9 Jun 2010

Fonterra online auction frequency to increase

1:23 pm on 9 June 2010

Fonterra is increasingly the frequency of its global online auctions to twice per month.

Global Trade managing director Kelvin Wickham says increased frequency will supply up to date information about the balance of supply and demand and prices.

Buttermilk powder will also be for sale on the auction from August, taking the number of products available to four.

Fonterra estimates it will sell 530,000 metric tonnes of product online over the next year, which is about a quarter of Fonterra's total New Zealand production.