Global meat prices have been rising for the third month in a row

The FAO Meat Price Index* averaged 116.3 points in April, up 1.9 points (1.6 percent) from March, marking the third consecutive monthly increase and making the index stand only marginally (0.4 percent) below its corresponding value one year ago.

Global meat prices have been rising for the third month in a row

In April, international poultry meat prices rose, underpinned by steady import purchases by Middle East countries amid the continued challenges to production stemming from avian influenza outbreaks. World bovine meat prices also increased, driven by the continued high demand from major importers, notwithstanding increased supplies from domestic sources in leading importing countries.

Ovine meat prices bounced back slightly on market expectations for supplies to seasonally tighten in Oceania. By contrast, world pig meat prices fell marginally, reflecting slack internal demand in Western Europe and persistently lacklustre demand from leading importers, especially China.

* Unlike for other commodity groups, most prices utilised in the calculation of the FAO Meat Price Index are not available when the FAO Food Price Index is computed and published; therefore, the value of the Meat Price Index for the most recent months is derived from a mixture of projected and observed prices. This can, at times, require significant revisions in the final value of the FAO Meat Price Index.

Source: FAO