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Financial News: New Zealand Commodity Prices Rise Further

New Zealand Commodity Prices Rise Further

05/03/2018 - 00:15:00 (RTTNews)

(RTTNews) - New Zealand's commodity prices increased for the fourth straight month in April, mainly driven by higher dairy prices, the results of a survey by ANZ showed Monday.

The ANZ commodity price index climbed 1.0 percent month-over-month in April, following a 1.2 percent increase in March.

The main thrust was provided by the dairy complex, rising 2.7 percent over the month, while aluminum provided a supporting act as trade tensions and geopolitics boosted prices.

At the same time, the prices index for the meat and fibre group showed a decline of 1.9 percent as beef and skin prices fell.

The NZD ANZ commodity price index advanced 1.2 percent from March, when it gained by 2.1 percent.

On an annual basis, the NZD ANZ commodity price index rose 5.8 percent in April following a 5.1 percent increase in the preceding month.

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