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Article: Creech warns Fonterra auction system threat to dairy prices
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Article from:
New Zealand Herald (Auckland, New Zealand)
Article date:
December 22, 2008
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Calls are mounting for a review of Fonterra's online auction system amid concerns it is helping drive down international dairy prices.

In an open letter to dairy farmers, Open Country Cheese director Wyatt Creech said the auction system had exaggerated the decrease in price, with customers sure they would be able to buy for less the following month.

Fonterra is the world's biggest dairy exporter and launched its internet-based sales auction called globalDairyTrade in July to set a global reference point for dairy products and try to keep up with volatile markets.

The average price in Fonterra's sixth trading event in December for whole milk powder across all ...

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