This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Chart Focus March 2015
Chart Focus is a six-monthly publication by GlobalDairyTrade to provide more information about GDT to the marketplace.
This edition of Chart Focus updates the September edition and includes quantity sold charts by product group. A brief description accompanies charts where appropriate but it is GlobalDairyTrade’s intention to avoid commenting on trends and implications. With the exception of price data (which is publicly available), all analysis is up to December 2014.
Public information is available for download at http://www.globaldairytrade.info/en/product-results/ download -historical-data/
Published by GlobalDairyTrade Holdings Ltd.PO Box 106561, Auckland 1143 | Level 12, 23 Custom Street East, Auckland 1010, New Zealand
Abbreviations:
GDT GlobalDairyTrade AMF Anhydrous Milk Fat
AU Australia BMP Butter Milk Powder
EU Europe MPC70 Milk Protein Concentrate 70
IN India RenCas Rennet Casein
NZ New Zealand SMP Skim Milk Powder
US United States of America WMP Whole Milk Powder
CP Contract Period SWP Sweet Whey Powder
3
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Key developments since inception
Fonterra WMP GDT Starts
Fonterra AMF
Fonterra SMP
Fonterra BMP
Fonterra MPC70 & RenCas
Fonterra Cheddar
DairyAmerica SMP
Arla Foods SMP
Murray Goulburn Lactose
Fonterra Butter
Amul SMP and WMP
DairyAmerica Butter
Euroserum SMP
Arla Foods SMP
Land O’Lakes SMP
DairyAmerica Lactic Butter
Molkerei Ammerland SWP
Fonterra Australia SMP
Arla Foods Ingredients Lactose
Twice monthly events
Market Rules established
Multi-Seller Platform
Monthly Shipment Periods
Advisory Board Established
Chart Focus Launched
GDT’s 100th Trading Event
Trading Event Duration Reduced
New GDT Website Launched
Trading Event Duration Reduced
2015
2008
2009
2010
2011
2012
2013
2014
Sellers and Products* GDT Platform Developments
Key developments since inception
Refer to page 22 for data *New sellers are shown on date of first sale
4
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Growth trendsThis chart details GlobalDairyTrade’s growth in number of bidders and annual quantity of product sold.Growth trends
This chart details GlobalDairyTrade’s growth in number of bidders and annual quantity of product sold.
Refer to page 23 for data
12 month sold quantity (LHS)
Approved bidders* (RHS)
0
100
200
300
400
500
600
700
800
900
1,000
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
Approved Bidders Sold Quantity (MT)
* Bidder numbers will vary as new bidders register and inactive bidders are terminated (after 18 months of non-participation).
5
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Sellers and buyersThis page shows GlobalDairyTrade’s current sellers and the geographical distribution of participating bidders per Trading Event.
Sellers and buyers This page shows GlobalDairyTrade’s current sellers and the average geographical distribution of participating bidders per Trading Event.
Refer to page 24 for data
North Asia 28%
South East Asia & Oceania
21% Europe
12%
Africa 12%
Middle East 11%
South & Central America
8%
North America 8%
PPaarrttiicciippaattiinngg bbiiddddeerrss bbyy rreeggiioonn January - December 2014
GGDDTT SSeelllleerrss
6
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
GDT Price IndexThe GDT Price Index shows how the prices of products traded on GDT have evolved over time, where price changes are weighted by quantities sold on GDT. Further information on the GDT Price Index is available at www.globaldairytrade.info/en/resources/gdt-price-index/
6
GDT Price Index The GDT Price Index shows how the prices of products traded on GDT have evolved over time, where price changes are weighted by quantities sold on GDT. Further information on the GDT Price Index is available at www.globaldairytrade.info/en/resources/gdt-price-index/
Refer to page 25 for data
GlobalDairyTrade Chart Focus March 2015
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
GDT Price Index
7
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
7
Shipment profile This chart shows the seasonal profile of product shipments for all products offered in GDT trading events from January 2011 until December 2014.
Refer to page 26 for data
GlobalDairyTrade Chart Focus March 2015
0
20,000
40,000
60,000
80,000
100,000
120,000
Quantity (MT) Quantity shipped during calendar month
Shipment profileThis chart shows the seasonal profile of product shipments for all products offered in GDT trading events from January 2011 until December 2014.
8
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Distribution of salesThe left chart shows the distribution of sold quantity by product group for the 12 months to December 2014. The chart on the right shows percentage of product sold in each contract period (CP)* for the 12 months to December 2014.
WMP 57%
SMP 23%
AMF 9%
Butter 6%
Cheddar 3% Other*
2%
8
Distribution of sales The left chart shows the distribution of sold quantity by product group for the 12 months to December 2014. The chart on the right shows percentage of product sold in each contract period (CP) for the 12 months to December 2014.
Refer to page 27 for data
CP1 5%
CP2 44%
CP3 25%
CP4 15%
CP5 8%
CP6 3%
GlobalDairyTrade Chart Focus March 2015
*Contract Period (CP), refers to the month when product is shipped. Product sold in CP1 is shipped in the month after the trading event when it was purchased, CP2 is shipped two months after, etc.
