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

 


NZ commodity prices fall 0.9% in June

NZ commodity prices fall 0.9% in June, fourth straight drop, led by apples

By Jonathan Underhill

July 2 (BusinessDesk) - New Zealand commodity prices fell for a fourth straight month in June, led by apples, logs, whole and skim milk powder.

The ANZ Commodity Price Index declined 0.9 percent last month and is now 6.7 percent below its February peak. Prices of apples declined 6 percent, reflecting the impact of the Northern Hemisphere export season, log prices fell 5 percent and whole and skim milk powder declined 3 percent.

Prices of pelts and butter dropped 2 percent while sawn timber and casein both fell about 0.25 percent.

The release of the monthly index comes after the latest GlobalDairyTrade auction overnight, which saw dairy product prices fall to the lowest level since January 2013, paced by a drop in butter and anhydrous milk fat. The GDT price index fell 4.9 percent in the ninth slide in 10 auctions. Volume of product sold rose to 41,513 tonnes from 31,984 tonnes two weeks ago.

On the ANZ index, aluminium prices climbed 5 percent in June from May, while prices of kiwifruit and wool gained 3 percent, beef gained 2 percent and cheese and lamb both rose 0.5 percent. Seafood, wood pulp and venison were unchanged in the month.

The ANZ NZD Commodity Price Index, which shows the price movements in New Zealand dollars, fell 1.1 percent, as the kiwi strengthened over the month. The NZ dollar index is now 13.6 percent below its March 2011 peak.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

ICT Innovation: Six NZ Finalists In World Summit Awards

The awards are a global showcase of 40 projects, across eight categories, with a special emphasis on those which show the benefits of information and communication technology for the development of communities. New Zealand has finalists in six of the eight categories. More>>

ALSO:

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news