NZ commodity prices fall 0.5 percent in July, in sixth monthly decline

Thu, 02 Aug 2012

Aug. 2 (BusinessDesk) - New Zealand commodity prices fell for the sixth straight month in July, as uncertainty over the global economy and Europe’s worsening debt crisis sapped demand for raw materials. The ANZ Commodity Price Index fell 0.5 percent last month. Wool dropped 7 percent, bringing its decline over the past 12 months to 43 percent, prices for skins dropped 4 percent and beef and lamb fell 2 percent. Dairy products, the nation’s biggest export commodity, mitigated the decline, rising almost 1 percent in July. That was led by a 3 p...

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