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New Zealand commodity prices rise, boosted by dairy and beef

Published 03/03/2017, 11:05 am
Updated 03/03/2017, 11:10 am
New Zealand commodity prices rise, boosted by dairy and beef

WELLINGTON, March 3 (Reuters) - Prices for New Zealand's main commodities rebounded sharply in February led by gains for dairy and beef prices, ANZ Bank's commodity price index showed on Friday.

The index rose two percent for the month, compared with a 0.1 percent fall in the previous month.

On an annual basis the index was 20.9 percent higher, compared with a 19.1 percent jump the month before.

Dairy products, the country's biggest export earner, were up 1.3 percent on a monthly basis and have soared 44 percent over 12 months. Beef prices jumped 11.3 percent for the month. Besides bovines, wool prices eased 4.2 percent and aluminium prices lifted.

In New Zealand dollar terms the index was up 0.6 percent on the previous month, to be 9.2 percent higher than a year ago.

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