FAO Meat Price Index

The FAO Meat Price Index* averaged 119.5 points in August, down 0.9 points (0.7 percent) from July, but still standing 4.3 points (3.7 percent) above its corresponding value last year. International price quotations for poultry meat fell in August, reflecting the lingering effects of the Newcastle disease-related voluntary export suspension on Brazilian price quotations, despite the Government declaring an end to the outbreak one week after its announcement. World pig meat prices decreased for the second consecutive month due to lacklustre import demand amidst ample exportable availabilities in major producing regions. Following three months of steep increases, international ovine meat prices declined marginally in August, owing to a slowdown in import purchases, especially by China. By contrast, world bovine meat prices increased slightly due to the influence of the seasonally falling supplies of animals for slaughter in Oceania.

* Unlike for other commodity groups, most prices utilised in the calculation of the FAO Meat Price Index are not available when the FAO Food Price Index is computed and published; therefore, the value of the Meat Price Index for the most recent months is derived from a mixture of projected and observed prices. This can, at times, require significant revisions in the final value of the FAO Meat Price Index.