New Zealand commodity prices improve in May: private survey

[WELLINGTON] Prices for New Zealand's main commodities rose in May, ANZ Bank's commodity price index showed on Friday.

The index increased 1.0 per cent for the month, compared with a 0.8 per cent fall in the previous month.

On an annual basis the index was down 11.7 per cent, compared with a 16.8 per cent loss the month before.

Dairy products, the country's biggest export earner, were mostly unchanged, though skim milk powder prices declined 1.8 per cent.

In New Zealand dollar terms, the index rose 2.5 per cent on the previous month, to be 3.5 per cent lower than a year ago.

REUTERS