Sharechat Logo

NZ commodity prices rise to a record in January, led by butter

Tuesday 4th February 2014

Text too small?

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.

 

BusinessDesk.co.nz



  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:

Broad-based manufacturing pick-up offers silver lining
Global economic outlook not as dark as in August: RBNZ
NZ dollar slips on slew of weak global data, lack of US-China progress
MARKET CLOSE: NZ shares recover as investors re-think RBNZ review
NZ dollar falls on weak Aussie jobs numbers, poor China data
Govt media plan won't weaken commercial players - TVNZ
Goodman trust's 1H net profit quadruples on unrealised property gains
Regional house price inflation accelerates in October
Sanford FY earnings flat on reduced volumes
NZ dollar extends gains, aided by US-China trade doubts

IRG See IRG research reports