Prices for New Zealand's main commodities fell to their lowest level in 11 months in May, driven by a broad based fall in prices, notably for dairy produce, ANZ Bank's commodity price index showed on Wednesday. The index fell 2.2 percent compared with a 3.7 percent decline in April, and was down at its lowest level since June last year.
The biggest falls were in dairy, which have dropped to a 14-month low, and forestry products, at a five-month low. Among the commodities to gain in price were wool and fruit. The index was down 3.1 percent on the same month a year ago. In New Zealand dollar terms, the index fell 2.1 percent for the month, the lowest since March last year. The local currency level was 6.0 percent lower than a year earlier.
