December 2021: Dairy drives index higher (PDF 828KB)
The ANZ World Commodity Price Index lifted 2.8% in November, pushing it into new territory. Dairy prices led the charge, supported by strong gains in meat, which offset weaker prices for forestry and aluminium.

November 2021: Above the clouds (PDF 832KB)
The ANZ World Commodity Price Index lifted 2.1% in October, shooting above its previous record high. Dairy and aluminium delivered strong gains, while the meat sub-index broke new ground.

October 2021: Spring bounce (PDF 456KB)
The ANZ World Commodity Price Index lifted 1.5% in September, partially unwinding the previous month’s fall. Dairy and forestry both regained some ground and aluminium and meat prices (particularly lamb) were strong.

September 2021: Losing elevation (PDF 456KB)
The ANZ World Commodity Price Index has continued to ease, falling 1.6% in August following a similar decrease in July. Dairy and forestry led the index down, offsetting stronger prices from other sectors. In local currency terms the index also fell 1.6% as the NZ dollar eased just 0.1% against the US dollar.

August 2021: Peaked (PDF 452KB)
The ANZ World Commodity Price Index has come off its record level, having eased 1.4% in July. Dairy continued to lose ground and we also recorded lower prices for logs this month. In local currency terms the index barely changed, lifting just 0.1% m/m, as lower commodity prices were offset by a softening in the NZD Trade Weighted Index.

July 2021: Freight frustrations (PDF 456KB)
The ANZ World Commodity Price Index continues to gain elevation, lifting 0.8% m/m in June. Dairy was the only major category to lose ground during the month, with very strong gains again recorded in the forestry sector. In local currency terms the index gained 2.3% m/m, as stronger commodity prices were further boosted by the Trade Weighted Index easing by 1.1%.

June 2021: Dizzy heights (PDF 452KB)
The ANZ World Commodity Price Index lifted 1.3% m/m in May, its eighth consecutive lift. Prices for all major categories of commodities lifted, pushing the index to a record level. In local currency terms the index gained 1.0% m/m, as stronger commodity prices were partially offset by the Trade Weighted Index firming 0.6%.

May 2021: Take me higher (PDF 456KB)
The ANZ World Commodity Price Index lifted 2.3% m/m in April to extend its record high. The lift in the index was driven by stronger prices for beef, lamb, logs and aluminium. In local currency terms the index gained 2.2% m/m.

April 2021: Sky high (PDF 452KB)
The ANZ World Commodity Price Index lifted 6.1% m/m in March to reach a record high. The strength in the index was driven primarily by the sharp lift in dairy prices. In local currency terms the index gained 7.4% m/m to also reach a record high.

March 2021: Onward and upward (PDF 364KB)
The ANZ World Commodity Price Index lifted 3.3% m/m in February to reach its highest level since April 2014. The dairy sector provided much of the impetus, supported by strong prices for meat, forestry and aluminium. In local currency terms the index gained 2.7%.

February 2021: Dairy leads the way (PDF 324KB)
The ANZ World Commodity Price Index has started 2021 strongly, gaining 3.6% in the month of January. The dairy sector provided most of the lift, while stronger prices were also recorded in the meat and forestry sectors. In local currency terms the index gained 2.4%.

January 2021: Up, up and away? (PDF 332KB)
The ANZ World Commodity Price Index farewelled 2020 with a 1.8% gain in the month of December, to finish the challenging year down just 0.4% y/y. Dairy, forestry and aluminium were the sectors that pushed the index higher. In local currency terms the index fell 0.9%, as the Trade Weighted Index (TWI) gained 1.8%.

2022 editions

2021 editions

2020 editions