Sold quantity by contract period
January – December 2014
Sold quantity by product
January – December 2014
*Other includes BMP, Lactose, MPC70, Rennet Casein and SWP
9
Bidders’ purchase distributions The left chart shows the number of transactions* by size category as a share of total transactions over the year to December 2014. The right chart shows the quantity purchased by size category as a share of total purchases over the same period.
Refer to page 28 for data
GlobalDairyTrade Chart Focus March 2015
1-50 MT 55%
51-100 MT 21%
101-500 MT 22%
501+ MT 2% 1-50 MT
16%
51-100 MT 17%
101-500 MT 50%
501+ MT 17%
Distribution of quantity purchasedby size category
January – December 2014
Distribution of transactionsby size category
January – December 2014
*A transaction represents a purchase within a product group and contract period, in a Trading Event.
Bidders’ purchase distributionsThe left chart shows the number of transactions* by size category as a share of total transactions over the year to December 2014. The right chart shows the quantity purchased by size category as a share of total purchases over the same period.
For instance, 2% of transactions were purchases of more than 500 MT. These transactions (i.e. over 500 MT) accounted for 17% of the total quantity purchased over this period.
9
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Participating bidders: AMF, SMP and WMPThis chart shows the number of bidders who bid on each product in at least one trading event over the 12 months until December of the respective year.
10
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
10
Participating bidders: AMF, SMP and WMP This chart shows the number of bidders who actively bid on each product in at least one trading event over the 12 months until December of the respective year.
Refer to page 29 for data
GlobalDairyTrade Chart Focus March 2015
0
50
100
150
200
250
300
AMF SMP WMP
Number of Participating Bidders
2011 2012 2013 2014
Participating bidders: BMP, Butter, Cheddar, Lactose, RenCas and SWPThis chart shows the number of bidders who bid on each product in at least one trading event over the 12 months until December of the respective year.
11
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
11
Participating bidders: BMP, Butter, Cheddar, Lactose, RenCas and SWP This chart shows the number of bidders who actively bid on each product in at least one trading event over the 12 months until December of the respective year.
Refer to page 29 for data
GlobalDairyTrade Chart Focus March 2015
0
20
40
60
80
100
120
BMP Butter Cheddar Lactose RenCas SWP
Number of Participating Bidders
2011 2012 2013 2014
Offer quantity and bidding demandThis chart shows the average quarterly offer quantity and first round bidding demand. Bid ratio represents the average quarterly ratio of demand to supply in the first round of a trading event, e.g., a demand ratio of two indicates that the total demand in the first round was twice the available supply.
12
Offer quantity and bidding demand This chart shows the average quarterly offer quantity and first round bidding demand. Bid ratio represents the average quarterly ratio of demand to supply in the first round of a trading event, e.g., a demand ratio of two indicates that the total demand in the first round was twice the available supply.
Refer to page 30 for data
GlobalDairyTrade Chart Focus March 2015
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
0
20,000
40,000
60,000
80,000
100,000
120,000
Bid Ratio Quantity (MT)
Quarterly average offer quantity
Quarterly average first round bidding demand
Bid ratio
12
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Bidder eligibility and total supply
13
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
13
Bidder eligibility and total supply Each seller determines which bidder can purchase their products by assigning eligibility. Total eligibility represents the maximum quantity bidders can purchase across all sellers. This chart shows bidder eligibility and supply available to bidders averaged across six trading events per quarter. The ratio of eligibility to supply indicates how much eligibility in metric tonnes is available per metric tonne of supply.
GlobalDairyTrade Chart Focus March 2015
Refer to page 30 for data
0
10
20
30
40
50
60
70
80
90
100
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
Ratio of Eligibility to Supply
Eligibility Quantity (MT)
Eligibility Supply Eligibility to Supply Ratio
Each seller determines which bidder can purchase their products by assigning eligibility. Total eligibility represents the maximum quantity bidders can purchase across all sellers. This chart shows bidder eligibility and supply available to bidders averaged across six trading events per quarter. The ratio of eligibility to supply indicates how much eligibility in metric tonnes is available per metric tonne of supply.
Eligibility levels are impacted by the number of sellers offering products in an auction and by the level of supply offered by participating sellers.
Quantity sold per month: All products, WMP, SMP and AMFThese charts show the quantities of all products, WMP, SMP and AMF sold throughout 2011, 2012, 2013 and 2014. Please note, the quantity scales vary between each chart.
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Quantity (MT)
2011 2012 2013 2014
0
5,000
10,000
15,000
20,000
25,000
Quantity (MT)
2011 2012 2013 2014
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Quantity (MT)
2011 2012 2013 2014
14
Quantity sold per month: All products, WMP, SMP and AMF These charts show the quantities of All products, WMP, SMP and AMF sold throughout 2011, 2012, 2013 and 2014.
Please note, the quantity scales vary between each chart.
Refer to pages 31 & 32 for data
GlobalDairyTrade Chart Focus March 2015
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Quantity (MT)
2011 2012 2013 2014
All product groups WMP
SMP AMF
14
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Quantity sold per month: BMP, Butter, Cheddar and RenCas These charts show the quantities of BMP, Butter, Cheddar and RenCas sold throughout 2011, 2012, 2013 and 2014. Please note, the quantity scales vary between each chart.
