NZ news

NZ commodity prices fall to 18-month low in April

New Zealand commodity prices fell to an 18 month low in April, led by a decline in the price of sheep meat.

NZ Herald,

2 May, 2012

The ANZ Commodity Price Index slipped 4.5 per cent to 267.5 in April, to the lowest since December 2009, in what was the biggest monthly drop since February of the same year when the world was in the grips of the global financial crisis. In New Zealand dollar terms, the index fell 4 per cent to 178.3.

Twelve of the commodities fell, two rose and three remained unchanged. The biggest fall across the commodity basket was in the price of sheep meat down 12 per cent to an 18-month low, while wool prices dropped 9 per cent to a 16-month low.

All of the dairy components eased, led by a 7 per cent fall in the price of cheese. Milk powder dropped 6 per cent and butter prices decreased 5 per cent.

"As a consequence of the global financial crisis and some fringe dairy exporting nations gradually increasing production, global dairy prices fell back sharply," ANZ economist Steve Edwards said in his report. "Dairy prices have slipped again following weaker demand from China and increased production internationally."

Fonterra's online dairy auction site, GlobalDairyTrade, attracted its lowest average winning price since August 2009 as international demand for dairy at any price dwindles.

The ANZ series showed the only commodities to record a price increase last month were wood pulp up 4 per cent and pelts up 5 per cent.

The price for apples, venison and sawn timber was unchanged.

When will these idiots recognise reality?

Price of petrol at pump should be falling - AA

A drop in the imported cost of diesel and petrol has made no difference to the price at the pumps, the Automobile Association says.

TVNZ,

2 May, 2012

Consumers should be paying about 4 cents per litre less for petrol than they are currently, the AA said today.

Prices have not dropped during April, despite the imported cost of diesel and petrol falling 3 to 4 cents per litre since the last price rise on 14 March, the AA said.

Diesel is currently on $1.57 a litre and 91 octane petrol at $2.20 a litre in the main centres.

"While oil prices have dropped 8% in the last month or so, the international commodity price for refined petrol or diesel - the stuff we actually put in our tanks - has only fallen about 4%," AA PetrolWatch spokesperson Mark Stockdale said.

"Even so, with a stable exchange rate imported costs are down and motorists should have seen a drop in the pump price by now."

Fuel prices are lower in Australia because of the difference in fuel taxes and exchange rates between the two countries.

New Zealanders pay 59 cents per litre in fuel excise, plus another 1 cent per litre for the Emissions Trading Scheme, with 15% GST on top, Stockdale said.

Australians pay 38 cents per litre in excise and only 10% GST.

"Then there is the difference in the exchange rate, with the NZ dollar currently worth about A$0.79 compared to US$0.82," he said.

Pseudo-democracy in New Zealand

National received $195,000 in anonymous donations

The National Party received more than $195,000 in anonymous donations in the 2011 election campaign, according to official records.

Radio NZ,

2 May, 2012

Details of political parties' expenses and donations in the campaign were released by the Electoral Commission on Wednesday.

National, which went on to win November's election, had the biggest budget, spending $2.321 million on advertising.

The cost included $90,000 for its campaign theme song and $26,000 on an automated phone message from leader John Key to 250,000 households in the last two weeks of the campaign.

The party also received more than $195,000 worth of anonymous donations. Five donors, whose details are known only to the Electoral Commission, gave National $192,415. It also received $3000 in anonymous donations of under $1500.

The ACT Party received $61,730 in disclosed donations that went through the commission, as well as $8042 in anonymous donations of less than $1500.

The fledgling Conservative Party was the second-biggest spender behind National.

The party did not make it into Parliament and spent $1.878 million on advertising - nearly $100,000 more than the main oppposition Labour Party.

Labour spent $1.789 million, including nearly a $100,000 on online advertising, and received $5500 in small anonymous donations.

New Zealand First received $27,000 in small anonymous donations.