The ANZ World Commodity Price Index gained 3.5% m/m in February as both dairy and meat prices improved. In New Zealand dollar terms, the index lifted 4.1% m/m as the NZD fell 0.8% against the US dollar. {chart} Global shipping prices are generally trending higher as problems traversing the Suez and Panama Canals are making journeys longer and more expensive. The Baltic Dry Index shot up again in February but still remains well below the level attained during the pandemic when global shipping was severely disrupted. New Zealand’s smaller exporters are more exposed to the recent changes in shipping costs as they rely ... (full story)