New Zealand commodity prices rose to a record in January, led by gains in butter.
The ANZ Commodity Price Index advanced 1.2 percent to 334.3 from December. The index is 23 percent above January 2013.
International prices for 10 of New Zealand's main commodities increased in the month, three fell and four were unchanged.
Butter prices led the gains, up 4 percent from December and 33 percent above January last year. Prices of wood pulp and skim milk powder rose 3 percent, while wool, cheese and whole milk powder prices increased 2 percent and casein and logs advanced 1 percent.
ANZ said the forestry sub-group reached a record in January and the dairy sub-group rose to a nine-month high.
Weaker prices were recorded for beef, pelts and aluminium, which were down about 0.5 percent.
Meanwhile prices for venison, seafood, apples and kiwifruit were unchanged.
In New Zealand dollar terms, the index lifted 0.6 percent from December, taking the annual gain to 24 percent.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Listen to the week’s top business news on NBR Radio’s week in review
- Prime Minister John Key would be better off doing the things he tells people he will do, says Matthew Hooton
- Paula Bennett is “thrilled” by the ban on three Wicked Camper vans, says Rodney Hide
- Michael Wigley says Uber may have inadvertently opened itself to action under competition law
- Tim Hunter on the Z Energy-Chevron deal