February 13, 2024
FAO Meat Price Index dropped seventh straight month in January
The FAO Meat Price Index averaged 109.8 points in January, down 1.5 points (1.4%) from December, marking the seventh consecutive monthly decline and standing 1.3 points (1.2%) below its corresponding value last year.
International price quotations for poultry meat fell further in January, underpinned by persistent, subdued global demand and ample exportable availabilities in leading exporting countries.
Similarly, pork quotations declined slightly due to a drop in import purchases by China in line with rising national pork production and abundant supplies from some producing countries.
Global bovine meat prices also fell marginally, primarily reflecting high export supplies from Oceania and South America.
By contrast, international ovine meat prices increased on high global import demand and lower supplies of animals for slaughter in Oceania as recent rains have incentivised farmers to retain animals longer.