6 Apr 2010

Primary products index at highest level to date

4:34 pm on 6 April 2010

An index measuring export prices for New Zealand's primary products has reached its highest level to date.

The ANZ index says prices on world markets rose for the 13th consecutive month in March to a fresh high.

Seven out of the 11 commodities tracked by the bank rose.

Log prices jumped 9.2% to reach an 18-month high, while beef, lamb and aluminium prices also rose.

Wool recorded the largest fall in March, down 3%, while dairy prices also eased slightly.

Prices in New Zealand dollars rose for the second month to their highest level since the ANZ began the index in 1986.

The Commodity Price Index rose to 224.3, eclipsing the previous record of 223.5.