11 Nov 2015

Online trading tool attracts international interest

5:45 pm on 11 November 2015

A New Zealand-designed trading platform is gaining international attention from meat and dairy companies around the world.

Cream is a new online tool that allows companies to buy and sell dairy products and potentially other agricultural produce such as meat.

It is expected to go live January next year, and its co-founder and chief executive Kevin O'Sullivan said it allowed businesses another way to engage with customers electronically.

It was designed for the dairy industry but it was attracting attention from other sectors, he said.

"We've got demonstrations in with quite a few companies throughout Ireland, New Zealand, America, Denmark and we're also in talks with a very large meat company out of America... who are looking at using it for their meat product, which we can do because the platform itself is quite configurable," Mr O'Sullivan said.

"Our point of difference in the core of our business is that fundamental marketplace where there is buyers and sellers in an electronic world putting in what they want to pay for certain things. They could be doing on that on their mobile phone... laptop, anywhere in the world."

The new site was not planning to compete with Fonterra's twice-monthly Global Dairy Trade auction, he said.