NZ commodity prices surge 7.4 percent in March, led by jump in whole milk powder

Tue, 02 Apr 2013

April 2 (BusinessDesk) – New Zealand commodity prices surged 7.4 percent in March, the third-biggest gain since at least 1986 as drought drove up the price of whole milk powder by almost a quarter. The kiwi dollar price rose even more as the currency gained. The ANZ Commodity Price index rose 7.4 percent last month to be within 6 percent of the all-time record set in April 2011. Ten of the 17 commodities in the index rose in March, five were unchanged and two fell. Last month Fonterra Cooperative Group lifted its forecast payout to farmers t...

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