The index tracks the prices of 17 of New Zealand's major commodity exports, including dairy products, meat, wool, forestry products, and seafood.
ANZ World Commodity Price Index fell for the third consecutive month. ANZ citing especially weak dairy prices as one of the causes of the drop.
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As part of the report ANZ discuss shipping prices.
- Global shipping prices continue to ease. During August the Baltic Dry Index fell 3.6% and the Harper Peterson Global Index fell 5%. Shipping prices are closely linked to the volume of goods being shipped which is driven by economic activity. If economic activity remains weak then we may see more older ships scrapped as tightening environmental regulations prohibit their use.
