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NZ commodity prices rise in October

Published 03/11/2015, 11:02 am
Updated 03/11/2015, 11:10 am
© Reuters.  NZ commodity prices rise in October

WELLINGTON, Nov 3 (Reuters) - Prices for New Zealand's main commodities rose in October due to rebounding dairy prices, ANZ Bank's commodity price index showed on Tuesday.

The index rose 6.9 percent for the month, its second monthly increase in a row, compared with a 5.5 percent gain in the previous month.

On an annual basis the index was 11.8 percent lower, compared with a 18.2 percent fall the month before.

Dairy products, the country's biggest export earner, were up 17.9 percent. Non-dairy prices fell 2.2 percent as the strength in the New Zealand dollar caused local prices to fall.

In New Zealand dollar terms the index was up 2.9 percent on the previous month, to be 3.4 percent higher than a year ago.

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