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


Deutsche Bank - ANZ Commodity Price Index: August

Deutsche Bank - ANZ Commodity Price Index: August

Economic Note (New Zealand) NZ
ANZ Commodity Price Index: August

Key Points

The average NZD price of New Zealand's commodity exports fell 0.2% in August 1999, following a 1.5% increase in July. Declines in sawn timber and horticultural prices more than offset further rises in meat and hide prices. The majority of other products were largely static. On an annual basis, NZ commodity prices were 2.3% lower than a year ago.

The corresponding average world price of New Zealand's commodity exports - which excludes the effects of local dollar movements - fell 1.3% in August following a revised increase of 0.6% in July. On an annual basis, world prices fell a provisional 0.7%.

ANZ:::::::::::::::: NZD::::::::::::::::World::::

Commodity::::::::::::Index::::::::::::Price Inde

xPrice:::::::::::: mom.::::ann.::::::::mom. ann.

Index:::::::::::: %::::::::%:::::::: %::::::::%

Mar-99::::::::::::0.7:::: 1.7:::: -0.9::::-5.6

Apr-99:::::::: -0.7:::: -2.9::::::::1.4::::-4.9

May-99::::::::::::0.7:::: -1.9::::::::2.4:::: 0.0

Jun-99::::::::::::2.6:::: -3.5:::: -0.7::::-0.8

Jul-99::::::::::::1.5:::: -0.5::::::::0.6::::-0.2

Aug-99:::::::: -0.2:::: -2.3:::: -1.3::::-0.7


This month's ANZ commodity price release is disappointing following outturns over recent months suggesting that the world price of NZ's main commodity exports were on a tentative recovery path. However, despite the weakness evident in the aggregate index, divergent trends are evident within the index. In particular, over recent months we have seen encouraging increases in meat, aluminium and wood pulp prices, although these have been offset by soft dairy and horticultural prices.

While the prices of commodities exported by New Zealand have tended to lag the upward movement in "hard" commodities, recent pricing developments in the CRB index reinforce our expectation that a turning point has been reached. The marked improvement in the international growth outlook is also likely to translate into firmer commodity prices during the second half of this year.

This, along with an extensive range of other publications, is available on our web site

For answers to your EMU questions, check Deutsche Bank's EMU web site or email our helpline


© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>