Commodity export prices steady

Dairy prices lifted 3.7% month-on-month in May. (Image: Getty)

Tue, 06 Jun 2023

The ANZ World Commodity Price Index gained 0.3% in May. Dairy prices lifted, but prices for meat, export logs and aluminium fell.In local currency terms, the index gained 0.7% month-on-month, supported by a 0.4% easing of the New Zealand dollar against the US dollar.On an annual basis the index – which includes NZ’s major export goods – was down 13.3% (or -9.9% on a currency-adjusted basis).But the result was a solid one against a backdrop of falling global demand for commodities.In April, the index fell 1.7% month-on-month an...

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