American food co-operative Land O’Lakes will be selling its dairy products on GlobalDairyTrade (GDT) in March 2014.
The company is America’s second largest co-operative and would initially offer skim milk powder on GDT and is planning to offer butter later in 2014.
Land O’Lakes’ involvement meant there were now six sellers offering SMP on the trading platform.
Once Land O’Lakes introduces butter, three sellers will be offering this product group, further deepening their liquidity and price transparency.
Land O’Lakes is a member-owned co-operative with industry-leading operations that span the spectrum from farm production to consumer foods.
Its 2012 annual sales totalled more than $14 billion and according to its website has 9000 employees, 3200 direct producer-members and 1000 member-co-operatives serving more than 300,000 agricultural producers.
It handles more than 5.4 million tonnes of milk a year, does business in more than 50 countries and operates some of the most respected brands in agribusiness and food production including Land O’Lakes, Purina Animal Nutrition and WinField.
GDT director Paul Grave said having Land O’Lakes’ participating in GDT demonstrated GDT’s expanding role in the trade.
(Source – http://www.stuff.co.nz/business/farming/dairy/9498662/Big-US-co-op-joins-GlobalDairyTrade)