New Zealand commodity prices hit a record high last month, in the 13th consecutive monthly rise for the ANZ Commodity Price Index.The index, which gauges the global prices for a basket of the country's commodity exports, rose 1.8% in March from the month
New Zealand commodity prices hit a record high last month, in the 13th consecutive monthly rise for the ANZ Commodity Price Index.
The index, which gauges the global prices for a basket of the country's commodity exports, rose 1.8% in March from the month before, beating the previous record in July 2008.
Seven commodities rose in price, and four fell. Logs rose 9.2% to an 18-month high, aluminium rebounded 7.7%, beef and lamb were up 6.8% and 4.2% respectively, seafood was up 3.5%, and the prices for sawn timber and wood pulp also rose.
On the other side, the price for wool fell 3%, dairy prices fell 1.2%, venison was down 1.2% and skins fell 0.9%.
A rise in the New Zealand dollar in March eroded local returns from high world prices, limiting the New Zealand dollar commodity price index's gain to 0.4 percent, although it also reached a record high.
