August 3, 2010

Dairy leads the fall in NZ July commodity prices

New Zealand commodity prices fell for the second straight month in July, driven by a fall in dairy prices, fresh data showed on Monday (Aug 2).

Reports said the ANZ commodity price index fell 0.8% on a monthly basis, following a revised 1.6% decline in June. Dairy prices led the fall, with whole milk powder prices down 12.6% and skim milk powder falling 2.7%.

Other decliners were beef, sawn timber, butter and log. On the other hand, the prices of skins, seafood, kiwifruit, wool, casein, aluminium, venison, apples and lamb all increased.

In New Zealand dollar terms, the index fell 2.8%, following a revised 0.4% decline in June.