Internet sales expansionThis article was originally published in Foodnews
FONTERRA plans to increase sales conducted on its globalDairyTrade internet auction platform. "We plan to increase volumes and introduce new products," said Kelvin Wickham, managing director of global-DairyTrade, which sells around NZ$1.0 billion (US$600.5 million) of whole milk powder annually. Currently, Fonterra sells about 10% of its product on the platform. Wickham suggested the expansion of internet sales will benefit the market, and the co-operative plans to boost its product available online to 20%. In addition, Fonterra is looking for other international dairy companies to join the auctions. "We'd welcome other sellers who want to join in the march to a more stable, less risky future," he noted. "The move towards more open and transparent commodity markets is inescapable."