The price of commodities New Zealand exports lifted a little in January, even though dairy prices recorded the first fall in seven months.The ANZ Commodity Price Index, which is weighted based on contributions to merchandise exports, lifted 0.4% in Januar
The price of commodities New Zealand exports lifted a little in January, even though dairy prices recorded the first fall in seven months.
The ANZ Commodity Price Index, which is weighted based on contributions to merchandise exports, lifted 0.4% in January.
The index has risen for 11 consecutive months and is up 36.5% from a year ago.
In world price terms, seven commodities recorded a strengthening in prices, while two recorded price declines.
Of the two commodity prices to record a decrease, dairy prices eased 2% from the preceding month. This is the first price reduction ANZ has measured in dairy prices in seven months.
Wool was the other commodity to record a decline, falling 0.6% in January.
The price of skins lifted 12% in the month, while log prices rose 9.4%. Beef prices firmed 5.8%, aluminium prices rose 1.9% and lamb prices lifted 1.8%. Seafood prices rose 0.9% and sawn timber prices lifted 0.5%.
The value of the New Zealand dollar strengthened in January so the index in NZ dollar terms fell 1.2% in January and is up 5% on an annual basis.
