According to the report, Fonterra will expand the range of products available online to seven, including whole milk powder – New Zealand’s biggest volume of dairy exports – skim milk powder, butter milk powder and an industrial butter, anhydrous milk fat.
From May 17, Fonterra will offer milk protein concentrate (MPC) and rennet casein.
Fonterra’s director of optimisation, trading and sourcing Ian Palliser said adding cheese was in line with Fonterra’s plans to provide customers with a wide range of products on a world-class platform.
The cheddar is a dairy ingredient requiring further processing – not the kind sold at the supermarket.
Palliser said the July 5 auction will mark the third “birthday” of the internet auctions, which have become a trusted price discovery mechanism for globally-traded dairy products and have so far sold product worth USD$3.3 billion (NZD$4.2 billion).
Palliser said the online auction system currently trades around 630,000 metric tonnes, or around 25% of Fonterra total sales, each year and has more than 300 registered bidders from 58 countries. – Source: NZHerald