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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 Zealandâ€™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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