It was the second consecutive fall, following six increases in a row.
Seasonally adjusted export volumes rose 1.5% while the price of exported goods fell 1.8%, both led by dairy. Excluding dairy, export prices rose about 4.9%. Higher meat and forestry prices partly offset the fall in dairy prices.
“Dairy prices fell 15% in the December quarter,” prices manager Chris Pike said.
“They are now 28% below a recent peak in the March 2014 quarter and are at their lowest level since early 2013.”
Seasonally adjusted dairy values fell 9.6% while seasonally-adjusted volumes rose 2.7%.
Meat prices rose 12%, influenced by higher prices for beef. Beef prices rose 23% to reach their highest level since the series began in 1971. Seasonally adjusted meat volumes rose 4.2% and values rose 15%.
Forestry prices rose 8.4%, influenced by higher prices for pine logs. Seasonally-adjusted forestry volumes rose 7.4% and values rose 13%.
Seasonally-adjusted import volumes rose 1.6%, led by intermediate goods. Imported goods prices were up 0.2%. There were several upward contributors, influenced by the lower NZ dollar, particularly against the United States dollar. Offsetting those increases was a 10% fall in the price of petroleum and petroleum products.
The price and volume indexes for exports and imports of goods are compiled mainly from overseas merchandise trade data.
