The Country
  • The Country home
  • Latest news
  • Audio & podcasts
  • Opinion
  • Dairy farming
  • Sheep & beef farming
  • Rural business
  • Rural technology
  • Rural life
  • Listen on iHeart radio

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • Coast & Country News
  • Opinion
  • Dairy farming
  • Sheep & beef farming
  • Horticulture
  • Animal health
  • Rural business
  • Rural technology
  • Rural life

Media

  • Podcasts
  • Video

Weather

  • Kaitaia
  • Whāngarei
  • Dargaville
  • Auckland
  • Thames
  • Tauranga
  • Hamilton
  • Whakatāne
  • Rotorua
  • Tokoroa
  • Te Kuiti
  • Taumurunui
  • Taupō
  • Gisborne
  • New Plymouth
  • Napier
  • Hastings
  • Dannevirke
  • Whanganui
  • Palmerston North
  • Levin
  • Paraparaumu
  • Masterton
  • Wellington
  • Motueka
  • Nelson
  • Blenheim
  • Westport
  • Reefton
  • Kaikōura
  • Greymouth
  • Hokitika
  • Christchurch
  • Ashburton
  • Timaru
  • Wānaka
  • Oamaru
  • Queenstown
  • Dunedin
  • Gore
  • Invercargill

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / The Country

Commodities up a notch in August, says ANZ

APNZ
4 Sep, 2012 01:15 AM2 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

NZ's commodity prices were up slightly last month, after seven consecutive months of decline. Photo / File

NZ's commodity prices were up slightly last month, after seven consecutive months of decline. Photo / File

The ANZ's New Zealand commodity price index rose by 0.5 per cent in world price terms in the month of August following seven consecutive months of decline, the bank said.

The rise in New Zealand's commodity prices contrasts with a 3 per cent fall in the Reserve Bank of Australia's index of commodity prices for Australia.

Nevertheless, commodity prices in both countries are roughly 15 per cent weaker than a year ago, ANZ said.

A lift in global dairy prices was the catalyst for the turnaround in the New Zealand index, even though the number of commodities that dropped in price was greater than the number that rose.

Five commodity prices increased in August, five were unchanged and seven prices decreased.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Skim milk powder prices rose 5 per cent in August, followed by beef, butter and whole milk powder prices, all of which rose 3 per cent, and kiwifruit prices which ticked up by 1 per cent.

The price of pelts recorded the largest fall across the commodity basket in August, with an 8 per cent drop.

Wool prices fell 5 per cent, wood pulp prices eased 3 per cent, and logs, casein, apples and aluminium prices all declined 2 per cent. Prices for lamb, venison, seafood, cheese and sawn timber were unchanged.

Advertisement
Advertise with NZME.

Dairy prices have now lifted to a three-month high, but remain 29 per cent below the peak measured in March 2011.

Last week Fonterra announced a reduced dairy payout for the 2012/13 season, but noted improving prices in recent dairy price auctions.

"The recent turnaround in dairy prices may indicate that a floor has been reached in the international marketplace, but this strength is being tempered somewhat by a strong New Zealand dollar," ANZ said.

Discover more

Agribusiness

Fonterra hits record quarterly exports

19 Aug 11:15 PM
Business

Fonterra cuts forecast 2013 payout

28 Aug 01:00 AM
Agribusiness

Dairy boom days coming to an end - bank

30 Aug 11:00 PM
Agribusiness

Lower dairy prices push down terms of trade

02 Sep 11:45 PM
Save

    Share this article

Latest from The Country

The Country

'Huge shock': Community mourns beloved postie killed on final delivery

07 Jul 05:59 AM
The Country

'Amazing achievements': Hawke's Bay Export Awards finalists announced

07 Jul 04:25 AM
The Country

Seabed mining project sparks alarm over impact on South Taranaki fisheries

07 Jul 03:57 AM

From early mornings to easy living

sponsored
Advertisement
Advertise with NZME.

Latest from The Country

'Huge shock': Community mourns beloved postie killed on final delivery

'Huge shock': Community mourns beloved postie killed on final delivery

07 Jul 05:59 AM

David Bullock, 78, was killed on his last delivery before retiring.

'Amazing achievements': Hawke's Bay Export Awards finalists announced

'Amazing achievements': Hawke's Bay Export Awards finalists announced

07 Jul 04:25 AM
Seabed mining project sparks alarm over impact on South Taranaki fisheries

Seabed mining project sparks alarm over impact on South Taranaki fisheries

07 Jul 03:57 AM
'Dearly loved' 21yo killed in Stewart Island hunting incident

'Dearly loved' 21yo killed in Stewart Island hunting incident

07 Jul 01:41 AM
Solar bat monitors uncover secrets of Auckland’s night sky
sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP