April 18, 2022

FAO price index: Pig meat prices saw biggest monthly increase in March since 1995

The FAO Meat Price Index averaged 120.0 points in March, up 5.5 points (4.8%) from February, reaching an all-time high.

In March, pig meat prices registered the steepest monthly increase on record since 1995, underpinned by supply shortfalls of slaughter pigs in Western Europe and a surge in internal demand in light of the upcoming Easter holidays.

International poultry meat prices firmed, fueled by reduced supplies from leading exporting countries following avian flu outbreaks, further impacted by Ukraine's inability to export poultry meat amid its ongoing war with Russia.

Bovine meat prices also firmed as the tight supply of slaughter-ready cattle persisted in some key producing regions, while global demand remained solid.

- FAO