Sharechat Logo

NZ commodity prices rise for second month, led by aluminium, skim milk powder

Tuesday 3rd September 2013

Text too small?

New Zealand commodity prices rose for a second month in August, led by aluminium, as global prices rose from a four-year low, and skim milk powder.

The ANZ Commodity Price Index rose 0.7 percent to 320.2 last month, edging back toward its April record of 333.5, following a 0.6 percent gain in July. In New Zealand dollar terms, the index rose 0.7 percent to 218.6 and has gained 29 percent from a year earlier.

Of the 17 commodities tracked, 11 increased, four fell and two were unchanged. Aluminium and skim milk powder both rose 3 percent, while whole milk powder gained 2 percent.

Prices of beef, cheese and casein rose 1 percent, while apples, sawn timber and kiwifruit all rose about 0.5 percent. Seafood and sheepmeat prices were up 0.25 percent.

The price of butter and pelts declined 2 percent last month, while wool and log prices fell 1 percent. Wood pulp and venison were unchanged on the month.

The report comes before Wednesday's GlobalDairyTrade auction. 

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:

Unions gearing up to oppose 'market tests' on Fair Pay Agreements
Mandatory farm plans scorned as 'tick box' exercises
Kiwi dollar firms on weak US retail data, capped by rate-cut expectations
17th October 2019 Morning Report
SkyCity hoses down union claims over potential job losses
OPINION: Fair Payment Agreements and 'swallowing vomit' - the lot of the CTU
MARKET CLOSE: NZ shares gain; Restaurant Brands climbs on upbeat outlook
NZ dollar stalls after Bascand's rate cut comments
Bascand says RBNZ will consider changing bank capital proposals
Affordable electricity key to decarbonisation - Genesis

IRG See IRG research reports