Sweet whey powder joins dairy auction
Sweet whey powder will be sold on the Fonterra-owned auction platform GlobalDairyTrade for the first time when a European dairy co-operative joins the market in September.
Germany-based Molkerei Ammerland will join seven other sellers on the GlobalDairyTrade (GDT).
Molkerei Ammerland, which specialises in cheeses, butter, whey and milk powders and fresh dairy products, gathers milk from more than 2000 farmers in northwest Germany.
It processes more than 1.5 billion kilograms of milk a year for sale to more than 50 countries.
Molkerei Ammerland chief executive Ralf Hinrichs said exports made up 49 per cent of its sales.
Joining the GDT would make the company more competitive and give it greater access to global dairy demand, he said.
GlobalDairyTrade is an auction platform for internationally traded commodity dairy products and has become a leading price reference indicator. It was established in 2008.
Sweet whey powder will be the ninth product group sold in the GDT's twice-monthly auctions. The auctions have 650 registered buyers.