As reported by the UK levy board AHDB, beef meat prices slightly increased due to reduced supply for Oceania, while pig meat and poultry products fell slightly as export availabilities exceeded import demand.

Strong demand growth, especially from Asia and the Middle East, where middle-class populations are rising, spurred the sheep market to rise.

According to the January FAO food price index - a monthly trade-weighted index tracking international market prices of five major food commodity groups - the cereal (/search/?q=cereal) price was at the highest since July 2017, as concerns over weather for wheat and corn crops drove the price up despite large supplies.

Dairy values were lower than December and fell by 7% on the corresponding month last year.  Rick Alberto