4 Sep 2009

Commodity index climbs again

5:42 am on 4 September 2009

The ANZ Bank's monthly commodity price index has risen for the sixth consecutive month.

The index climbed 4.3% in August - driven largely by rising prices for aluminum and pelts.

However, when converted back into New Zealand dollars, the index was down 0.7% on July.

ANZ economist Steve Edwards says the gain is yet to translate to farm-gate returns.

The index covers price movements in 13 commodities - mainly agricultural - including dairy, meat, timber and aluminum.