The index offers a summary of the price trends for New Zealand’s 17 main commodity exports.
+1.1% m/m
- prior +0.5%
In New Zealand dollar terms, the index fell 0.7% m/m as the NZD Trade Weighted Index lifted 1.3%
ANZ on Global shipping prices:
- firmed during May
- The volatile Baltic Dry Index did ease slightly during the month, but both the China Containerised Freight Index and the Harper Peterson Index increased.
- Global shipping routes remain subject to disruptions, and this has prompted unprecedented demand for charter ships. Charter ships give exporters more control of the route taken and departure dates, which helps ensure product is delivered to markets on time. This is particularly important for fresh produce, which has a limited shelf life.
- The longer shipping routes being taken to avoid high-risk areas has resulted in congestion at some international ports, and a shortage of containers.
