Markets and trade


The FAO Meat Price Index - December 2020

The FAO Meat Price Index* averaged 94.3 points in December, up 1.6 points (1.7 percent) month-on-month, but still 12.3 points (11.6 percent) below its year-earlier value. December marked the third consecutive monthly increase in the value of the index. Poultry meat quotations rebounded in December buoyed by a combination of increased import demand, especially from the Middle East, high internal sales in key producing countries, and the adverse production impact of avian influenza outbreaks in Europe. Bovine and ovine meat quotations increased too, mostly on tight supplies from Oceania due to high herd-rebuilding demand. By contrast, pig meat prices fell slightly, as exports to main Asian markets from leading European producers, especially Germany, remained suspended over African swine fever outbreaks. For the year as a whole, the FAO Meat Price Index averaged 95.5 points, down 4.5 points (4.5 percent) from 2019. Across different meat categories, poultry meat prices registered the biggest fall, followed by those of ovine, pig and bovine meats.

* 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.

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