New Zealand - ANZ Commodity Price index for April -1.7% m/m (prior +1.3%)

ANZ's indicator of price trends for New Zealand's 17 main commodity exports

more to come

As part of this monthly report ANZ look at global shipping prices:

• Global shipping prices generally firmed during April. The Baltic Dry Index lifted 13% during the month, as increased demand for shipping pushed prices a little higher again. For New Zealand exporters freight prices are still generally softening, but the limited number of ships serving Oceania routes does mean shipping costs are still relatively high compared to other major shipping routes.

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The ANZ New Zealand Commodity Price Index is a measure of the overall price movements of New Zealand's key commodity exports. It is published by ANZ Bank on a monthly basis and is based on price data collected from a range of sources, including industry organizations, government agencies, and commodity exchanges.

The index tracks the prices of 17 of New Zealand's major commodity exports, including dairy products, meat, wool, forestry products, and seafood. These commodities Commodities Commodities are assets that are either naturally grown or occurring in the environment. Most commonly this includes precious metals such as gold, silver, and palladium.Beyond metals, commodities can also focus on agricultural or industrial goods that are central to manufacturing or other sectors. This includes crude oil, copper, wheat, and others.Relative to other assets, commodities are an extremely complex form of investment, with many similarities and differences to existing products.Commodit Commodities are assets that are either naturally grown or occurring in the environment. Most commonly this includes precious metals such as gold, silver, and palladium.Beyond metals, commodities can also focus on agricultural or industrial goods that are central to manufacturing or other sectors. This includes crude oil, copper, wheat, and others.Relative to other assets, commodities are an extremely complex form of investment, with many similarities and differences to existing products.Commodit Read this Term make up a significant portion of New Zealand's total exports and are important drivers of the country's economy.

The ANZ New Zealand Commodity Price Index is calculated using a weighted average of the prices of each commodity, with the weightings based on each commodity's share of New Zealand's total commodity exports. The index is expressed in both New Zealand dollars and US dollars, and is seasonally adjusted to account for fluctuations in supply and demand.