-
ANZ Commodity Price Index: Dairy drives index up
The ANZ World Commodity Price Index gained 2.4% m/m in December, seeing it end the year down just 1.8% y/y. Dairy prices improved to drive the index higher, more than offsetting weaker aluminium prices. In New Zealand dollar terms, the index lifted 1.9% m/m as the NZ dollar gained 2.4% against the trade weighted index. chart Global shipping prices are once more trending higher, eroding exporters’ margins. The Baltic Dry Index, which tends to be the most volatile of the shipping indices, spiked to an 18-month high in early December, with this index doubling during 2023. Conflict in the Red Sea is adding to the ... (full story)