New Zealand Exports Wool Prices High In October

2010/11/3 13:43:00 44

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The report says

Trade

The weighted exchange rate unit was calculated in October of this year.

New Zealand

The commodity price index increased by 3.5% over the previous month, and increased by 31% compared with a year ago. For example, in the calculation of NZD, the increase in the month was only 0.8%, and the annual growth rate was 28%. At the same time, it was 2.7% lower than the historical high in May.

Of the 13 new export commodities in New Zealand, 9 commodity prices rose, and only beef, sawn wood and apple prices slipped. Of them, global wool prices rose 29% and reached a new high of nearly 21 years. For example, the price of wool was also at a 7 year high in New Zealand dollars.

ANZ Bank economist said nearly two months

Wool price

The reason for the rise is driven by demand from the mainland of China. At present, the mainland market accounts for 38% of New Zealand's wool exports.

In addition, the prices of leather, aluminum ingot and seafood rose 10%, 8% and 2% respectively in October, and the price of mutton and raw materials increased by about 3%-4%.

The New Zealand Ministry of Finance said that the impact of the weaker dollar has led to the rise in global commodity prices, which are mainly priced in the US dollar, and that the US will expect a large amount of loose money in the US, which should also be the main reason for the recent sharp rise in some commodity prices.