Globaldairytrade to offer cheese

Fonterra said that cheddar cheese would be offered for sale on the globalDairyTrade electronic trading platform from the 19 July Trading Event.

The addition will expand the range of products available on the platform to seven, including whole milk powder, skim milk powder, butter milk powder and anhydrous milk fat.

The company will begin offering milk protein concentrate and rennet casein from the 17 May Trading Event.

The cheese to be offered is a dairy ingredient requiring further processing and is not a product that can be sold at retail.

"The 5 July Trading Event will mark globalDairyTrade's third birthday. Since launch it has developed into a highly efficient market with sales to date totaling $3.3 billion," said Ian Palliser, director of optimisation, trading and sourcing.

"It currently trades around 630,000 metric tons, or around 25% of Fonterra total sales, each year and has more than 300 registered bidders from 58 countries."