New Zealand January ANZ Commodity Price Index comes in at -1.0% m/m (prior -0.1%)

The ANZ World Commodity Price Index is a summary of the price trends for New Zealand’s 17 main commodity exports.

• -1.0% m/m in January vs. -0.1% prior
• -13.1% y/y
• in NZD terms -1.2% m/m and -9.9% y/y

As part of this report ANZ look at Global shipping prices:

• Global shipping prices continued to retreat during January.
• The Baltic Dry Index is now at its lowest level since June 2020.
• Demand for shipping has eased, while the supply of ships has increased.
• While this is encouraging, shipping costs may lift again if manufacturing activity in China picks up after the Chinese New Year holiday break.