Fonterra has increased the volume of product forecast to be sold via GDT over the next 12 months to over 900,000 tons of product. This includes 565,000 tons of whole milk powder (WMP).
In the last 12 months to June 2012 New Zealand exports of WMP totaled just over 1.1 million tons. Assuming exports from New Zealand in the next 12 months are equal to the previous 12 months to June 2012, this would indicate more than 50% of the WMP exported from New Zealand will be sold via GDT.
Based on the same assumption, 45% of skim milk powder (SMP) sales will be made through GDT and 64% of anhydrous milkfat (AMF) sales.
Source: NZXÂ Futures