NZ commodity prices fall to lowest level since March 2010, led by milk powder

Tue, 03 Jul 2012

July 3 (BusinessDesk) - New Zealand commodity prices fell to the lowest level in more than two years in June, led by dairy products such as milk powder, as Europe’s debt crisis weighs on global prices. The ANZ Commodity Price Index fell 2.4 percent last month to its lowest level since March 2010, the fifth straight monthly decline. Whole milk powder fell 7 percent, leading a 4 percent slide in prices of dairy products. Fonterra, the world’s largest exporter of dairy products, cut its forecast 2012 milk price in May and flagged the prospect o...

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