FAO meat price index falls in October

The FAO Meat Price Index averaged 125.0 points in October, a drop of 2.5 points (2.0%) from September, but still 5.8 points (4.8%) above the level recorded a year ago. After eight consecutive months of increases, the reduction was driven by sharp declines in pork and poultry prices, as well as a drop in sheep meat prices, partially offset by higher beef prices. The pork price index fell due to abundant global supply, with export quotations from the European Union additionally pressured by lower import demand from China following the introduction of new import tariffs. The poultry price index also fell significantly, reflecting lower export prices from Brazil, where trade restrictions imposed by China due to highly pathogenic avian influenza (HPAI) led exporters to redirect sales to lower-priced ...