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NZ commodity prices fall 3.7pct in June, led by milk powder

Posted on 03 July 2013

New Zealand commodity prices fell for a second month in June, led by dairy products and beef, though the slide in the kiwi meant prices actually rose in the local currency. The ANZ Commodity Price Index fell 3.7% last month, following a 1.6% decline in May. Whole milk powder declined 9% and skim milk powder fell 8%.
The Thomson Reuters/Jefferies CRB Commodity Index, the world’s leading benchmark of commodity prices, fell 1.5% last month and is now sitting near its lowest levels since June last year. Weaker manufacturing activity in China has weighed on prices of raw materials and prices of dairy products have fallen in three of the past four GlobalDairyTrade auctions……………………………….Full Article: Source


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