Dairy tycoon, Fonterra plans to expand its trade online. This would be adopted twice in a month, at present this online trade is once in a month. The Fonterra is looking for the plan to start in September. Fonterra produces dairy ingredients worth $2 million every year. It is the biggest processor of milk worldwide.

According to Kelvin Wickham, this step by the dairy giant is taken in order to enlarge the customer foundation. Wickham is the Managing Director for Fonterra Global Trade.

He said that this auction on-line aims to give the latest information and will also balance the other market forces, i. e. supply and demand. The purpose is also to make its pricing methods more transparent and clean, in order to do so, a bid won by any consumer will be put online immediately and there won't be any unknown negotiations, which can bother the customers.

The Company had started its Global Dairy Trade Platform in the year 2008. This plan proved itself to be successful. According to the data of a recent survey, clients keep demanding for frequent business.

Fonterra has sold about 500,000 metric tonnes of products, to the bidders in 56 countries. This business online is worth $ 2.3 billion. About 60% online sale is made through whole milk powder.