June 2008 Meat Market Assessment
Global meat output is expected to grow in 2008, despite high feed prices. While meat consumption growth in developed countries is expected to remain modest, at less than 1 percent, stronger economic growth and higher income elasticities in developing countries is likely to lead to a 3 percent increase in utilization in 2008. As an important part of this increased demand will be met by imports, global trade in meat products is also anticipated to go up by 3 percent. An interesting development to note is that, nearly two-thirds of the rise in global meat exports, most of which is destined to go to developing countries, is expected to originate in developing countries themselves, mainly those in South America. The FAO international price index of meat products, which has been increasing on average 1 percent per month since early-2006, reached its highest level in April, currently estimated at 136 (1998-2000=100). The increase in the price index of nearly 3 percent compared with its value in March is mainly due to the increase in the prices of poultry products, which among all the meat products, are the first to reflect the higher prices of feed ingredients. [ more... ] | 
