Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ commodity prices rise 1% in December

NZ commodity prices rise 1% in December, high kiwi erases benefits

Jan. 10 (BusinessDesk) – New Zealand commodity prices rose for a fifth straight month in December, led by a surge in pelt prices and gains for aluminium and beef, though a strong New Zealand dollar eroded the benefits to local producers.

The ANZ Commodity Price Index rose 1 percent in to be 7 percent up since July last year. The index is still 14 percent below its April 2011 peak. The NZD Commodity Price Index fell 0.1 percent “as the lift in the value of the kiwi dollar was greater than the rise in international commodity prices,” ANZ said.

The New Zealand dollar briefly broke above 84 US cents overnight and has advanced about 12 percent from its lows last May. The trade-weighted index was last at 75.17, up from 70.13 a year ago, and was at a 5 ½-year high in December.

Prices of pelts surged 29 percent to a seven-month high in December. Aluminium gained 7 percent and beef prices rose 3 percent. Wood pulp, cheese, timber, butter, skim milk powder and wool all rose about 1 percent and casein gained about 0.25 percent.

Prices of lamb and whole milk powder fell 1 percent, and logs and kiwifruit fell 0.5 percent. Seafood, apples and venison were unchanged in the month.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news