Commodity exporters made more gains last month, thanks mainly to a further decline in the New Zealand dollar.
The ANZ Bank's Commodity Price Index rose 2 per cent in June and is 21.4 per cent higher than the same period last year.
ANZ economists said recent commodity price movements supported an outlook of further solid growth in export revenues in the months ahead.
Milk powder prices recovered strongly over the past nine months and a further increase last month was the main driver of the New Zealand dollar index.
Other significant increases were seen for butter, casein, aluminium, wood pulp and skins.
However, prices for wool, beef, lamb, sawn timber, kiwifruit and apples all declined.
The world Commodity Price Index rose 1.2 per cent last month and is now 7.9 per cent higher than a year ago.
- NZPA
Export revenue continues gain on back of weak kiwi
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