The GDT allows for trading of large volume dairy ingredients, taking place every two weeks, selling products including milk powders, butter, lactose and cheddar.
Kerry Dairy Ireland is joining GDT Events this month, offering SMP Medium Heat.
Kerry Dairy Ireland CEO, Pat Murphy, said: “We are pleased to be partnering with GDT to help provide high-quality dairy solutions and deliver sustainable nutrition globally. Joining GDT provides us with access to a worldwide pool of active buyers – aligning with our strategic aspirations to create a world of sustainable nutrition.”
According to Global Dairy Trade’s Managing Director Europe, Shaun McCauley, Kerry Dairy Ireland is a fantastic new addition to GDT Events, and is delighted to see GDT Events continue to expand throughout Europe. “We are proud to partner with Kerry Dairy Ireland and support them and their growth ambitions.”
Kerry’s skim milk powder is used in a range of food applications, including infant and adult nutrition, confectionery, bakery, yoghurt and ice cream.
The GDT Events auction service allows globally traded dairy products, bringing together buyers and sellers of dairy ingredients from 60 countries to trade US$2-3 billion annually. Whole milk powder and skim milk powder account for 80pc of quantity traded, with 12-month average prices for WMP and SMP down 21pc and 29pc respectively in 2023. SMP reached a four-year low in September, while WMP reached an eight-year low in August.
SMP reached a 5-year high in April 2022, with prices reaching E4,254/MT.
North Asia and South East Asia accounted for 61pc of bidders last year on the GDT.
In its most recent trade, prices for SMP were € 2,359 up 1.4pc, while butter was up 3.1pc, butter milk poweder down 0.5pc and cheddar up 4.1pc.
Established in 1972, Kerry has grown to become a global multi-national, providing taste and nutrition solutions to the food, beverage and pharmaceutical markets. Its Kerry Dairy Ireland division has been producing products for over 50 years.
Other sellers on the GDI include Arla, Dairy America, NZMP, the the business to business dairy ingredients brand of Fonterra, New Zealand’s main dairy processor as well as BMI, a German processor with more than 1,200 German dairy farmers.
GlobalDairyTrade Holdings Limited (GDT) is owned and managed as a strategic partnership between the European Energy Exchange (EEX), Fonterra Cooperative Group, and New Zealand’s Exchange (NZX).
