NZ commodies record biggest price rise in 22 years

The New Zealand Herald has a story about how the ANZ Commodity Price Index rose 6.8% in September – its largest monthy price gain in 22 years. 

However, most of that gain was wipped out by the rise in the New Zealand dollar.

Dairy prices recorded the biggest gain, up 17%, while sawn timber (7.2%) and wool prices (5.3%) also had siginificant increases.

Smaller increases were noted for wood pulp (3.1%), lamb (2.3 %), beef (2.2%) and kiwifruit (0.4%).

The Story includes comment from ANZ economist Steve Edwards. CLICK HERE to read full story.

Advertisements

NZ dairy futures taking shape

The New Zealand Herald has a story about how the first global dairy futures market being established by the New Zealand Stock Exchange (NZX) will cement the country’s position as a leader in the industry.

However, there is concern that some dairy farmers won’t be financially literate enough to use or understand how the markets work.

There are comment from NZX head of traded products, Fiona Mackenzie, Fonterra’s head of global trade, Kelvin Wickham, and Fonterra Shareholder Council chairman, Blue Read, and veteran farming leader Charlie Pedersen:

The development of the world’s first global dairy futures market could cement New Zealand’s position as an industry leader, NZX says, but there are doubts that farmers will have the financial sophistication to use it.

Sharemarket operator NZX is designing the futures platform to help world dairying players manage their risk in increasingly volatile markets. READ MORE.

Aluminium leads gain on NZ commodity prices

There’s a story on Scoop about how aluminium, wood pulp, lumber and logs posted the biggest price gains amonst New Zealand commodities in July, according to the  ANZ Commodity Price Index.

Seafood  on the other hand, posted the biggest price decline for the same month. Kiwifruit, apples, lambs and lamb skins also declined. READ MORE.