The index tracks the prices of 17 of New Zealand's major commodity exports, including dairy products, meat, wool, forestry products, and seafood.
Fell 1.3% m/m in November
- vs. prior +2.9%
- In New Zealand dollar terms, the index fell 2.5% m/m as the NZ dollar trade weighted index lifted 0.2%
As part of this report ANZ look each month at gGlobal shipping prices. For November:
- were mixed
- The Baltic Dry Index, which tends to be the most volatile of the shipping indices, more than doubled during the month of November. The higher costs were driven by improved demand for shipping.
- From January 2024, ships visiting Europe will be subject to emissions costs. These costs will vary depending on emissions prices (in the EU) but changes in fuel costs are expected to vary much more from monthto-month
