The ANZ bank’s monthly index of world prices for New Zealand’s primary exports reached nine consecutive months of fresh highs, rising 4.5% in November, according to Radio New Zealand.
Pelts and skins prices jumped 32% on demand from Chinese and Italian leather-makers and less supply due to storms in the spring.
Wool, beef, wood pulp, dairy, seafood prices and also rose in November.
But the exchange rate, which threatened to top its post-float high against the US dollar during November, significantly eroded exporters’ returns.
When converted to New Zealand dollars, prices rose only 1.4% to be marginally below May’s all-time peak. – Source Radio NZ
