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ANZ Commodity Price Index: Dairy doldrums drag down index
The ANZ World Commodity Price Index fell for the third consecutive month, dropping 2.9% m/m in August. Dairy and lamb prices fell whilst slightly stronger prices were recorded for other food commodities. In local currency terms, the index fell rose 0.6% m/m as the NZD depreciated 2.2% against the Trade Weighted Index. chart Global shipping prices continue to ease. During August the Baltic Dry Index fell 3.6% and the Harper Peterson Global Index fell 5%. Shipping prices are closely linked to the volume of goods being shipped which is driven by economic activity. If economic activity remains weak then we may see more ... (full story)