ANZ World Commodity Price Index
- +1.3% m/m in March
- -17.4% y/y (prior -15.3%)
- In local currency terms the index gained 2.7% m/m, supported by a 0.4% m/m easing of the NZD against the Trade Weighted Index
As part of this report ANZ remark on global shipping rates:
generally trended higher in March
This was particularly evident in the Baltic Dry Index, which was driven up by stronger trade across the Atlantic as more goods were exported from China
The recent increase in energy prices is likely to stem further falls in shipping costs.
