FAO Meat Price Index

The FAO Meat Price Index* averaged 113.0 points in March, up 1.9 points (1.7 percent) from February, marking the second consecutive monthly increase. At this level, the index stood only 1.7 points (1.5 percent) below its corresponding value a year ago. International poultry meat prices increased in March, underpinned by continued steady import demand from leading importing countries, despite ample supplies mostly sustained by reduced avian influenza outbreaks in major producing countries. Pig meat prices also increased, mainly reflecting higher internal demand ahead of the Easter holidays, notwithstanding increased supplies especially in Western Europe. World bovine meat prices continued to rise in March, mainly due to increased purchases by leading importing countries. By contrast, International ovine meat prices fell for the second consecutive month, principally driven by a surge in supplies exceeding seasonal levels, especially from 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.