New Zealand’s commodity price index fell by 3.5% in October from the previous month, the largest monthly decline since February 2009, and was 7.9% lower than the May high this year.
However, under the absorption of the depreciation of the New Zealand dollar exchange rate, the price index in the New Zealand dollar price index fell only 0.6%, but compared with the high point in March this year, the decline rate still reached 11.7%.
New Zealand economist ANZ Bank said that the current New Zealand merchandise export price index has returned to the level of the beginning of this year, but the index is still above the historical average; the future performance of the index will be determined by the global environment , and may continue to decline.
In October of this year, most of New Zealand’s merchandise export prices declined, with cheese falling by 7%, low-fat milk powder and butter falling by 6%, whole milk powder and casein falling by 4% and 1%, respectively; Since the beginning of the month, the New Zealand dairy product price index has fallen by 15.2% from its high point, and if it is priced in New Zealand dollars, it has fallen by 20.4%.
In the same month, kiwifruit, aluminum ingots and beef also declined by 17%, 5% and 4% respectively. Lamb and wood declined by 1% respectively. Only leather and wool prices rose by 3% and 1% respectively.
However, under the absorption of the depreciation of the New Zealand dollar exchange rate, the price index in the New Zealand dollar price index fell only 0.6%, but compared with the high point in March this year, the decline rate still reached 11.7%.
New Zealand economist ANZ Bank said that the current New Zealand merchandise export price index has returned to the level of the beginning of this year, but the index is still above the historical average; the future performance of the index will be determined by the global environment , and may continue to decline.
In October of this year, most of New Zealand’s merchandise export prices declined, with cheese falling by 7%, low-fat milk powder and butter falling by 6%, whole milk powder and casein falling by 4% and 1%, respectively; Since the beginning of the month, the New Zealand dairy product price index has fallen by 15.2% from its high point, and if it is priced in New Zealand dollars, it has fallen by 20.4%.
In the same month, kiwifruit, aluminum ingots and beef also declined by 17%, 5% and 4% respectively. Lamb and wood declined by 1% respectively. Only leather and wool prices rose by 3% and 1% respectively.
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