Global: Meat price index falls slightly in November, says FAO

Published 2024년 12월 10일

Tridge summary

The FAO Meat Price Index experienced a slight decrease of 0.8 percent in November, totaling 118.1 points, but it shows a significant year-over-year increase of 5.9 percent. This decline is primarily attributed to a drop in international pig meat prices, which have been on a downward trend for five months in a row due to an oversupply and modest global and domestic demand, especially in the European Union. Additionally, lamb and poultry meat prices saw a slight decrease, largely due to currency fluctuations and high supply availability, respectively. Despite these trends, global beef prices remained stable, with varying market dynamics depending on the country, such as increased prices in Brazil due to strong global demand contrasted by lower prices in Australia due to decreased demand from the United States.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The FAO Meat Price Index stood at 118.1 points in November, down 0.9 points, or 0.8 percent, from the revised October figure. However, this level is 5.9 percent higher than a year ago, up 6.6 points from November 2023. The decline in the index is mainly due to the drop in international pig meat prices, which have now fallen for five consecutive months. This behaviour is due to abundant supply and moderate global and domestic demand, especially in the European Union, where quotations have been weaker. Lamb meat prices, on the other hand, fell slightly due to currency fluctuations, despite strong international demand. In a similar vein, poultry meat saw a slight decline in prices, pressured by a high availability of exportable supplies from the main producing ...

Source: Elagro