Fonterra today confirmed that it has achieved record sales and revenues from its two August GlobalDairyTrade (GDT) auctions.
Fonterra achieved its highest-ever monthly revenue through GDT in August, selling 109,664 metric tonnes, worth NZD 685 million.
Fonterra Chief Executive, Theo Spierings, said, "The past two GDT events show continued confidence in our products and strong demand from many of our key markets.
"Our August GDT sales volume was up 27% on the same time last year, and revenue more than doubled, up 107%."
Commenting on Fonterra's current forecast for a 15% decline in its product volumes on GlobalDairyTrade over the next 12 months, Mr Spierings said that this reflects Fonterra's strategy of moving from being commodities-driven to a more value-added, higher-margin products business.