New Zealand's export wool prices hit a record high in October

According to the report, in the calculation of the trade-weighted exchange rate unit, the New Zealand commodity price index increased by 3.5% in October from the previous month and increased by 31% from a year ago. However, if calculated in terms of New Zealand dollars, the increase in the month With only 0.8%, the annual growth rate has also dropped to 28%. At the same time, it is 2.7% lower than the record high in May this year.

Of the 13 export commodities in New Zealand, 9 have risen in price. Only beef, sawnwood and apple prices have fallen. The global wool price has risen by 29% and reached a new 21-year high, such as New Zealand dollars. Pricing, wool prices also reached a new high of 7 years.

ANZ Bank economists said that the increase in wool prices in the past two months was driven by rising demand in Mainland China, which currently accounts for 38% of New Zealand wool exports.

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

New Zealand’s Ministry of Finance stated that affected by the weaker US dollar, global commodity prices with US dollar as the main quoting currency will rise, and in the expectation that the United States will further increase the number of easing currencies, it should also increase the prices of some recent commodities. The main reason.

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