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Quantity (MT)
2011 2012 2013 2014
BMP
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Quantity (MT)
2011 2012 2013 2014
15
Refer to pages 33 & 34 for data
GlobalDairyTrade Chart Focus March 2015
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Quantity (MT)
2011 2012 2013 2014
Butter
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Quantity (MT)
2011 2012 2013 2014
Cheddar
RenCas
Quantity sold per month: BMP, Butter, Cheddar and RenCas These charts show the quantities of BMP, butter, cheddar and RenCas sold throughout 2011, 2012, 2013 and 2014.
Please note, the quantity scales vary between each chart.
15
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
16
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Average prices: AMF, SMP and WMPThe chart shows average prices across all product specifications and sellers for short term contract periods (C1 and C2), weighted by sold quantity.
16
Average prices: AMF, SMP and WMP The chart shows average prices across all product specifications and sellers for short term contract periods (C1 and C2), weighted by sold quantity.
Refer to page 35 for data
GlobalDairyTrade Chart Focus March 2015
0
1000
2000
3000
4000
5000
6000
7000
AMF SMP WMP
Prices (USD/MT)
17
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Average prices: BMP, Butter, Cheddar and Rennet Casein The chart shows average prices across all product specifications and sellers for short term contract periods (C1 and C2), weighted by sold quantity. Gaps in the price lines reflect that no product was offered in those months.
17
Average prices: BMP, Butter, Cheddar and Rennet Casein The chart shows average prices across all product specifications and sellers for short term contract periods (C1 and C2), weighted by sold quantity. Gaps in the price lines reflect that no product was offered in those months.
Refer to page 36 for data
GlobalDairyTrade Chart Focus March 2015
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Butter BMP Cheddar RenCas
Prices (USD/MT)
18
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Average prices: SMP by regionThe chart shows average prices across all product specifications and sellers within each region for short term contract periods (C1 and C2), weighted by sold quantity.
18
Average prices: SMP by region The chart shows average prices across all product specifications and sellers within each region for short term contract periods (C1 and C2), weighted by sold quantity.
Refer to page 37 for data
GlobalDairyTrade Chart Focus March 2015
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
EU India Oceania US
Prices (USD/MT)
19
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Average prices: WMP by regionThe chart shows average prices across all product specifications and sellers within each region for short term contract periods (C1 and C2), weighted by sold quantity.
19
Average prices: WMP by region The chart shows average prices across all product specifications and sellers within each region for short term contract periods (C1 and C2), weighted by sold quantity.
Refer to page 38 for data
GlobalDairyTrade Chart Focus March 2015
0
1000
2000
3000
4000
5000
6000
7000
India Oceania
Prices (USD/MT)
20
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Average prices: Butter by regionThe chart shows average prices across all product specifications and sellers within each region for short term contract periods (C1 and C2), weighted by sold quantity.
20
Average prices: Butter by region The chart shows average prices across all product specifications and sellers within each region for short term contract periods (C1 and C2), weighted by sold quantity.
Refer to page 38 for data
GlobalDairyTrade Chart Focus March 2015
0
1000
2000
3000
4000
5000
6000
Oceania US
Prices (USD/MT)
21
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Tables
22
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Refer to page 3 for graph
Table 1 - Key developments since inception2/07/08 GDT starts
2/07/08 Fonterra (NZ) WMP offered
3/11/09 Fonterra AMF
2/03/10 Fonterra SMP
1/08/10 Fonterra BMP
1/09/10 Twice monthly events
17/05/11 Fonterra MPC70 & RenCas
19/07/11 Fonterra Cheddar
20/07/11 DairyAmerica (USA) joins as a new seller
18/08/11 Market Rules established
1/11/11 Multi-Seller Platform
1/11/11 DairyAmerica SMP
30/11/11 Murray Goulburn (Aus) joins as new seller
14/12/11 Arla Foods (EU) joins as a new seller
3/04/12 Murray Goulburn Lactose
3/04/12 Arla Foods SMP
1/05/12 Monthly Shipment Periods
21/08/12 Advisory Board Established
1/11/12 Arla Foods SMP and BMP
19/02/13 Fonterra Butter
27/03/13 Chart Focus launched
30/04/13 Amul (IN) joins as a new seller
4/06/13 Amul SMP and WMP
27/06/13 Euroserum (EU) joins as a new seller
2/07/13 DairyAmerica Butter
17/09/13 GDT's 100th Trading Event
5/11/13 Euroserum SMP
2/12/13 Arla SMP
10/12/13 Land O'Lakes (USA) joins as a new seller
21/01/14 Trading Event duration reduced
13/02/14 New GDT website launched
