| New Zealand commodity prices dropped for the first time in four months in March as cheese and milk powder declined. The ANZ Commodity Price Index fell 0.1 per cent to 337 from February. The index is 14 per cent above its level of March 2013. International prices for 10 of New Zealand's main commodities increased in the month and three fell.
The price of whole milk powder led the decline, down 6 per cent, while prices for skim milk powder and cheese dropped 2 per cent. Dairy product prices fell 8.9 per cent in Fonterra Cooperative Group's latest GlobalDairyTrade auction, the biggest drop in 20 months, as volumes increased.......................................Full Article: Source
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