ANZ Commodity Price Index

December 2020: Butter me up (PDF 328kB)

The ANZ World Commodity Price Index posted a modest gain of 0.9% in November. Higher prices for aluminium, beef, wool and butter helped push the index higher. In local currency terms the index fell 2.3%, all but wiping out the October gains.

November 2020: Against the odds (PDF 332kB)

The ANZ World Commodity Price Index gained 1.9% in October, reversing the downward trend present in the past couple of months. In local currency terms the index also lifted 2.5% with the NZD broadly stable on a Trade Weighted Index (TWI) basis during October.

October 2020: Drifting back (PDF 332kB)

The ANZ World Commodity Price Index eased just 0.2% in September as lower dairy and meat prices were largely offset by stronger prices for logs and fruit. In local currency terms the index fell 1.3% as the NZD strengthened by 0.6% on a Trade Weighted Index (TWI) basis during September.

September 2020: Global pressures weighing on prices (PDF 344kB)

The ANZ World Commodity Price Index eased 0.9% in August as lower dairy prices were partially offset by stronger prices for meat and aluminium. In local currency terms the index fell just 0.2% as the NZD weakened by 1.3% on a Trade Weighted Index (TWI) basis during August.

August 2020: Defying the odds (PDF 288kB)

The ANZ World Commodity Price Index gained 2.3% in July with strength in the dairy market driving the index back to its pre-COVID-19 levels. In local currency terms the index fell 0.3% as the NZD firmed against the currencies of all our major trading partners.

July 2020: Mixed emotions (PDF 276kB)
The ANZ World Commodity Price Index fell by 0.7% in June as falling prices for logs and lamb more than offset gains in other sectors. In local currency terms the index fell 4.5% as the NZD firmed against the currencies of all our major trading partners.

June 2020: Foot off the gas pedal (PDF 276kB)

The ANZ World Commodity Price Index fell marginally in May, dropping just 0.1%. Commodity prices have held up extremely well so far given the global market volatility, but prices are expected to ease in the months ahead.

May 2020: Slow motion (PDF 276kB)

The ANZ World Commodity Price Index fell a further 1.1% in April. The index has now fallen 9% in the past year. In local currency terms the index fell 0.6% due to the weaker NZD. The NZD eased 0.4% on a Trade Weighted Index (TWI) basis during April.

April 2020: Down but not out (PDF 276kB)

The ANZ World Commodity Price Index fell another 2.1% in March. The index has now fallen 8.3% in the past four months, but relative to other global commodities, that’s not too bad.

March 2020:  More downside to come (PDF 276kB)

The ANZ World Commodity Price Index fell just 2.1% in February but there is more downside to come. The impact on export prices of the recent coronavirus outbreak in China is only partially captured in this month’s data. We expect further downwards pressure on commodity prices in March.

February 2020: Easing into 2020 (PDF 276kB)

The ANZ World Commodity Price Index fell 0.9% in January as weaker meat prices pulled the overall index down. The impact on export prices of the recent coronavirus outbreak in China was not captured in the January pricing. We expect downwards pressure on commodity prices in February.

January 2020: Softer tone (PDF 276kB)

The ANZ World Commodity Price Index fell 2.8% in December due to weaker prices for lamb, beef and kiwifruit. However, the overall index remains 9.4% higher than it was a year ago.

December 2019: Burger fuel (PDF 264kB)

The ANZ World Commodity Price Index lifted 4.3% in November, with beef up an astonishing 19% m/m. The overall index is currently 12.4% higher than it was a year ago.

November 2019: Beefed-up demand (PDF 272kB)

The ANZ World Commodity Price Index lifted 1.2% in October, with gains recorded in the majority of sectors. The index is currently 7.2% higher than it was a year ago, with dairy and meat being the main growth drivers.

October 2019: TWI-light (PDF 272kB)

The ANZ World Commodity Price Index was unchanged in September with gains in meat, forestry and aluminium offsetting weaker prices in the other sectors. The index is now 3.4% higher than year-ago levels.

September 2019: Bouncing along (PDF 272kB)

The ANZ World Commodity Price Index lifted 0.3% m/m in August following two months of weaker prices. Dairy and forestry sectors lifted in August but this was largely offset by weaker prices for meat and aluminium. The index has gained 0.9% in the past year.

August 2019: Under pressure (PDF 268kB)

The ANZ World Commodity Price Index fell 1.4% m/m in July. The recent fall in forestry prices weighed on the index, with dairy price movements also negative. The index has weakened by 0.5% in the past year.

July 2019: What goes up must come down (PDF 248kB)

The ANZ World Commodity Price Index fell 3.9% m/m in June, to record its first decrease this year. The index has fallen 2.4% in the past year.

June 2019: Steady as (PDF 248kB)

The ANZ World Commodity Price Index was stable in May, following a revised 2.6% rise in April. The index is now 0.7% stronger than a year ago.

May 2019: Protein power (PDF 252kB)

The ANZ World Commodity Price Index pushed up 2.5% m/m in April, following a revised 4.1% rise in March.1 This puts the index 2.1% ahead of this time last year.

April 2019: Higher ground (PDF 248kB)

The ANZ World Commodity Price Index pushed up 1.4% m/m in March, continuing the positive trend present since the beginning of the year. Firmer prices were recorded in the agriculture and forestry sectors but dairy once again provided the largest price lift.

March 2019: On the cow’s back (PDF 248kB)

The ANZ World Commodity Price Index pushed up 2.8% m/m in February, continuing the upward shift that commenced in January. Positive price movements were recorded for most sectors but the 6.6% lift in dairy prices was the main driver.

February 2019: Moo-ving up (PDF 248kB)

The ANZ World Commodity Price Index started the year strongly with a 2.1% m/m lift, arresting the downward trend present throughout the second half of 2018. Dairy was the main driver behind the lift in the index, with meat also making a substantive contribution.

January 2019: Year of the log (PDF 248kB)

The ANZ World Commodity Price Index fell marginally in December to finish the year down 3.4% y/y. The 0.2% fall in the index in December was the smallest of seven consecutive monthly decreases recorded since May. A strong year for forestry prices was not sufficient to offset the weaker prices recorded in the dairy, horticulture and aluminium sectors.