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


Robertson Speech: Budget Sees Wider Debt Target

"New Zealand is well positioned to face this instability and uncertainty, but we are not immune from its impacts. Growth rates are set to be lower than we have seen in recent years..." More>>


Commerce Commission: Spark Warned Of Broadband Price Rise

The warning follows an investigation into representations Spark made on its website and in emails in August and September 2018, notifying in-contract customers receiving its copper-based broadband service of its decision to increase the price by $5 a month. More>>

Law Commission: Resist Rushing To New “Deepfake” Law

Artificial intelligence techniques can create massive volumes of fake audio, images and video that is incredibly convincing and near-impossible to detect... While it is tempting to respond with new law, the study finds that the long list of current legislation covering the issues may be sufficient. More>>


'Contrary To US Interests': US Lockout Sees Android Ditch Huawei

Effective May 16, 2019, the Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) by adding Huawei Technologies Co., Ltd. (Huawei) to the Entity List. More>>