The GDT annual report for 2017 shows 96% of offered quantity was sold in 2017.
An average of 163 active bidders participated in each trading event last year with whole milk powder dominating the volume offered.
In terms of quantity, WMP represented 54% of all product sold, with SMP accounting for just under a quarter (24%). Butter made up 6% of the volume.
Year-on-year, the WMP average price was up 25%. SMP was also up but only slightly (3%). Butter prices outstripped the growth for powders – increasing 64%.
Of the participating bidders, those from north Asia account for the highest proportion (29%), followed closely by southeast Asia and Oceania (26%). European bidders made up 12% and Africa, Middle East and South and Central America 10% each.
Director Eric Hansen said the global dairy market is constantly evolving and GDT is responding to the needs of its customers.
He made reference to demand coming from the United States and European Union buyers and sellers.
“We are exploring the possibility of working with the European Energy Exchange (EEX) to set up and operate an auction mechanism for dairy products originating in Europe.
“Another priority is the significant upgrade of the GDT events platform, with the first phase of development scheduled for 2018.
“The upgrade will improve the customer experience by providing modern digital features and greater flexibility for users, such as making it easier to bid via smart phone or through the auto-bid facility.”
