According to the report, New Zealand’s merchandise export price index rose by 4.7% in March this year, hitting a record high, and rose 29.6% from a year ago, of which 17 prices of commodities under investigation all rose and were also benefited from the New Zealand dollar. The easing of exchange rate movements also caused the NZD price index of the commodity to increase by 8.1%, up by 24.2% from a year ago.
In the past year, the price of wool in New Zealand has doubled, including a rise of 12% in March this year, and the meat, leather and wool price index has reached a record high, and is up 46% from a year ago. The March prices of powdered milk and low-fat milk powder rose by 12% and 7%, respectively, and the dairy price index reached the highest point since 2008, even though Fonterra’s milk powder auction price for this month had dropped by 8%.
New Zealand economists at ANZ Bank stated that the income from New Zealand farmers’ income will flow into the economy. Although so far farmers have paid more attention to the reduction of debt, the related benefits have not been extended to the overall economic sector. A situation will not last forever. At present, it is only a matter of time.
New Zealand’s Ministry of Finance stated that it is not yet possible to determine how long the high price of the product can last. The market price of dairy products has already shown signs of high points, and is also affected by the earthquake in Japan. This has caused Fonterra milk powder auction prices to fluctuate significantly and may represent The market is pursuing a balance. In addition, the increase in the supply of food in the United States and Europe has also led to a decline in the prices of dairy products.
In response, economists at BNZ Bank stated that the huge revenue gained from the increase in New Zealand's merchandise exports has not really flowed into the New Zealand economy yet. According to another survey, the current profitability prospects of the New Zealand agricultural sector are from the 1990s. The best case, and during this period, is the period when New Zealand’s economic performance is quite strong.
It is also expected that under the continuous upward trend of international commodity prices, New Zealand's trade conditions will be further improved, even under the circumstances that imported oil prices have soared.
In the past year, the price of wool in New Zealand has doubled, including a rise of 12% in March this year, and the meat, leather and wool price index has reached a record high, and is up 46% from a year ago. The March prices of powdered milk and low-fat milk powder rose by 12% and 7%, respectively, and the dairy price index reached the highest point since 2008, even though Fonterra’s milk powder auction price for this month had dropped by 8%.
New Zealand economists at ANZ Bank stated that the income from New Zealand farmers’ income will flow into the economy. Although so far farmers have paid more attention to the reduction of debt, the related benefits have not been extended to the overall economic sector. A situation will not last forever. At present, it is only a matter of time.
New Zealand’s Ministry of Finance stated that it is not yet possible to determine how long the high price of the product can last. The market price of dairy products has already shown signs of high points, and is also affected by the earthquake in Japan. This has caused Fonterra milk powder auction prices to fluctuate significantly and may represent The market is pursuing a balance. In addition, the increase in the supply of food in the United States and Europe has also led to a decline in the prices of dairy products.
In response, economists at BNZ Bank stated that the huge revenue gained from the increase in New Zealand's merchandise exports has not really flowed into the New Zealand economy yet. According to another survey, the current profitability prospects of the New Zealand agricultural sector are from the 1990s. The best case, and during this period, is the period when New Zealand’s economic performance is quite strong.
It is also expected that under the continuous upward trend of international commodity prices, New Zealand's trade conditions will be further improved, even under the circumstances that imported oil prices have soared.
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