World prices for pork decreased somewhat in July

Published Aug 5, 2024

Tridge summary

The FAO Meat Price Index experienced a 1.2% increase in July, reaching 119.5 points, which is slightly higher than June's figure and 0.8% above the previous year. This rise is primarily attributed to an increase in global prices for lamb, beef, and poultry, largely due to high import demand and production challenges, such as disease outbreaks in poultry farms. However, global pork prices saw a slight decline due to overproduction in Western Europe, which is further exacerbated by an anti-dumping investigation in China and African swine fever restrictions in foreign markets. The FAO emphasizes that many prices used in the index were not known at the time of calculation, and the values for recent months are based on forecasted and actual prices.

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

Original content

In July, the FAO Meat Price Index averaged 119.5 points, which is 1.2% higher than in June and 0.8% higher than the July 2023 level. This was reported to the FAO. Global lamb and beef prices rose in July, driven mainly by persistently high import demand and a seasonal decline in the number of slaughter animals in Oceania. Global poultry prices also rose, driven by strong import demand, primarily from the Middle East and North Africa, amid production disruptions due to disease outbreaks, including avian influenza outbreaks in a number of key production regions. World prices for pork, on the other hand, fell slightly due to overproduction in Western Europe against the background of weakening demand in foreign and domestic markets. The situation is estimated to be exacerbated by an anti-dumping investigation in China and restrictions on access to foreign markets due to outbreaks of African swine fever. FAO emphasizes that most ...

Source: Agrotimes