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NZ commodity export prices rise in June - survey
WELLINGTON, July 2 - World prices for New Zealand's main commodity exports rose for the fourth month in a row in June, but remained sharply lower than a year ago.
The ANZ Bank's commodity price index rose 0.2 percent from the previous month, but was down 27.9 percent on the same month a year ago.
The monthly change was driven by higher prices for sawn timber, aluminium and skins, offsetting a higher New Zealand dollar <NZD=>.
The price of eight categories of commodities rose, while five declined.
However, when translated into New Zealand dollar earnings, the index fell 5 percent on the previous month and dropped 17.3 percent from a year earlier. On a trade-weighted basis, the NZ dollar <=NZD> gained 2.2 percent during June.
The index covers price movements in 13 mainly agricultural commodities including dairy, meat, timber and aluminium, which account for around 60 percent of New Zealand's NZ$43 billion annual export earnings.
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