Silver Spring, MD, March 5, 2018—As part of the organic dairy initiative launched by Mercaris in 2017, the company successfully held a first-of-its-kind online auction for certified organic nonfat dried milk powder (NFDM). The online auction, held March 1, closed 50,000 pounds of NFDM at $2.47 per pound for delivery to Minnesota, roughly 3.5 times the price for conventional NFDM. The auction was oversubscribed and saw active participation from several dairy processors in the Midwest. “With industry participation, Mercaris is providing a solution to the unique challenges of the organic dairy supply chain, including balancing inventory and price discovery,” said Kellee James, Founder & CEO.
The Mercaris online Auctions Platform is a pioneering tool that enables buyers and sellers to find new markets and more profitably trade organic commodities. Participants can negotiate prices in real-time, view an order stack, and see bid-ask spreads. The platform also facilitates electronic payment upon delivery. In 2017, the Auctions Platform traded over 420,000 bushels of organic and non-GMO grains, oilseeds, and small grains.
Since November 2013, Mercaris has been helping its customers capitalize on growing demand for organic & non-GMO foods by providing market access and services tailored to the needs of the identity-preserved agriculture industry. Mercaris focuses its services on identity-preserved commodities, including organic and non-GMO corn, soybean, meal, and wheat markets across all regions of the United States and Canada, and recently launched its organic dairy initiative. In addition to providing improved market access through its online Auctions Platform, Mercaris also provides extensive market data and analysis—including pricing data—to clients in a customizable and user-friendly format.
For more information about Mercaris or the online Auctions Platform, contact Mercaris Market Operations at 612-249-0070 or [email protected]