New Zealand-Farm exports down.

NEW ZEALAND-WOOL,BEEF, DAIRY AND LAMB EXPORTS DOWN.

World prices for New Zealand’s main commodity exports rose for the first time in eight months in March, but were still sharply lower than a year ago.

The ANZ Bank’s commodity price index rose 1 percent on the month before but was down 31.4 percent on the same month a year earlier.

The monthly rise was driven by higher prices for wool, beef, dairy and lamb, with gains limited by a higher New Zealand dollar .

When translated into New Zealand dollar earnings the index was down 3.4 percent on the month, to be 4 percent lower than a year ago.

On a trade-weighted basis, the NZ dollar gained 9.3 percent in March, to be 0.6 percent higher so far in 2009.

The index covers price movements in 13 mainly agricultural commodities including dairy, meat, timber and aluminium, which account for around 60 percent of New Zealand’s NZ$43 billion export earnings in 2008.

Earlier, NZ based dairy giant Fonterra reported a rise in dairy prices for the second month in a row at its regular monthly internet auction. See

Data last month showed the country posted a trade surplus of NZ$489 million ($275 million) in February, the first in a year.