4/03/14 Land O'Lakes SMP
18/03/14 DairyAmerica Lactic Butter
14/07/14 Molkerei Ammerland (EU) joins as new seller
16/09/15 Molkerei Ammerland SWP
10/12/14 Fonterra Australia SMP
17/02/15 Trading Event Duration Reduced
15/04/15 Arla Foods Ingredients (EU) Lactose
Fonterra WMP GDT Starts
Fonterra AMF
Fonterra SMP
Fonterra BMP
Fonterra MPC70 & RenCas
Fonterra Cheddar
DairyAmerica SMP
Arla Foods SMP
Murray Goulburn Lactose
Fonterra Butter
Amul SMP and WMP
DairyAmerica Butter
Euroserum SMP
Arla Foods SMP
Land O’Lakes SMP
DairyAmerica Lactic Butter
Molkerei Ammerland SWP
Fonterra Australia SMP
Arla Foods Ingredients Lactose
Twice monthly events
Market Rules established
Multi-Seller Platform
Monthly Shipment Periods
Advisory Board Established
Chart Focus Launched
GDT’s 100th Trading Event
Trading Event Duration Reduced
New GDT Website Launched
Trading Event Duration Reduced
2015
2008
2009
2010
2011
2012
2013
2014
Sellers and Products* GDT Platform Developments
Key developments since inception
Refer to page 22 for data *New sellers are shown on date of first sale
23
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Refer to page 4 for graph
DateNumber of
approved bidders 12 month sold quantity (MT)
DateNumber of
approved bidders 12 month sold quantity (MT)
Jan-10 246 240,912 Jul-12 687 851,254
Feb-10 252 251,122 Aug-12 703 866,414
Mar-10 276 271,335 Sep-12 718 891,009
Apr-10 282 285,089 Oct-12 724 914,707
May-10 278 302,818 Nov-12 726 936,409
Jun-10 275 320,859 Dec-12 733 959,200
Jul-10 279 350,572 Jan-13 746 980,349
Aug-10 291 386,863 Feb-13 767 991,789
Sep-10 297 424,629 Mar-13 784 977,026
Oct-10 305 469,483 Apr-13 795 947,246
Nov-10 307 503,458 May-13 807 909,200
Dec-10 307 539,285 Jun-13 828 902,801
Jan-11 310 560,017 Jul-13 847 904,510
Feb-11 313 573,242 Aug-13 861 931,167
Mar-11 305 564,781 Sep-13 875 915,104
Apr-11 308 563,279 Oct-13 887 891,483
May-11 319 557,392 Nov-13 823 890,643
Jun-11 340 559,215 Dec-13 827 890,759
Jul-11 348 564,054 Jan-14 831 892,531
Aug-11 355 582,612 Feb-14 791 890,708
Sep-11 402 615,600 Mar-14 772 932,886
Oct-11 435 634,772 Apr-14 760 980,157
Nov-11 473 653,158 May-14 729 1,017,134
Dec-11 498 665,466 Jun-14 714 1,038,204
Jan-12 523 680,730 Jul-14 683 1,039,535
Feb-12 567 703,941 Aug-14 659 1,017,542
Mar-12 586 732,021 Sep-14 651 1,025,216
Apr-12 607 766,295 Oct-14 663 1,042,575
May-12 628 812,770 Nov-14 674 1,026,086
Jun-12 658 829,677 Dec-14 678 1,000,947
Table 2 - Growth trends
Growth trends This chart details GlobalDairyTrade’s growth in number of bidders and annual quantity of product sold.
Refer to page 23 for data
12 month sold quantity (LHS)
Approved bidders* (RHS)
0
100
200
300
400
500
600
700
800
900
1,000
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
Approved Bidders Sold Quantity (MT)
* Bidder numbers will vary as new bidders register and inactive bidders are terminated (after 18 months of non-participation).
24
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Refer to page 5 for graph
North Asia 28%
South East Asia & Oceania 21%
Europe 12%
Africa 12%
Middle East 11%
South & Central America 8%
North America 8%
Sellers and buyers This page shows GlobalDairyTrade’s current sellers and the average geographical distribution of participating bidders per Trading Event.
Refer to page 24 for data
North Asia 28%
South East Asia & Oceania
21% Europe
12%
Africa 12%
Middle East 11%
South & Central America
8%
North America 8%
PPaarrttiicciippaattiinngg bbiiddddeerrss bbyy rreeggiioonn January - December 2014
GGDDTT SSeelllleerrss
Table 3 - Participating bidders by region January 2014 – December 2014
Table 4 - GDT-Price Index
25
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
GDT Price Index The GDT Price Index shows how the prices of products traded on GDT have evolved over time, where price changes are weighted by quantities sold on GDT. Further information on the GDT Price Index is available at www.globaldairytrade.info/en/resources/gdt-price-index/
Refer to page 25 for data
GlobalDairyTrade Chart Focus March 2015
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
GDT Price Index
Table 5 - Shipment profile
DateQuantity shipped
during monthDate
Quantity shipped during month
Jan-11 68,870 Apr-13 81,065
Feb-11 58,463 May-13 54,429
Mar-11 43,022 Jun-13 35,308
Apr-11 25,453 Jul-13 26,435
May-11 21,836 Aug-13 29,451
Jun-11 25,503 Sep-13 59,460
Jul-11 28,139 Oct-13 91,799
Aug-11 41,086 Nov-13 104,543
Sep-11 63,118 Dec-13 102,895
Oct-11 69,430 Jan-14 110,407
Nov-11 52,242 Feb-14 112,663
Dec-11 73,499 Mar-14 96,173
Jan-12 80,840 Apr-14 78,048
Feb-12 83,114 May-14 78,021
Mar-12 73,501 Jun-14 77,038
Apr-12 63,710 Jul-14 68,011
May-12 57,705 Aug-14 43,693
Jun-12 66,023 Sep-14 57,766
Jul-12 70,440 Oct-14 82,807
Aug-12 27,593 Nov-14 108,713
Sep-12 48,990 Dec-14 115,573
26
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Refer to page 7 for graph7
Shipment profile This chart shows the seasonal profile of product shipments for all products offered in GDT trading events from January 2011 until December 2014.
