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New Zealand commodity prices rise 1% in April: ANZ bank

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Prices for New Zealand's main commodities rose for the fourth month in a row in April, driven by an increase in dairy prices, ANZ Bank's commodity price index showed on Thursday.

[WELLINGTON] Prices for New Zealand's main commodities rose for the fourth month in a row in April, driven by an increase in dairy prices, ANZ Bank's commodity price index showed on Thursday.

The index rose 1 per cent for the month, compared with 1.2 per cent growth in the previous month.

On an annual basis, the index was 7.1 per cent higher, compared with a 5.8 per cent rise the month before.

"The main thrust was provided by the dairy complex, while aluminium provided a supporting act as trade tensions and geopolitics boosted prices," said Con Williams, ANZ agri-economist.

Aluminium prices jumped 8 per cent on the geopolitical concerns and dairy products, the country's biggest export earner, were up 2.7 per cent, as global supply waned.

REUTERS

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