Markets and Trade

FAO Meat Price Index

The FAO Meat Price Index* averaged 111.8 points in November, down marginally (0.4 percent) from October, reflecting minor drops in the prices of poultry, pig and bovine meats. At this level, the index value stood 2.8 points (2.4 percent) below its corresponding value one year ago. The drop in international poultry meat prices reflected elevated supplies, mainly from Brazil, notwithstanding the challenges to production stemming from avian influenza outbreaks across many countries. Pig meat prices were down due to persistent sluggishness in import demand in Asian markets and ample exportable availabilities in some exporters, despite a surge in internal sales in Europe ahead of the winter holidays. Meanwhile, ample exportable supplies from Brazil and Oceania weighed on world bovine meat prices. By contrast, ovine meat prices rose slightly, mostly reflecting the impact of currency movements.

* 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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