Markets and Trade

FAO Meat Price Index

The FAO Meat Price Index* averaged 112.4 points in February, up by 2.0 points (1.8 percent) from January, reversing the seven months of consecutive drops, and standing 0.9 points (0.8 percent) below its corresponding value a year ago. International price quotations for poultry meat rose the most, followed by bovine meat, underpinned mainly by a rise in demand from leading importing countries. The rise in bovine meat prices was due to lower-than-anticipated supply from Australia, as heavy rains disrupted cattle transportation from major producer regions. Meanwhile, pig meat prices increased slightly due to higher demand from China, together with higher internal demand in Western Europe amidst a lingering tight supply situation. By contrast, international ovine meat prices declined due to a slowdown in the pace of imports by China and a record-breaking production following flock rebuilding in Australia.

* 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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