FAO: Increase in Pork Meat Prices in May

The FAO meat price index reached an average of 124.6 points in May, 1.6 points (1.3%) higher than the revised April value and 7.9 points (6.8%) above its level from the previous year. The increase was due to rising international prices for beef, sheep, and pork meat, which largely offset the decline in poultry prices. Sheep meat prices rose, resulting from higher prices in Oceania, supported by strong global import demand, especially from China, Europe, and the Middle East. Pork prices also increased, driven by strengthened global demand and a sharp rise in export prices in Germany, following the restoration of its foot-and-mouth disease-free status. Global beef prices reached a new historic high due to strong global demand and scarce export supply in major producing countries. In contrast, poultry prices fell, due ...