In 2016, despite the relatively weak market conditions, more than 95 per cent of the dairy products offered were sold.

At the latest trading event on April 4th the change in GDT Price Index from previous event was +1.6%. The average price (USD/MT, FAS) was $3,005.

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Global Dairy Trade Releases Inaugural Annual Report

Global Dairy Trade has produced its first Annual Report 2016, with a focus on GDT Events and the new GDT Events Oversight Board.

Content:

  • Global Dairy Trade 2016 highlights
  • Oversight board chairman’s report
  • Director’s report
  • Case study: Arla Foods Ingredients
  • Connecting a truly global marketplace
  • GDT events oversight board
    • member representatives
    • governance principles
  • Trading manager report
  • Integral to NZX dairy derivatives
  • The history of Global Dairy Trade
  • GDT statistics to 31 december 2016

Get the report

Global Dairy Trade strengthens independence

New governance principles to monitor GDT Events, the twice-monthly auction held by Global Dairy Trade, have been voted in by the GDT Events Oversight Board.

The new governance principles will enhance the Board’s monitoring and reporting, and is an important milestone on the journey to implement best practice governance of GDT Events.

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Global Dairy Trade Prices Fall

The Global Dairy Trade auction saw a fall in the overall price indices of 3 per cent, but dairy industry watchers suggest that might not be a bad thing.

All the commodities at the auction fell in price, except butter milk powder which rose by 9.3 per cent.

The Irish Farmers Association (IFA) National Dairy Committee Chairman Sean O’Leary said the price fall was not necessarily a bad thing, as it might help avoid global dairy prices overheating.

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Global dairy prices up

International milk prices rallied in the passed Global Dairy Trade auction, adding to the view that the market may be on the road to recovery. The GDT Price Index, which covers a variety of products and contract periods, rose 12.7 percent, with an average selling
price of $2,731 per tonne, in the auction held Tuesday.
Whole milk powder prices, which make up the bulk of the auction, soared 18.9 percent while skim milk powder prices rose 3.0 percent and butter rose 14.1 percent.

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Global Dairy Trade offers new suite of services

Global Dairy Trade is set to expand its role in online dairy trading with a new suite of complementary services.

“The growth in global dairy trading, ecommerce and digital platforms meant now is the right time to continue developing innovative services to reach more markets around the world,” said Eric Hansen, Director, Global Dairy Trade.

Global Dairy Trade’s new offering will include:

  • GDT Events, the current twice monthly auction
  • GDT Marketplace, a new 24/7 dairy trading platform
  • GDT Insight, a subscription service offering round-by-round and post-event data from GDT Events

A new Cream Group for Anhydrous Milk Fat and Butter will be introduced on GDT Events from June which further develops the existing GDT Events trading platform, as outlined in GDT’s stakeholder consultation process last year.

“Global Dairy Trade is now well positioned as a digitally driven multiservice business, offering a strong suite of complementary services that will deliver benefits to dairy sellers, buyers and the financial dairy trading sector,” said Hansen.

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