November 14, 2023

Fourth straight monthly drop in FAO Meat Price Index in October

The FAO Meat Price Index averaged 112.9 points in October, down slightly (0.7 points, or 0.6%) from September, marking the fourth consecutive monthly decline and standing 3.9 points (3.4%) below its value a year ago.

In October, international pork prices fell for the third consecutive month, principally driven by the persistently sluggish import demand, especially from some East Asian countries, with further downward pressure stemming from high exportable availabilities in some leading suppliers.

By contrast, global poultry meat prices rebounded slightly, as avian influenza outbreaks continued to constrain supplies from several world leading suppliers amid robust consumer demand due to the relative affordability of poultry meat.

International bovine and ovine meat prices also increased marginally, reflecting the persistent, robust import demand from some leading importers, notwithstanding ample supplies of bovine meat from Australia and Brazil and ovine meat from Oceania.

- FAO