Wednesday 2nd October 2013 |
Text too small? |
New Zealand commodity prices rose for a third month, edging closer to the record set in April, led by a jump in the price of wool to an 18-month high.
The ANZ Commodity Price Index rose 0.9 percent in September to 323.2 for an annual increase of 23 percent. In April the index reached 333.5.
Nine of the 17 commodities tracked rose last month, five fell and three were unchanged. Wool rose 13 percent, while prices for beef, pelts and whole milk powder gained 2 percent. Prices of apples, sheepmeat, casein and cheese rose 1 percent, and sawn timber edged up 0.3 percent to the highest level since October 2007.
Aluminium fell 3 percent to a four-year low. Butter, logs, skim milk powder and kiwifruit all fell 1 percent. Seafood, wood pulp and venison were unchanged.
Local producers didn't necessarily feel the benefits of price gains because the trade-weighted index climbed 2 percent in the month. That saw the ANZ NZD Commodity Price Index fall 1.1 percent, although the index is still up 24 percent in the year.
BusinessDesk.co.nz
No comments yet
PFI - Q3 Div & Upgraded FY25 Div Guidance, FY26 Div Guidance
AIA - Auckland Airport announces leadership team change
May 9th Morning Report
May 8th Morning Report
NZME Takeovers Panel determination
MNW - Commerce Commission clears the Contact Energy acquisition
May 7th Morning Report
General Capital Appoints New CFO
SUM - Summerset Considers Retail Bond Offer
SKC - Updated FY25 Full Year Earnings Guidance