Sharechat Logo

Wet weather pushes vege prices up 11% in March

Monday 16th April 2018

Text too small?

New Zealand food prices rose 1 percent in March from February as wet weather pushed up vegetable prices 11 percent.

 

Statistics NZ said that after adjusting for typical seasonal changes, vegetable prices increased 9.5 percent in the month due to sharp rises in tomato, lettuce, cauliflower, cabbage and broccoli prices.

 

“Vegetable crops have been affected by a run of storms in recent weeks – lower supply due to bad weather usually means higher prices,” Statistics NZ consumer prices manager Matthew Haigh said. “In February, we saw rising prices for lettuce, broccoli, and cauliflower, due to a combination of humid weather and Cyclone Gita. As expected, that wet weather has affected vegetable prices in March too.”

 

Tomatoes rose more than 60 percent in March to $4.65 a kilo. In March last year, tomatoes were 83 cents cheaper at $3.82 a kilo.

 

Lettuce prices were up 20 percent in March to $2.94 per 500 gram head, while cauliflower rose 85 percent to $8.35 a kilo.

 

Cabbage prices rose by more than $1 a kilo in March to $3.18 a kilo (up 50 percent). Broccoli also increased more than $1 a kilo to $8.35 a kilo (up 20 percent).

 

However, as usual for the time of year, apple prices fell – down 16 percent to $2.70 a kilo. Fruit prices rose 0.2 percent in March.

 

Overall, food prices were 1.4 percent higher in March this year than March last year, the statistics agency said. Vegetable prices were up 8.8 percent over the year, while mutton, lamb and hogget prices jumped 14.1 percent. Prices for fish and other seafood were up 6.7 percent, while oils and fats increased 12.2 percent. Meanwhile, pork prices dropped 7.7 percent, cakes and biscuits fell 4.5 percent and breakfast cereal prices slid 3.4 percent.

 

The food price index accounts for about 19 percent of the consumers' price index, which is the Reserve Bank's mandated inflation target when setting interest rates.

 

(BusinessDesk)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares gain as Trade Me hits record on takeover
NZ dollar higher against USD as jitters about China-US trade tensions recede
Rakon boosts bank funding to meet increased telco demand
Underfunded Overseer farm management tool needs thorough review: Upton
Motor vehicle lending helps UDC lift annual profit 6%
Orr says RBNZ still under-resourced, funding model part of second phase of review
Leading business brokerage firm LINK raises a further NZ$3.45m in capital
Travel insurance and the AirNZ strike
Industrial heat a challenge for cost-effective emissions reduction
Hallenstein Glasson wary of margin squeeze in second half

IRG See IRG research reports