Refer to page 26 for data
GlobalDairyTrade Chart Focus March 2015
0
20,000
40,000
60,000
80,000
100,000
120,000
Quantity (MT) Quantity shipped during calendar month
27
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
WMP 57%
SMP 23%
AMF 9%
Butter 6%
Cheddar 3% Other*
2%
8
Distribution of sales The left chart shows the distribution of sold quantity by product group for the 12 months to December 2014. The chart on the right shows percentage of product sold in each contract period (CP) for the 12 months to December 2014.
Refer to page 27 for data
CP1 5%
CP2 44%
CP3 25%
CP4 15%
CP5 8%
CP6 3%
GlobalDairyTrade Chart Focus March 2015
*Contract Period (CP), refers to the month when product is shipped. Product sold in CP1 is shipped in the month after the trading event when it was purchased, CP2 is shipped two months after, etc.
Sold quantity by contract period
January – December 2014
Sold quantity by product
January – December 2014
*Other includes BMP, Lactose, MPC70, Rennet Casein and SWP
Refer to page 8 for graph
Refer to page 8 for graph
Whole Milk Powder 57%
Skim Milk Powder 23%
Anhydrous Milkfat 9%
Butter 6%
Cheddar 4%
Other* 2%
*Other includes: BMP, MPC70, Rennet Casein, Lactose and SWP
CP1* 5%
CP2 44%
CP3 25%
CP4 14%
CP5 8%
CP6 3%
*Contract Period (CP), refers to the month when product is shipped. CP1 product is shipped in the month after the trading event when it was purchased, CP2 is shipped two months after, etc.
Table 6 - Sold quantities by product January 2014 - December 2014
Table 7 - Sold quantities by contract period January 2014 – December 2014
WMP 57%
SMP 23%
AMF 9%
Butter 6%
Cheddar 3% Other*
2%
8
Distribution of sales The left chart shows the distribution of sold quantity by product group for the 12 months to December 2014. The chart on the right shows percentage of product sold in each contract period (CP) for the 12 months to December 2014.
Refer to page 27 for data
CP1 5%
CP2 44%
CP3 25%
CP4 15%
CP5 8%
CP6 3%
GlobalDairyTrade Chart Focus March 2015
*Contract Period (CP), refers to the month when product is shipped. Product sold in CP1 is shipped in the month after the trading event when it was purchased, CP2 is shipped two months after, etc.
Sold quantity by contract period
January – December 2014
Sold quantity by product
January – December 2014
*Other includes BMP, Lactose, MPC70, Rennet Casein and SWP
28
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
1-50 MT 16%
51-100 MT 17%
101-500 MT 50%
501+ MT 17%
9
Bidders’ purchase distributions The left chart shows the number of transactions* by size category as a share of total transactions over the year to December 2014. The right chart shows the quantity purchased by size category as a share of total purchases over the same period.
Refer to page 28 for data
GlobalDairyTrade Chart Focus March 2015
1-50 MT 55%
51-100 MT 21%
101-500 MT 22%
501+ MT 2% 1-50 MT
16%
51-100 MT 17%
101-500 MT 50%
501+ MT 17%
Distribution of quantity purchasedby size category
January – December 2014
Distribution of transactionsby size category
January – December 2014
*A transaction represents a purchase within a product group and contract period, in a Trading Event.
Refer to page 9 for graph
Refer to page 9 for graph
1-50 MT 55%
51-100 MT 21%
101-500 MT 22%
501+ MT 2%
*A transaction represents a purchase within a product group and contract period, in a Trading Event
9
Bidders’ purchase distributions The left chart shows the number of transactions* by size category as a share of total transactions over the year to December 2014. The right chart shows the quantity purchased by size category as a share of total purchases over the same period.
Refer to page 28 for data
GlobalDairyTrade Chart Focus March 2015
1-50 MT 55%
51-100 MT 21%
101-500 MT 22%
501+ MT 2% 1-50 MT
16%
51-100 MT 17%
101-500 MT 50%
501+ MT 17%
Distribution of quantity purchasedby size category
January – December 2014
Distribution of transactionsby size category
January – December 2014
*A transaction represents a purchase within a product group and contract period, in a Trading Event.
Table 8 - Distribution of transactions by size category January 2014 - December 2014
Table 9 - Distribution of quantity purchased by size category January 2014 - December 2014
29
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Refer to page 10 for graph
Refer to page 11 for graph
Year BMP Butter Cheddar Lactose RenCas SWP
2011 46 61 51
2012 48 73 12 59
2013 52 95 61 3 49
2014 43 105 65 2 45 15
Table 10 - Participating bidders: AMF, SMP and WMP
Participating bidders: AMF, SMP and WMP This chart shows the number of bidders who actively bid on each product in at least one trading event over the 12 months until December of the respective year.
Refer to page 29 for data
GlobalDairyTrade Chart Focus March 2015
0
50
100
150
200
250
300
AMF SMP WMP
Number of Participating Bidders
2011 2012 2013 2014
11
Participating bidders: BMP, Butter, Cheddar, Lactose, RenCas and SWP This chart shows the number of bidders who actively bid on each product in at least one trading event over the 12 months until December of the respective year.
