9 Jan 2010

Internet sales reach $US1b for Fonterra

8:23 am on 9 January 2010

Sales on Fonterra's internet based trading platform have reached more than $US1 billion.

GlobalDairyTrade was launched in July 2008 and has held 19 auctions since then.

The company says it now has more than 250 bidders from 56 countries.

With the recent addition of Anhydrous Milk Fat and Skim Milk Powder, the company says annual sales of product on the internet will be more than 400,000 tonnes - or 20% of its 2008/2009 production.

Whole Milk Powder futures contracts will also begin trading on the NZX in the first half of this year.