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Food commodity prices ease
The ANZ World Commodity Price Index fell 1.3% m/m in November, ending the recent run of stronger prices. Food commodity prices generally fell while prices for logs and aluminium improved. In New Zealand dollar terms, the index fell 2.5% m/m as the trade weighted index lifted 0.2%. chart Global shipping prices were mixed. The Baltic Dry Index, which tends to be the most volatile of the shipping indices, more than doubled during the month of November. The higher costs were driven by improved demand for shipping. From January 2024, ships visiting Europe will be subject to emissions costs. These costs will vary ... (full story)