Refer to page 29 for data
GlobalDairyTrade Chart Focus March 2015
0
20
40
60
80
100
120
BMP Butter Cheddar Lactose RenCas SWP
Number of Participating Bidders
2011 2012 2013 2014
12
Offer quantity and bidding demand This chart shows the average quarterly offer quantity and first round bidding demand. Bid ratio represents the average quarterly ratio of demand to supply in the first round of a trading event, e.g., a demand ratio of two indicates that the total demand in the first round was twice the available supply.
Refer to page 30 for data
GlobalDairyTrade Chart Focus March 2015
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
0
20,000
40,000
60,000
80,000
100,000
120,000
Bid Ratio Quantity (MT)
Quarterly average offer quantity
Quarterly average first round bidding demand
Bid ratio
13
Bidder eligibility and total supply Each seller determines which bidder can purchase their products by assigning eligibility. Total eligibility represents the maximum quantity bidders can purchase across all sellers. This chart shows bidder eligibility and supply available to bidders averaged across six trading events per quarter. The ratio of eligibility to supply indicates how much eligibility in metric tonnes is available per metric tonne of supply.
GlobalDairyTrade Chart Focus March 2015
Refer to page 30 for data
0
10
20
30
40
50
60
70
80
90
100
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
Ratio of Eligibility to Supply
Eligibility Quantity (MT)
Eligibility Supply Eligibility to Supply Ratio
30
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Date Quarterly average offer quantity
Quarterly average first round bidding demand Bid ratio
2011-Q1 18,550 69,881 3.8
2011-Q2 14,775 50,275 3.4
2011-Q3 36,878 77,904 2.1
2011-Q4 41,216 91,786 2.2
2012-Q1 29,816 66,909 2.2
2012-Q2 31,672 64,148 2.0
2012-Q3 47,491 97,727 2.1
2012-Q4 53,107 109,505 2.1
2013-Q1 32,981 102,219 3.1
2013-Q2 19,454 56,825 2.9
2013-Q3 49,607 110,641 2.2
2013-Q4 49,991 117,309 2.3
2014-Q1 40,206 102,673 2.6
2014-Q2 37,240 76,793 2.1
2014-Q3 48,622 78,435 1.6
2014-Q4 45,102 80,300 1.8
Date Supply Eligibility Eligibility to Supply Ratio
2011- Q1 18,550 592,986 32.0
2011- Q2 14,775 589,192 39.9
2011- Q3 36,878 603,834 16.4
2011- Q4 39,404 656,663 16.7
2012- Q1 29,816 681,882 22.9
2012- Q2 31,672 678,706 21.4
2012- Q3 47,491 671,437 14.1
2012- Q4 53,107 738,691 13.9
2013- Q1 32,981 808,452 24.5
2013- Q2 19,454 884,445 45.5
2013- Q3 49,607 1,124,425 22.7
2013- Q4 49,991 1,572,424 31.5
2014- Q1 40,206 1,674,530 41.6
2014- Q2 37,240 1,358,262 36.5
2014- Q3 48,622 840,530 17.3
2014- Q4 45,102 818,250 18.1
Table 13 - Bidder eligibility and total supply
Table 12 - Offer quantity and bidding demand
Refer to page 12 for graph
Refer to page 13 for graph
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Quantity (MT)
2011 2012 2013 2014
0
5,000
10,000
15,000
20,000
25,000
Quantity (MT)
2011 2012 2013 2014
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Quantity (MT)
2011 2012 2013 2014
14
Quantity sold per month: All products, WMP, SMP and AMF These charts show the quantities of All products, WMP, SMP and AMF sold throughout 2011, 2012, 2013 and 2014.
Please note, the quantity scales vary between each chart.
Refer to pages 31 & 32 for data
GlobalDairyTrade Chart Focus March 2015
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Quantity (MT)
2011 2012 2013 2014
All product groups WMP
SMP AMF
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Quantity (MT)
2011 2012 2013 2014
0
5,000
10,000
15,000
20,000
25,000
Quantity (MT)
2011 2012 2013 2014
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Quantity (MT)
2011 2012 2013 2014
14
Quantity sold per month: All products, WMP, SMP and AMF These charts show the quantities of All products, WMP, SMP and AMF sold throughout 2011, 2012, 2013 and 2014.
Please note, the quantity scales vary between each chart.
