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Reuters
Reuters
Business

New Zealand commodity prices ease 0.3 percent in October - ANZ survey

FILE PHOTO: A Fonterra milk tanker drives past dairy cows as it arrives at Fonterra's Te Rapa plant near Hamilton, New Zealand August 6, 2013. REUTERS/Nigel Marple/File Photo

WELLINGTON (Reuters) - Prices for New Zealand's main commodities were dragged down by dairy in October, ANZ Bank's commodity price index showed on Monday.

The index eased 0.3 percent, compared with a 0.8 percent rise in the previous month.

Prices for dairy, the country's largest export earner, slipped 3.1 percent as global milk supply increased thanks to ramped up production in Europe and the United States.

On an annual basis the index was 10.4 percent higher, compared with an 11.5 percent rise the month before.

(Reporting by Charlotte Greenfield; Editing by Shri Navaratnam)

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