The ANZ Commodity Price Index fell -7.2% in November to nearly match the largest decline ever recorded at 7.4% that registered in October. The prices of New Zealand’s commodity exports have fallen now fallen for four consecutive months as spreading economic slowdown trims global demand. The largest drop was seen in the price of dairy products (-12.3%), New Zealand’s top export category. Overall, commodity prices have lost -21.2% since peaking in July. Continued weakness could offset the recent boost to exports from a weaker New Zealand dollar that saw the trade deficit shrink in October. The export sector makes up 30% of the economy and its decline could substantially slow the rebound out of the current recession plaguing the smaller antipodean nation. The Reserve Bank of New Zealand is expected to do its part to help things along later this week, with expectations calling for a massive 1.50% interest rate cut.