Content supplied by GlobalDairyTrade
GlobalDairyTrade announced today that Land O’Lakes dairy products are to be offered on GlobalDairyTrade beginning March, 2014.
Land O’Lakes’ participation as a seller on GDT marks yet another significant development in the world’s foremost online dairy commodity trading platform.
Land O'Lakes, Inc., one of America’s premier agribusiness and food companies, is a member-owned cooperative with industry-leading operations that span the spectrum from farm production to consumer foods.
With 2012 annual sales of more than US$14 billion (NZ$17 bln), Land O'Lakes is one of the America’s largest cooperatives and ranked No. 194 on the Fortune 500.
With a legacy of more than 92 years of operation, Land O'Lakes today operates some of the most respected brands in agribusiness and food production including Land O'Lakes, Purina Animal Nutrition and WinField, and has customers spanning more than 60 countries.
Director of GlobalDairyTrade Paul Grave said, “GlobalDairyTrade is honoured that a company with Land O’Lakes’ stature is participating in GDT.
This further demonstrates GDT’s expanding role as a key platform for international trade in a broad range of dairy commodities.”
Land O’Lakes will initially be offering Skim Milk Powder (SMP) via the platform, and is planning to offer Butter later in 2014. Further information about Land O’Lakes’ offering on GDT will be provided in the lead up to formal participation in March.
Land O’Lakes’ involvement means six sellers will be offering SMP.
Once Land O’Lakes introduces Butter, three sellers will be offering this product group, further deepening the liquidity and price transparency for these products.
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Additional detail. Fonterra's annual revenues to July 2013 were NZ$18.6 bln, down 6% from 2012. Land O'Lakes annual revenues to December 2012 were US$14.1 bln, up 10% from 2011.
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