5 Mar 2013

Commodity prices up again

6:55 am on 5 March 2013

Commodity prices have risen for the seventh consecutive month, led by gains in butter and wood pulp.

The ANZ Bank's commodity price index gained 1% in February, compared with the previous month.

The series has gained 9% since its low point last July, though it's still 13% below a record high in April 2011.

When converted back into New Zealand dollars, returns at the farmgate edged up 0.2% despite the kiwi rising against all major trading partners.