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Meat

The FAO Meat Price Index - July 2019

The FAO Meat Price Index* averaged 176.2 points in July, up 0.6 percent (one point) from its slightly revised value for June and registering the sixth moderate month-on-month price increase. At this level, the index value stands at nearly 10 percent above that of January 2019, but almost 17 percent below its peak in August 2014. In July, price quotations for ovine meat rose further, boosted by strong import demand from Asia amid supplies from Oceania retreating from their seasonal highs. Asia’s robust import demand for bovine meat also contributed to further gains in bovine prices. However, quotations for pigmeat were down slightly after four months of continued increases, reflecting larger export availabilities from Brazil and the United States. Poultry quotations held firm at June levels, with markets characterized by generally stable but still strong 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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