NZ commodity prices post record 12.6 percent surge in April, led by dairy products

Thu, 02 May 2013

May 2 (BusinessDesk) - New Zealand commodity prices surged last month by the most since the ANZ Commodity Price Index was created in 1986, driven by skim and whole milk powder, butter and cheese. The index rose 12.6 percent in April to a record high 333.5, as 12 of the 17 commodities rose, three fell and two were unchanged. April’s gains may mark the high point for the time being, with dairy prices dropping 7.3 percent in the latest GlobalDairyTrade auction overnight on signs drought is abating at home and doubts grow about the pace of globa...

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