New FAO Meat Price Index
The FAO Meat Price Index has been revised to better reflect the structure of world trade in meat products...
The FAO Meat Price Index - October 2016
The FAO Meat Price Index* averaged 163.4 points in October, down 1.7 points (1 percent) from its revised value for September. A decline in EU export prices for pigmeat, stemming from excess domestic supplies and a slackening in import demand from China, was the principal cause of the Index's decline. Additionally, Oceania bovine meat export prices continued to decrease, as increased domestic production in the United States obviated its need for external supplies. Conversely, Oceania ovine meat prices reached their highest level in almost two years, due to reduced output in both Australia and New Zealand.
* 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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