NZ commodity prices fall for 6th month in August, as dairy prices slide

Tue, 02 Sep 2014

By Suze Metherell Sept. 2 (BusinessDesk) - New Zealand commodity prices fell for a sixth straight month in August, taking the index to a 17-month low, led by declining dairy prices, in part due to an oversupply in China. The ANZ Commodity Price Index slid 3.3 percent last month, and is now 12 percent below February's record high. Whole milk powder dropped 15 percent in the month, paced by a 13 percent decline in skim milk powder and a 10 percent drop in butter prices. The survey comes ahead of the Reserve Bank's quarterly Monteray Poli...

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