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

 


NZ producers’ prices fall in 4Q on lower electrity demand

NZ producers’ prices fall in fourth quarter on lower electricity demand

Feb. 20 (BusinessDesk) – New Zealand producers’ input and output prices fell in the fourth quarter, driven by lower electricity prices as demand softened during warmer summer weather and lake levels remained high.

Producer output prices, which measures the prices received by New Zealand producers, fell 0.4 percent in the final three months of 2013, according to Statistics New Zealand. Input prices, representing the prices of goods and services used by New Zealand producers, fell 0.7 percent in the quarter.

The output price index for electricity and gas supply fell 8.7 percent in the quarter, as prices for generated electricity fell with lower summer demand and high lake levels, consistent with a decline in the electricity and gas supply output price index for December quarters since 2006. The input price fell 9.8 percent, the fastest pace of decline since the September 2012 quarter, due to lower electricity generation prices and electricity spot-market conditions, the government statistician said.

“Lower electricity prices, influenced by lower demand in summer months and higher lake levels, contributed to both the lower input and output PPIs in the latest quarter,” prices manager Chris Pike said.

The output prices for dairy product manufacturing fell 0.2 percent following gains of 14 percent in each of the two previous quarters, as manufacturers received lower export prices for butter and cheese.

The dairy cattle farming output price index was unchanged in the December quarter after reaching a record in the September quarter, as the forecast farm-gate milk price for the 2013/14 season was unchanged from the previous quarter.

Meat and meat product manufacturing input prices rose 1.9 percent due to higher prices for prime sheep and lamb.

The price index for export logs rose 4.3 percent in the quarter due to higher overseas demand, up 23 percent for the year, the highest annual increase in three years. The price index for domestic logs rose 2.2 percent in the quarter, reflecting higher demand associated with more new house consents.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news