ANZ’s indicator of price trends for New Zealand’s 17 main commodity exports.
-3.4% m/m in October. ANZ say “as dairy and
meat prices eased“.
In local currency terms +0.3% due to the falling NZD (down 2% in TWI terms).
ANZ include remarks on shipping de velopments:
- Global shipping prices dropped sharply, particularly for bulk freight, as
manufacturing in China slowed and smaller volumes of goods were shipped.
Prices for moving containers are also falling on the main global routes, but
the cost of moving freight to, and from, New Zealand has not fallen as much
due to a reduction in the quantity of ships servicing our ports.
NZD/USD little changed circa 0.5809
