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Meat

The FAO Meat Price Index - June 2020

The FAO Meat Price Index* averaged 95.2 points in June, down marginally (0.6 percent) from May and 6.1 points (6.0 percent) below its June 2019 level. International price quotations for poultry and bovine meats fell, largely due to increased export availabilities in major producing regions, despite high import orders from China and the Middle East. By contrast, pig meat prices made a small recovery, mostly driven by a timid recovery in Europe on expectation of the easing of COVID-19 market restrictions. Ovine meat prices made stronger gains as demand for herd building led to a tightening of supplies from Oceania amid consistently high import 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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