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

 

Negotiations Fail: Christchurch Convention Centre Build To Proceed Without PCNZ

After protracted negotiations, the government has ditched the construction consortium it picked to build Christchurch's replacement convention centre, which it now anticipates delivering at least two years behind the original schedule. More>>

ALSO:

Ruataniwha: Greenpeace Launches Legal Challenge Against $1b Dam Plan

Greenpeace NZ is launching a legal challenge against a controversial plan to build a dam that’s set to cost close to $1 billion and will pollute a region’s rivers. More>>

ALSO:

Inequality: Top 10% Of Housholds Have Half Of Total Net Worth

The average New Zealand household was worth $289,000 in the year to June 2015, Statistics New Zealand said today. However wealth was not evenly distributed, with the top 10 percent accounting for around half of total wealth. In contrast, the bottom 40 percent held 3 percent of total wealth. More>>

ALSO:

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news