Trade and markets


The FAO Meat Price Index - July 2020

The FAO Meat Price Index* averaged 93.0 points in July, down 1.7 points (1.8 percent) from June and 9.4 points (9.2 percent) below the corresponding month last year. Price quotations for pig and bovine meats both fell in July, as global import demand volumes remained below export availabilities, notwithstanding the coronavirus-induced disruptions to slaughtering, processing and export activities in key exporting regions. Quotations for poultry meat registered a recovery, following five months of consecutive declines, largely reflecting production cuts in Brazil, triggered by high feed costs and concerns over demand outlook moving forward. Following a sharp increase in June, ovine meat prices increased only slightly in July, reflecting a more subdued demand.

* 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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