1. What is GDT Marketplace?
2. Why are you creating another platform?
3. What does the launch of GDT Marketplace mean for the existing auction platform, GDT Events?
4. How is GDT Marketplace different to GDT Events?
5. What do I need to know about joining GDT Marketplace?
6. How do I register for GDT Marketplace?
7. Who are the sellers on GDT Marketplace?
8. Who will be the buyers on GDT Marketplace?
9. How many sellers can join GDT Marketplace?
10. What products will list on GDT Marketplace?
11. What is the smallest amount of product a buyer can purchase or a seller can list?
12. Do buyers have to pay a fee to purchase products on GDT Marketplace?
13. Do sellers have to pay a fee for listing a product?
14. How do participants trade on GDT Marketplace?
15. How visible are the prices?
16. How will sales on GDT Marketplace be confirmed and delivered?
GDT Marketplace is a new online trading platform which directly connects buyers and sellers and facilitates transactions of any dairy product, at any time, in any quantity. Operating 24/7, GDT Marketplace offers flexibility, immediacy and privacy to complement the scale and transparency of GDT Events.
The market is constantly evolving and we need to ensure Global Dairy Trade continues to lead the way in supporting the online trade of dairy.
GDT Marketplace enables us to facilitate and support our customers as they pursue more ecommerce methods of doing business, and provides a flexible and convenient channel for buyers and sellers around the world.
GDT Events will continue to provide credible, transparent, price discovery through its twice-monthly Trading Events, as it has since 2008. GDT Marketplace complements GDT Events so that together the two services create an unmatched offering for our customers.
GDT Events will remain the best solution for trading large volume, generic ingredient products.
This platform will continue to bring buyers and sellers of large-volume products together to discover transparent reference prices for globally traded dairy.
GDT Marketplace offers the convenience and flexibility to sell a broad range of dairy ingredient products, in any quantity, anytime.
GDT Marketplace will roll out progressively over time. Initially we are working closely with a selected number of sellers as we continue to develop the platform. We will then open up to a wider group of participants.
During the progressive roll-out sellers will invite those customers that typically purchase the products they have listed to register via the GDT website.
We will keep you up-to-date with developments and will forward your interest to the participating sellers.
Fonterra was confirmed as the first seller at the launch in June 2016. Since that time four other sellers have joined the platform from Europe, USA, Asia and Oceania.
Initially, the buyers will be determined by the sellers as they invite their customers, both international and domestic, to register and then purchase products via GDT Marketplace.
Once we have moved through the progressive roll-out, anyone with a serious intent to purchase dairy products will be able to join the platform and seek eligibility from sellers.
Global Dairy Trade will discuss interests and opportunities with each prospective seller. Over time, GDT Marketplace will be made available through a managed, progressive expansion across market regions and product categories.
Sellers can register their interest via the Global Dairy Trade website or email email@example.com.
Once we have moved through the progressive roll-out the platform will become increasingly available to all dairy sellers.
We’re expecting over time to have a wide range of both standard and specialty products. Each seller will decide the products they wish to list on the platform.
There is no set limit. GDT Marketplace is suitable for any dairy product, and we would expect to see a range of quantities offered, from larger ingredients in metric tonnes to smaller listings for speciality or high value products in kgs or lbs.
A seller can set a minimum purchase quantity, if they have a minimum offer requirement. i.e. 1 full container loading. A buyer will need to purchase at least the minimum quantity set by the seller for each listing.
Yes – fees are based on value of a completed listing, i.e. no fixed payments or minimum volume requirements.
Sellers create listings choosing either a Fixed Price or Tender listing model, and select who is approved to buy for each listing.
A listing is an offer of product for sale.
A Fixed Price listing is where the seller creates a listing specifying the price and quantity available, and an approved buyer can purchase by entering their purchase quantity and clicking on a Trade Now button.
A Tender listing is where the seller creates a listing specifying a reserve price and supply range on offer and approved buyers submit sealed bids. Immediately on close of the Tender, the auction system determines the successful bids, quantities and winning prices in accordance with the mechanism set out in the market rules.
Pricing on GDT Marketplace is private between the seller and their approved buyers. The prices for Fixed Price listings are only visible to buyers granted approval for a listings. For Tender listings, the reserve price is not visible to any buyers, and the winning prices are disclosed to the winning buyers only.
Confirmation of sales will be made directly to the buyer via the GDT Marketplace platform.
Sellers will provide buyers with as much information as possible in each listing to allow a buyer to work out the delivered price.
The terms of supply are in each sellers’ supply agreement and the agreed payment terms and shipping costs are provided to buyers via a contracting information file, accessible within each listing. Buyers should review their contracting information before they buy or bid.