Nearly two years ago, we established GDT Europe GmbH and our hub office in Berlin to better serve our European customers. Europe, being one of the largest milk pools and the single largest dairy exporting region globally, is a top priority for GDT.
In response to feedback from our European dairy participants and to better align with market practices in Europe, we have standardised the Incoterm to FCA (Free Carrier) for our European-based sellers. This decision is in accordance with our Trading Rules, specifically the provisions regarding contract formation and pricing basis.
Starting from TE361, the winning prices for European-sourced products that we publish will now reflect European Incoterm usage, in line with other price publications. This update is designed to provide greater flexibility and support for our European-based buyers and sellers, enhancing their experience on GDT Events.
For sellers in the USA and Oceania, the FAS (Free Alongside Ship) Incoterm will continue to apply.
Incoterms are now featured in the GDT Events Results Explanatory Notes. Furthermore, we've introduced a toggle feature on the GDT Events results pages, enabling users to switch between viewing Trading Event results in euros (€EUR) or US dollars ($USD). Euro prices are determined using the latest closing day exchange rate published by the European Central Bank prior to each Trading Event.
