NZ commodity prices fall for 10th month in December, posting 17% annual decline

Wed, 07 Jan 2015

By Tina Morrison Jan. 7 (BusinessDesk) - New Zealand commodity prices declined for the 10th consecutive month in December, posting their biggest annual drop in 2-1/2 years, as whole milk powder prices fell. The ANZ Commodity Price Index slipped 4.4 percent to 273.5 last month, taking the annual decline to 17 percent. Whole milk powder prices fell 11 percent in the month to be 52 percent lower than the year earlier period. Fonterra Cooperative Group has slashed its forecast payout to dairy farmers for the 2014/15 season to $4.70 per kil...

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