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 - August 2016
The FAO Meat Price Index* averaged 162.2 points in August, 0.5 points (0.3 percent) higher than its revised July value but down 5 percent from August 2015. International prices for ovine meat, pigmeat and poultry meat strengthened somewhat, while quotations for bovine meat declined. Limited supplies of pigmeat in the EU and sheep meat from Oceania lent some support to prices for these products, while firm international demand, in particular from Asia, underpinned poultry meat prices. Meanwhile, recovery in bovine meat production in the United States reduced the need for external supplies and contributed to international prices falling back somewhat.
* 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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