The ANZ World Commodity Price Index gained 2.2% m/m in January. Higher returns for dairy products were again the major driver. In New Zealand dollar terms, the index lifted 2.9% m/m as the NZD fell 0.2% against the trade weighted index. {chart} Global shipping prices are trending higher as problems traversing the Suez and Panama Canals are making journeys longer and more expensive. This is also indirectly impacting shipping on other routes, such as NZ-Asia, due to the reduced supply of ships and containers. The Baltic Dry Index, which tends to be the most volatile of the shipping indices, has trended down since ... (full story)