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

 

Wet weather pushes vege prices up 11% in March

Wet weather pushes vege prices up 11% in March

By Tina Morrison

April 16 (BusinessDesk) - New Zealand food prices rose 1 percent in March from February as wet weather pushed up vegetable prices 11 percent.

Statistics NZ said that after adjusting for typical seasonal changes, vegetable prices increased 9.5 percent in the month due to sharp rises in tomato, lettuce, cauliflower, cabbage and broccoli prices.

“Vegetable crops have been affected by a run of storms in recent weeks – lower supply due to bad weather usually means higher prices,” Statistics NZ consumer prices manager Matthew Haigh said. “In February, we saw rising prices for lettuce, broccoli, and cauliflower, due to a combination of humid weather and Cyclone Gita. As expected, that wet weather has affected vegetable prices in March too.”

Tomatoes rose more than 60 percent in March to $4.65 a kilo. In March last year, tomatoes were 83 cents cheaper at $3.82 a kilo.

Lettuce prices were up 20 percent in March to $2.94 per 500 gram head, while cauliflower rose 85 percent to $8.35 a kilo.

Cabbage prices rose by more than $1 a kilo in March to $3.18 a kilo (up 50 percent). Broccoli also increased more than $1 a kilo to $8.35 a kilo (up 20 percent).

However, as usual for the time of year, apple prices fell – down 16 percent to $2.70 a kilo. Fruit prices rose 0.2 percent in March.

Overall, food prices were 1.4 percent higher in March this year than March last year, the statistics agency said. Vegetable prices were up 8.8 percent over the year, while mutton, lamb and hogget prices jumped 14.1 percent. Prices for fish and other seafood were up 6.7 percent, while oils and fats increased 12.2 percent. Meanwhile, pork prices dropped 7.7 percent, cakes and biscuits fell 4.5 percent and breakfast cereal prices slid 3.4 percent.

The food price index accounts for about 19 percent of the consumers' price index, which is the Reserve Bank's mandated inflation target when setting interest rates.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Land Report: Issues With Soil Degradation

An environmental report released today has found we are damaging and losing our soils and our native plants and animals. More>>

ALSO:

Water Quality Report: Cause For Optimism

National River Water Quality Trends released by Land, Air, Water Aotearoa (LAWA) this week, reveal that for all river water quality parameters monitored over a 10 year period, more sites were improving than deteriorating. More>>

ALSO:

IMF Report On NZ: Positive Economic Outlook

Minister of Finance Grant Robertson has welcomed the IMF’s Concluding Statement, released following its annual visit, which provides an independent assessment of the strength of the New Zealand economy. More>>

ALSO:

Retail Power Price: Review Panel Named

The Energy and Resources Minister Megan Woods has released the details of who will sit on an expert advisory panel which is tasked with leading a review into the price of electricity in New Zealand. More>>

ALSO:


Increasingly Disruptive Threats: Govt Cyber Security Refresh

Broadcasting, Communications and Digital Media Minister Clare Curran today announced a comprehensive refresh of New Zealand’s approach to cyber security. More>>

ALSO:


Regional Growth: Action Plan To Modernise Taranaki’s Economy

The Provincial Growth Fund (PGF) will invest up to $20 million to help future-proof the Taranaki region by diversifying its economy, creating additional jobs and leveraging off the strong base the region has established through its oil, gas and agricultural ... More>>

ALSO:

Winding Down Irrigation: Funding Ends For Crown Irrigation Investment

The Government has begun winding down public funding for large-scale irrigation through Crown Irrigation Investments Limited (CIIL), in line with the Coalition Agreement and the Confidence & Supply Agreement. More>>

ALSO: