Food commodity prices continue to fluctuate

Posted by Isobel Drake on 26th October 2009

The price trend of food commodities has been broadly upwards this year, but prices continue to show significant volatility, according to the Westpac-NFF Commodity Index.

During September 2009, the Westpac-NFF Commodity Index decreased 1.4% and is now 17.2% lower than a year ago.

International commodity prices easing during the month were wheat (-10.8%), barley (-7.6%), canola (-10.5%), cotton (-0.8%), and beef (-2.4%). Commodity prices that lifted during September included sugar (1.5%), wool (4.2%). and dairy (8.4%).

The price falls seen in recent months in Australia have been due to the strength of the Australian dollar, which has countered the impact of rising prices in US Dollar terms.

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