Global Dairy Trade Biannual Chart Focus Update –10/1/14
GDT released their biannual Chart Focus report in late September, which includes updated Jun ’13 – May ’14 data on several key indicators within the GDT. Volume sold by product as a percentage of total product sold increased for WMP, SMP and butter, while volumes of cheddar cheese, AMF and other products declined. Product was sold from Fonterra (New Zealand), Dairy America (U.S.), Land O’Lakes (U.S.), Amul (India), Murray Goulburn (Australia), Arla (Europe), Euroserum (Europe) and Molkerei Ammerland (Europe). Molkerei Ammerland joined the seven existing sellers within the GDT in Sep ’14, offering sweet whey powder for the first time on the platform. Market share of participating bidders by region decreased the most in North Asia (down 3% YOY) while increasing the most in Europe (up 5% YOY). Volume sold by contract period was not provided in the Sep ’13 Chart Focus report, and remained largely unchanged from Jan ’13 – Dec ’13 figures released in the Mar ’14 Chart Focus report. Over two thirds of the total product sold remains in short-term contract periods (CP1 & CP2). Participating bidders who actively bid on product in at least one trading event over the 12 months until May of the respective year increased YOY for WMP, SMP and butter but declined for AMF and cheddar cheese. The combined quantity of WMP, SMP and AMF sold per month has trended higher YOY the past several months leading up to May ’14, and is up 15.0% YTD from Oct ’13 – May ’14. The combined quantity of other products (butter, cheddar cheese, butter milk powder, lactose, and rennet casein) sold per month has trended higher YOY throughout ’13-’14 and is up 52.3% YTD from Oct ’13 – May ’14.