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New Zealand Export Purchasing Power Fell in 3Q

12/01/2020 | 05:21pm EST

WELLINGTON, New Zealand--The international purchasing power of New Zealand's export industries fell the most in a decade in the third quarter as the pandemic lowered prices for dairy, meat and logs.

New Zealand's statistics agency said the terms of trade index--which measures the prices commanded for exports relative to the prices paid for imports--fell 4.7% from the April-June quarter.

The agency said export prices dropped 8.3% in the third quarter from a record high in the second quarter and import prices fell 4.7%.

Recent global dairy auctions have shown improved prices for New Zealand's mainstay export commodity.

Write to djnews.wellington@dowjones.com

(END) Dow Jones Newswires

12-01-20 1720ET

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FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 1.32% 134.35 End-of-day quote.-4.57%
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