Butter is a hot topic.
Photo: Margaret Jaszowska for Unsplash
Overall commodity prices have been dragged down by a 7.5 percent drop in overall dairy prices with strong global supply keeping the sector under pressure.
The ANZ World Commodity Price Index fell 0.8 percent in April over March, with better prices for most commodities, other than dairy.
“Dairy prices are in a period of high volatility, especially butter,” the report says.
Still, there had been stand-out increases in other sectors with forestry prices up 7.1 percent, partially reflecting higher production and transportation costs.
Aluminium rose 6.3 percent on March, and 51 percent up on the year earlier, after a large aluminium smelter in the United Arab Emirates was damaged in late March, tightening global supplies.
The meat and fibre index rose 0.2 percent over March to another record level, while horticultural was little changed.
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