The 1% rise in January takes the index to a new record high.

  • rises for dairy and a strong lift in aluminium prices

ANZ also provide the result in local currency terms. In NZD the index is +1.9% in January

  • extends its record high
  • the local currency gain was assisted by a slip in the NZD, a 0.8% reduction in the trade weighted index (TWI)
nz commodity index

ANZ comments on supply chain congestion:

  • Global shipping costs for container ships have lifted again due to an increase in delays at the ports. Port throughput has slowed as temporary shutdowns at some Chinese ports due to fears of COVID outbreaks, which potentially could disrupt the Beijing Winter Olympics. Activity tends to slow at this time of the year due to Chinese New Year.

Earlier:

NZ PM Ardern says some vaccinated workers can travel into the country from March 13 2022