Weaker kiwi softens drop in commodity prices

Mon, 06 Apr 2020

New Zealand commodity prices fell 2.1 percent in March, with weaker dairy and aluminium prices leading the way, according to the ANZ commodity price index.While the index has dropped 8.3 percent over the past four months as the world grapples with the covid-19 pandemic, a weaker kiwi dollar has softened the blow in local currency terms, which rose 3.3 percent in March. On an annual basis, commodity prices have dropped 5.5 percent, but the weak kiwi has meant they’re 6.2 percent higher than a year earlier.Dairy prices led the March decline, down...

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