The largest annual increases in the price of dairy, aluminium and sawn timber products led the 30 percent gain in New Zealand commodity prices last year.
The ANZ Commodity Price Index gained 2.6 percent in December from a month earlier, with an annual gain of 30 percent for the calendar year. Dairy, aluminium and sawn timber soared 50 percent, 47 percent and 40 percent respectively as global demand for raw materials returned after the slump caused by the credit crunch.
“As further confirmation that the global economy is on the mend, aluminium and sawn timber prices have both strengthened in nine of the last ten months,” said economist Steve Edwards …
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Tags: aluminium, ANZ Commodity Price Index, dairy, Fonterra Cooperative Group, New Zealand commodity prices, Steve Edwards, timber
