The ANZ World Commodity Price Index lifted 1.2% in October, with gains recorded in the majority of sectors. The index is currently 7.2% higher than it was a year ago, with dairy and meat being the main growth drivers. In local currency terms the index lifted 1.5% m/m, bolstered by a slightly softer New Zealand dollar. The NZD-TWI eased 0.3% during October. Shipping costs eased in October, with the Baltic Dry Index down 5% on top of a sharp downward shift the previous month. Demand for shipping eased more than supply did, despite ships being temporarily taken out of service to have devices fixed to meet the new air ... (full story)