NZ commodity prices drop 4.7% in May, as dairy prices sink

Wed, 03 Jun 2015

By Jonathan Underhill June 3 (BusinessDesk) - New Zealand commodity prices fell for a second month in May on continued weakness in dairy products and a decline in prices of meat. The ANZ Commodity Price Index for May declined by 4.7 percent, following April's 7.4 percent decline. The index is now about 18 percent lower than in May 2014. The commodity data comes after dairy product prices fell to the lowest level in almost six years in the GlobalDairyTrade auction overnight, amid concern about the end of milk quotas in Europe, Russia's...

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