16 Sep 2010

Fonterra can't influence dairy future prices - NZX

7:21 am on 16 September 2010

NZX says transparency and regulation will ensure Fonterra won't be able to influence dairy future prices.

Open Country Dairy complained about NZX using Fonterra's global Dairy Trade milk powder price as the reference price for its futures contracts, which will start trading next month.

NZX says the auction price is the most transparent and credible benchmark, while the futures market will be heavily regulated.