With a new global price drop in November, beef follows the opposite path to that of pork and chicken, according to the FAO
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Published Dec 6, 2022
Tridge summary
The FAO food price index pointed out that beef, after having reached a historic peak in prices last June, continues in continuous devaluation. Last November, it retreated to the mark of 118.32 points, almost the same value recorded in June 2021. That is, in addition to retreating 3.30% compared to the previous month and 8.28% compared to November of last year, registered the lowest value of the last 18 months. But in the average of the first 11 months of 2022, it accumulates an increase of 11%.
Original content
Pork prices remained stable in relation to the previous month, showing a slight price increase (+0.18%). However, compared to November 2021, it gained a valuation of practically 20%. It currently maintains one of the best quotations of the last three years and, on average for the first 11 months of 2022, reaches a value just over 7% higher than that of the same period last year. Although modest, the best performance of the month was chicken meat, with monthly gain of 0.69% and annual gain of 16.60%. It is, by the way, the one that – in relative values – has been obtaining the best appreciation. Because, compared to the FAO base period (2014/16), it reached 127.39 points in November, against the aforementioned 118.32 points for beef and 106.23 points for pork. Explaining the market movements observed from October to November, FAO points out that an increase in supply from Australia added to the already high supply from Brazil, hence the fall in the price of beef. ...
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