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, from the report:
+1.4% m/m in October
- stronger prices were recorded for all major sectors excluding meat and fibre
In New Zealand dollar terms
- +3.4% m/m as the NZD Trade Weighted Index fell by 1.3%
As part of this report ANZ remark on Global shipping prices
- volatile Baltic Dry Index fell 32% during the month, to its lowest level in eight months
- China Containerized Index, which measures the cost of shipping into and out of China, fell 16%
- Global demand for ships tends to fall at this time of the year as we have now passed the seasonal peak in demand, and this influences price
- From a New Zealand perspective export volumes are growing again as exports of products such as dairy lift, and demand for imports also increases as retail businesses stock up for Christmas
