June 13, 2022

FAO Meat Price Index hits all-time high in May

The FAO Meat Price Index averaged 122.0 points in May, up 0.6 points (0.5%) from April, thus setting a new all-time high that was driven by a steep rise in world poultry meat prices and more than offset declines in pig and ovine meat values.

In May, poultry meat prices rose, reflecting the continued supply chain disruptions in Ukraine and recent cases of avian influenza amid a surge in demand in Europe and the Middle East.

Meanwhile, international bovine meat prices remained stable, as increased supplies from Brazil and Oceania were adequate to meet persistently high global demand.

By contrast, global pig meat prices fell on high export availabilities, especially in Western Europe, amid lacklustre internal demand and expectations for releasing pig meat from the EU Commission's Private Storage Aid scheme.

International prices of ovine meat also dropped, reflecting the impact of currency movements.

- FAO