Global Dairy Trade invites feedback on two proposed changes to the GDT Trading Event Rules, designed to bring price transparency to more supply regions through increased participation from sellers.
The GDT Events Oversight Board has reviewed the two proposals and will vote on them following completion of public consultation.
The first rule change proposal will enable an average winning price to be published as a substitute, or in addition, to each seller’s individual winning prices being published. The new rule will enable each seller to decide whether their individual prices are published, while ensuring that price transparency is maintained through the publication of market-relevant average prices.
This change will support the further spread of price transparency while also addressing one of the elements that deters some sellers from various regions from participating on the platform. This includes the US lactose offering on GDT Events, which we expect to relaunch without needing to pool supply across multiple sellers.
Current sellers including, Amul, Arla, Arla Foods Ingredients and Fonterra have confirmed that they will continue to publish individual winning prices.
The second rule change proposal will amend an existing rule to close a loophole by which bidders can view pre-event data for products they are restricted from buying.
A full explanation of these proposals is available here.
GDT invites feedback on these proposed rule changes. Feedback must be submitted via email to email@example.com with the subject line: "Feedback on proposed rule changes June 2018." Submissions close on Wednesday 20 June 2018.