Bloomberg the Company

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

New Zealand Commodity Export Prices Fall for a Sixth Month

Don't Miss Out —
Follow us on:

Dec. 1 (Bloomberg) -- New Zealand’s commodity export prices fell for a sixth month in November, the longest stretch of declines since the economy contracted in 2008 and early 2009.

Prices fell 1 percent from October, according to an ANZ National Bank Ltd. index released in Wellington today. In New Zealand dollar terms, prices rose 1.2 percent.

New Zealand’s currency has slumped about 8.5 percent against the U.S. dollar in the past three months as Europe’s debt crisis threatens a global slowdown. The slide helps counter lower commodity prices and cushions any decline in export incomes, Finance Minister Bill English said this week.

The commodity-price index in New Zealand dollar terms “remains elevated at 27 percent above the 10-year average recorded from 2000-2009,” ANZ said in the e-mailed report. Prices are 6.2 percent higher than a year earlier in those terms, it said.

Twelve commodities recorded falls in the month, one rose and four were unchanged, ANZ said. The decline was led by butter, cheese, aluminum and wool, it said.

New Zealand’s terms of trade index, which measures the price of exports relative to imports, fell for the first time in two years in the third quarter, according to a government report earlier today. It reached a 37-year high in the second quarter.

To contact the reporter on this story: Tracy Withers in Wellington at

To contact the editor responsible for this story: Stephanie Phang at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.