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ANZ Commodity Price Index: Softer dairy prices drag down index
The ANZ World Commodity Price Index fell 1.3% m/m in March as dairy and forestry prices fell. In New Zealand dollar terms, the index fell 0.4% m/m as the NZD lost 0.8% against the Trade Weighted Index. chart Global shipping prices have eased slightly but still remain relatively high due to ongoing congestion in global shipping channels. The Baltic Dry Index, which tends to be particularly volatile, eased 10% in March, but is still up 30% y/y. More ships are now sailing through the Panama Canal, but the Suez Canal is still a ‘no go’ zone for most freighters and this is expected to continue into the second half ... (full story)