Weights for the Index of Commodity Prices
New weights for the RBA Index of Commodity Prices apply with the release of the index for March on 1 April 2025. The index has been reweighted according to an average of export values in 2022/23 and 2023/24 (previously 2021/22 and 2022/23). The index has been rebased so that the 2023/24 average is 100 (previously 2022/23).
The largest changes to weights were a 1.4 percentage point decrease in the weight on metallurgical coal, a 1.1 percentage point increase in the weight on gold and a 0.9 percentage point decrease in the weight on thermal coal.
For further details regarding the methodology used for constructing the index, please refer to Changes to the RBA Index of Commodity Prices: 2013 in the March 2013 issue of the Bulletin.[1] The list of data sources used in constructing the Index of Commodity Prices has been updated. Please refer to Sources of the Price Measures Used in the ICP for further information.
Details are in the attached table and graph.
Weight(a) | ||
---|---|---|
From 1 April 2025 | 2 April 2024 - 31 March 2025 | |
Rural commodities | 10.6 | 10.2 |
Wool | 0.6 | 0.7 |
Beef and veal | 2.5 | 2.3 |
Wheat | 2.9 | 3.1 |
Barley | 0.7 | 0.7 |
Canola | 1.1 | 1.2 |
Sugar | 0.6 | 0.5 |
Cotton | 1.0 | 0.8 |
Lamb and mutton | 1.0 | 1.0 |
Base metals | 3.0 | 2.9 |
Aluminium | 1.2 | 1.2 |
Lead | 0.2 | 0.2 |
Copper | 1.2 | 1.1 |
Zinc | 0.4 | 0.4 |
Bulk commodities | 53.0 | 54.6 |
Iron ore | 28.8 | 28.1 |
Metallurgical coal | 12.8 | 14.2 |
Thermal coal | 11.4 | 12.3 |
Other resources | 33.4 | 32.3 |
LNG | 17.8 | 17.9 |
Crude oil | 2.7 | 2.9 |
Alumina | 1.8 | 1.9 |
Gold | 6.3 | 5.2 |
Copper ore | 1.5 | 1.7 |
Lithium (Spodumene) | 3.3 | 2.7 |
Total | 100.0 | 100.0 |
(a) Commodity weights may not sum to subindex weights due to rounding
Sources: ABARES; ABS; RBA |
Endnotes
Note that Changes to the RBA Index of Commodity Prices: 2013 refers to average export values of 2010/11 and 2011/12 and is based using 2011/12 average is 100. [1]