March 14, 2022

FAO Meat Price Index shows increase in global pig meat prices

Global pig meat prices edged up, reflecting increased internal demand and scaled-back hog supplies in the European Union and the United States, according to the United Nation's Food and Agriculture Organization (FAO).

The FAO Meat Price Index averaged 112.8 points in February, up 1.2 points (1.1%) month-on-month and 15.0 points (15.3%) from its level a year ago.

In February, international bovine meat quotations reached a new record high, driven by strong global import demand amid tight supplies of slaughter-ready cattle in Brazil and high demand for herd rebuilding in Australia.

Quotations for ovine meat weakened for the fourth consecutive month due to high exportable supplies in Oceania.

Meanwhile, poultry meat prices fell slightly due to lower imports by China following the end of the country's Spring Festival and lower domestic demand in Brazil.

- FAO