NZ commodity prices rise for 7th month, led by butter, flat in kiwi dollar terms

Mon, 04 Mar 2013

March 4 (BusinessDesk) - New Zealand commodity prices rose for a seventh month in February, led by gains in the price of butter, though the strength of the local currency meant they were flat in kiwi dollar terms. The ANZ Commodity Price index rose 1 percent to 275.3 last month, with 10 of the basket of 17 raw materials lifting in price. Five were unchanged and two fell. In local currency terms, the index rose 0.2 percent in February to 177.6. The kiwi dollar recently traded at 82.34 US cents, and has been seen as the main cause for lagging...

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