BOSTON--(BUSINESS WIRE)--CRA International, Inc. d/b/a Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that annual sales of dairy products on GlobalDairyTrade, the Internet-based trading platform for internationally-traded commodity dairy products, surpassed one million metric tons during the past 12 months. This represents a 27% increase in the quantity sold over the past two years.
CRA developed the GlobalDairyTrade platform in 2008 initially for Fonterra, a leading global dairy company based in New Zealand. As the independent Trading Manager of GlobalDairyTrade, CRA conducts twice monthly trading events and continues to enhance the platform. GlobalDairyTrade now offers 40 product specifications from seven sellers—Amul (India), Arla Foods (Europe), DairyAmerica (US), Eurosérum (Europe), Land O’Lakes (US), Murray Goulburn (Australia), and Fonterra.
“This latest sales milestone speaks to the effectiveness of GlobalDairyTrade in creating more value for buyers and sellers of globally-traded dairy products,” said Brad Miller, CRA Vice President and head of the Auctions & Competitive Bidding Practice. “GlobalDairyTrade provides valuable, credible market information that enables participants to make better decisions and better manage risk. We develop our trading platforms based on the principles and application of economics and auction theory as tailored to the industry.”
Paul Grave, Director of GlobalDairyTrade, said, “GlobalDairyTrade continues to attract sellers who see it as the way of the future for international trade, and buyers who value the product access it offers, along with the assurance of paying a fair market price. The ease with which sellers and buyers are connected, and the efficiency of the online trading approach, are reflected in the strong volume increases. We are pleased with the expertise that CRA has provided and it has played a key role in the platform’s success.”
GlobalDairyTrade, a wholly-owned subsidiary of Fonterra Cooperative Group Ltd., is open to all qualified buyers and sellers in the market. The auctions—also referred to as trading events—are run neutrally and independently by CRA as the Trading Manager.
About CRA's Auctions & Competitive Bidding Practice
Auctions and other organized market mechanisms increasingly are used to sell or procure assets, resources, property rights, and obligations. These mechanisms have been used in commodities, energy, telecommunications, transportation, oil & gas, natural resources, environmental, metals, health care, and other industries. When properly designed and applied, these mechanisms reduce information and transaction costs, create value, and achieve other important objectives. CRA has the comprehensive expertise necessary to ensure the success of auctions and other transaction mechanisms. We offer businesses, governments, bidders, and other market participants extensive experience in auction and market design, implementation, monitoring, and participation.
About CRA International
CRA is a global consulting firm specializing in litigation, regulatory, and financial consulting, and management consulting. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at http://www.crai.com.