Refer to pages 31 & 32 for data
GlobalDairyTrade Chart Focus March 2015
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Quantity (MT)
2011 2012 2013 2014
All product groups WMP
SMP AMF
31
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
2011 2012 2013 2014
January 49,257 63,449 84,590 87,145
February 37,139 59,370 70,759 69,630
March 24,599 51,424 37,577 79,711
April 24,437 58,126 28,931 75,856
May 26,167 72,245 34,874 71,851
June 36,824 53,368 47,926 68,996
July 52,915 74,160 76,838 78,169
August 74,135 89,074 116,428 94,767
September 90,641 114,851 99,507 107,561
October 87,317 110,782 87,673 105,442
November 79,626 101,366 100,765 84,782
December 75,697 98,745 99,142 74,163
2011 2012 2013 2014
January 36,000 38,801 56,866 55,017
February 24,510 38,039 42,842 37,324
March 14,000 29,880 15,922 42,813
April 14,945 35,187 9,829 39,131
May 14,454 44,907 17,553 35,596
June 25,024 30,776 26,105 34,593
July 31,981 36,836 41,169 42,498
August 43,921 51,547 75,027 56,356
September 51,989 73,602 58,386 66,206
October 48,770 68,907 47,894 64,696
November 45,950 65,915 61,273 49,664
December 44,012 65,304 64,535 47,018
Table 14 - Quantity sold per month: All Products
Table 15 - Quantity sold per month: WMP
Refer to page 14 for graph
Refer to page 14 for graph
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Quantity (MT)
2011 2012 2013 2014
0
5,000
10,000
15,000
20,000
25,000
Quantity (MT)
2011 2012 2013 2014
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Quantity (MT)
2011 2012 2013 2014
14
Quantity sold per month: All products, WMP, SMP and AMF These charts show the quantities of All products, WMP, SMP and AMF sold throughout 2011, 2012, 2013 and 2014.
Please note, the quantity scales vary between each chart.
Refer to pages 31 & 32 for data
GlobalDairyTrade Chart Focus March 2015
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Quantity (MT)
2011 2012 2013 2014
All product groups WMP
SMP AMF
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Quantity (MT)
2011 2012 2013 2014
0
5,000
10,000
15,000
20,000
25,000
Quantity (MT)
2011 2012 2013 2014
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Quantity (MT)
2011 2012 2013 2014
14
Quantity sold per month: All products, WMP, SMP and AMF These charts show the quantities of All products, WMP, SMP and AMF sold throughout 2011, 2012, 2013 and 2014.
Please note, the quantity scales vary between each chart.
Refer to pages 31 & 32 for data
GlobalDairyTrade Chart Focus March 2015
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Quantity (MT)
2011 2012 2013 2014
All product groups WMP
SMP AMF
32
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Refer to page 14 for graph
Refer to page 14 for graph
2011 2012 2013 2014
January 8,200 12,377 12,675 14,899
February 7,782 9,239 12,810 15,735
March 5,694 9,647 8,890 20,284
April 4,592 11,710 8,998 20,399
May 4,187 13,702 8,994 23,052
June 3,911 10,661 12,474 19,831
July 9,891 20,431 19,649 17,852
August 15,134 21,728 22,926 20,378
September 21,319 21,581 22,838 23,688
October 20,022 20,649 20,679 22,936
November 15,778 16,875 20,838 17,586
December 16,875 17,155 17,277 11,825
2011 2012 2013 2014
January 4,650 7,641 9,320 7,820
February 4,847 7,672 8,263 8,508
March 4,905 6,124 5,300 7,836
April 4,900 6,416 5,033 6,879
May 7,208 8,876 4,378 5,262
June 7,428 7,118 4,276 8,403
July 8,925 10,747 6,800 8,507
August 10,950 9,222 8,723 6,793
September 11,191 11,212 8,137 6,649
October 11,331 12,051 7,837 6,381
November 10,633 12,013 6,721 6,602
December 8,301 10,208 6,708 5,817
Table 17 - Quantity sold per month: AMF
Table 16 - Quantity sold per month: SMP
33
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Quantity (MT)
2011 2012 2013 2014
BMP
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Quantity (MT)
2011 2012 2013 2014
15
Refer to pages 33 & 34 for data
GlobalDairyTrade Chart Focus March 2015
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Quantity (MT)
2011 2012 2013 2014
Butter
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Quantity (MT)
2011 2012 2013 2014
Cheddar
RenCas
Quantity sold per month: BMP, Butter, Cheddar and RenCas These charts show the quantities of BMP, butter, cheddar and RenCas sold throughout 2011, 2012, 2013 and 2014.
Please note, the quantity scales vary between each chart.
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Quantity (MT)
2011 2012 2013 2014
BMP
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Quantity (MT)
2011 2012 2013 2014
15
Refer to pages 33 & 34 for data
GlobalDairyTrade Chart Focus March 2015
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Quantity (MT)
2011 2012 2013 2014
Butter
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Quantity (MT)
2011 2012 2013 2014
Cheddar
RenCas
Quantity sold per month: BMP, Butter, Cheddar and RenCas These charts show the quantities of BMP, butter, cheddar and RenCas sold throughout 2011, 2012, 2013 and 2014.
Please note, the quantity scales vary between each chart.
Refer to page 15 for graph
Refer to page 15 for graph
Table 19 - Quantity sold per month: Butter
Table 18 - Quantity sold per month: Cheddar
2011 2012 2013 2014
January 2,959 4,290 3,060
February 3,221 3,387 2,560
March 4,027 2,291 2,426
April 3,601 880 2,187
May 3,380 300 1,408
June 2,692 590 1,093
July 960 3,558 1,764 2,340
August 2,118 3,963 2,710 3,503
September 3,253 5,418 3,453 3,835
October 4,314 6,196 2,794 4,124
November 4,697 4,820 2,931 4,616
December 4,248 4,628 2,965 4,040
2011 2012 2013 2014
January 5,053
February 1,793 4,422
March 3,686 5,427
April 3,360 6,324
May 2,713 5,707
June 3,419 4,147
July 5,848 5,648
August 5,065 5,683
September 4,808 5,002
October 6,557 5,111
November 7,167 4,373
December 6,320 3,862
34
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Quantity (MT)
2011 2012 2013 2014
BMP
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Quantity (MT)
2011 2012 2013 2014
15
Refer to pages 33 & 34 for data
GlobalDairyTrade Chart Focus March 2015
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Quantity (MT)
2011 2012 2013 2014
Butter
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Quantity (MT)
2011 2012 2013 2014
Cheddar
RenCas
Quantity sold per month: BMP, Butter, Cheddar and RenCas These charts show the quantities of BMP, butter, cheddar and RenCas sold throughout 2011, 2012, 2013 and 2014.
