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ANZ Commodity Price Index
The ANZ World Commodity Price Index fell 0.9% in January as weaker meat prices pulled the overall index down. The impact on export prices of the recent coronavirus outbreak in China was not captured in the January pricing. We expect downwards pressure on commodity prices in February. In local currency terms the index fell 0.4% in January. image Shipping costs have plummeted this year. The Baltic Dry Index, a measure of global demand for shipping, fell 55% in January, accentuating the fall which commenced in late 2019. The fall in shipping costs is associated with a slowing in global trade. This reduction in demand ... (full story)