December 16, 2024

FAO Meat Price Index in November rose by 5.9% year-on-year

The FAO Meat Price Index averaged 118.1 points in November, down 0.9 points (0.8%) from the revised October value but up 6.6 points (5.9%) from a year ago.

The decline was mainly due to lower international pork prices, which fell for the fifth consecutive month, principally driven by weaker quotations in the European Union, reflecting abundant supplies and persistently subdued global and domestic demand.

Global poultry meat prices fell marginally, pressured by ample export supplies from major producing regions.

Meanwhile, international bovine meat quotations remained broadly stable. A sharp rise in Brazilian bovine meat prices, fueled by robust global demand, was offset by lower Australian prices due to reduced purchasing interest from the United States.

- FAO