February 7, 2022

January's FAO Meat Price Index increases slightly from December 2021

The FAO Meat Price Index averaged 112.6 points in January this year, up slightly from December 2021, and lifting the index value 16.6 points (17.3%) above its corresponding month a year ago.

Last month, bovine prices reached a new peak, underpinned by strong global import demand exceeding export supplies, mainly from Brazil and Oceania, reflecting lower cattle supplies for processing.

Meanwhile, pig meat quotations rose slightly, as labour shortages and high input costs dampened global supply, countering the downward pressure from China's slowdown in imports.

By contrast, ovine and poultry meat prices softened further, as global exportable supplies outstripped import demand, despite constrained supplies stemming from COVID-19-related production and transportation delays as well as avian flu outbreaks in some large poultry meat producing countries.

- FAO