NZ commodity prices rise for second month, led by aluminium
Sept. 3 (BusinessDesk) -
New Zealand commodity prices rose for a second month in
August, led by aluminium, as global prices rose from a
four-year low, and skim milk powder. The ANZ Commodity
Price Index rose 0.7 percent to 320.2 last month, edging
back toward its April record of 333.5, following a 0.6
percent gain in July. In New Zealand dollar terms, the index
rose 0.7 percent to 218.6 and has gained 29 percent from a
year earlier. Of the 17 commodities tracked, 11 increased,
four fell and two were unchanged. Aluminium and skim milk
powder both rose 3 percent, while whole milk powder gained 2
percent. Prices of beef, cheese and casein rose 1 percent,
while apples, sawn timber and kiwifruit all rose about 0.5
percent. Seafood and sheepmeat prices were up 0.25
percent. The price of butter and pelts declined 2 percent
last month, while wool and log prices fell 1 percent. Wood
pulp and venison were unchanged on the month. The report
comes before Wednesday’s GlobalDairyTrade auction.
(BusinessDesk)