Please note, the quantity scales vary between each chart.
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Quantity (MT)
2011 2012 2013 2014
BMP
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Quantity (MT)
2011 2012 2013 2014
15
Refer to pages 33 & 34 for data
GlobalDairyTrade Chart Focus March 2015
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Quantity (MT)
2011 2012 2013 2014
Butter
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Quantity (MT)
2011 2012 2013 2014
Cheddar
RenCas
Quantity sold per month: BMP, Butter, Cheddar and RenCas These charts show the quantities of BMP, butter, cheddar and RenCas sold throughout 2011, 2012, 2013 and 2014.
Please note, the quantity scales vary between each chart.
Refer to page 15 for graph
Refer to page 15 for graph
Table 21 - Quantity sold per month: RenCas
Table 20 - Quantity sold per month: BMP
2011 2012 2013 2014
January 407 700 384 606
February 0 0 575 572
March 0 0 575 499
April 0 0 606 389
May 0 0 695 589
June 0 1,012 598 640
July 557 1,088 750 868
August 1,034 1,269 886 881
September 1,864 1,276 753 914
October 1,859 1,174 766 811
November 1,546 497 761 693
December 1,150 400 525 530
2011 2012 2013 2014
January 971 1,055 573
February 1,199 1,071 409
March 1,746 913 426
April 793 225 447
May 318 992 241 237
June 461 858 464 289
July 601 1,080 858 456
August 978 1,144 1,091 1,123
September 1,025 1,422 1,082 1,267
October 1,021 1,755 1,109 1,383
November 1,022 964 940 1,248
December 1,111 1,050 662 1,071
35
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Table 22 - Average prices: AMF, SMP and WMP
Date AMF SMP WMP Date AMF SMP WMP Date AMF SMP WMP
Average prices: AMF, SMP and WMP The chart shows average prices across all product specifications and sellers for short term contract periods (C1 and C2), weighted by sold quantity.
Refer to page 35 for data
GlobalDairyTrade Chart Focus March 2015
0
1000
2000
3000
4000
5000
6000
7000
AMF SMP WMP
Prices (USD/MT)
Refer to page 16 for graph
36
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Table 23 - Average prices: BMP, Butter, Cheddar and RenCas
Average prices: BMP, Butter, Cheddar and Rennet Casein The chart shows average prices across all product specifications and sellers for short term contract periods (C1 and C2), weighted by sold quantity. Gaps in the price lines reflect that no product was offered in those months.
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
18
Average prices: SMP by region The chart shows average prices across all product specifications and sellers within each region for short term contract periods (C1 and C2), weighted by sold quantity.
Refer to page 37 for data
GlobalDairyTrade Chart Focus March 2015
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
EU India Oceania US
Prices (USD/MT)
38
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: WMP by region The chart shows average prices across all product specifications and sellers within each region for short term contract periods (C1 and C2), weighted by sold quantity.
Refer to page 38 for data
GlobalDairyTrade Chart Focus March 2015
0
1000
2000
3000
4000
5000
6000
7000
India Oceania
Prices (USD/MT)
20
Average prices: Butter by region The chart shows average prices across all product specifications and sellers within each region for short term contract periods (C1 and C2), weighted by sold quantity.
Refer to page 38 for data
GlobalDairyTrade Chart Focus March 2015
0
1000
2000
3000
4000
5000
6000
Oceania US
Prices (USD/MT)
39
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17
Average prices: SMP by region 18
Average prices: WMP by region 19
Average prices: Butter by region 20
Tables 22-38
Disclaimer
The data contained in this document are provided subject to the Terms of Use (”Terms”) published on www.globaldairytrade.info as applicable to information materials provided or published on that site. By accessing, viewing, or downloading these data, you acknowledge the application of the terms.
Use of this information: All information published in this publication may be reproduced provided the user acknowledges GlobalDairyTrade as the source.
GlobalDairyTrade Chart Focus March 2015
INDEX PAGE
Key developments since inception 3
Growth Trends 4
Sellers and Buyers 5
GDT Price Index 6
Shipment Profile 7
Distribution of sales 8-9
Participating bidders: AMF, SMP, WMP 10
Participating bidders: BMP, Butter, Cheddar, Lactose, and RenCas 11
Offer quantities and bidding demand 12
Bidder eligibility and total supply 13
Quantity sold per month: All products, WMP, SMP, and AMF 14
Quantity sold per month: BMP, Butter, Cheddar, Lactose and RenCas 15
Average Prices: AMF, SMP, WMP 16
Average Prices: BMP, Butter, Cheddar and RenCas 17