3 Mar 2012

NZ commodity prices steady

4:58 am on 3 March 2012

New Zealand commodity prices held steady in February, but farmgate returns fell as the New Zealand dollar strengthened.

ANZ's commodity price index was unchanged in February and is 2.5% lower than in February 2011.

Price rises for logs, aluminium, beef and kiwifruit were balanced by falls for eight commodities, including dairy and wool.

ANZ economist Steve Edwards says when converted back into New Zealand dollars returns at the farmgate slipped 4% because of the high New Zealand dollar.