EU market spotlight

What are Nui's credentials for operating in the European dairy market?

Starting with our first trades in 2017, Nui has built a strong reputation and forged deep relationships with the European dairy industry. Europe was the home of our first physical dairy marketplace, allowing buyers, sellers, and traders to trade physical dairy and access increased market information. We have worked with the industry through a turbulent six years for the European dairy markets, and we understand the trading needs and desired results for dairy ingredient companies operating across the EU.

Europe faces specific market challenges; how can Nui help improve trade outcomes?

The European dairy industry has been dealing with fluctuating milk prices and market volatility due to changes in consumer demand, global trade dynamics, and geopolitical uncertainties. This volatility can challenge dairy farmers and processors regarding planning, profitability, and sustainability. Participating in trade on a Nui platform allows access to more information based on actual trades around the globe. It offers the industry increased insights to enable more informed decision-making.

The European dairy industry heavily relies on the export market, with trade agreements and market access conditions playing a significant role in its success. Negotiations related to trade deals, tariffs, and non-tariff barriers can impact the industry's competitiveness and market opportunities. Extending reach to new markets and increasing the number of buyers is crucial to the continued success of European dairy. With Nui running dairy marketplaces in Europe, North America and a buy-side International Marketplace in the pipeline, we can play an essential role in further increasing the reach of European dairy producers.

How can Nui support European export strategies?

Nui has recently called for buyer and seller registrations to join Nui Marketplace International. Nui partners with many dairy producers from North America, Europe and Asia Pacific that use our technology to enhance their sales process. It became apparent that a consistent requirement from our customers was access to more quality buyers. With this in mind, Nui set about getting some boots on the ground in Asia and the Middle East to understand and access buyer interest. Nui Marketplace International will focus on bringing a wider group of buyers to all our customers around the globe.

What is the biggest misconception or barrier to embracing digital trade?

"I don't have the resources, time, money, and people".

Many companies fear the resources required to digitise part or all of their sales or purchasing. Most are time-challenged, and the worldwide disruption has added to demands on everyone's time. Right now, most companies need to do "more with less". Find more customers and sell more products with less staff.

The reality with Nui is that the infrastructure is already established and proven around the globe; we pride ourselves on the speed at which we can implement the technology for new customers with minimal resources needed from them. The cost to implement a Nui platform is the equivalent of one employee, but the technology works 24 hours a day, 365 days a year.

"Our customers won't like it".

Some fear that they will lose the personal touch with customers, but we have seen first-hand that the opposite occurs. Our current customers' experience is that using a platform brings them closer to their customers. They talk more regularly, have a more straightforward sales process, and have a more engaged relationship. This is partly because, with a platform, many customers feel they have increased access to products and information.

"But I need help with strategy".

Companies are concerned that although the platform is proven to work technically, it can't implement its strategic goals. We believe this is where Nui adds more value than just functional technology. Without a clear strategy and desired business outcome, a platform will not be successful, regardless of how good the technology is. At Nui, we start all implementations by defining the business outcomes required and how we can measure these. Whilst some outcomes are more common across companies, many others are specific to each company, and we bring all our experience to co-develop the strategy.

How can Nui support the future of the European dairy trade?

We can further support the European dairy industry by learning from Nui's marketplaces worldwide. We have seen a significant increase in the North American Marketplace of procurement tenders from buyers outside of the U.S. I firmly believe we can also bring more qualified buyers directly to our European customers.

As the trading market evolves, Nui is flexible to keep pace with innovations and new ways to trade; for example, we recently launched the ability for all our customers to trade based on several different indexes, and we will continue to provide options to improve trading outcomes for both buyers and sellers via our transparent