FAO Meat Price Index marks third monthly decline
Down 0.7% from its revised value in September, the FAO Meat Price Index recently marks its third monthly decline.
8 November 2021
1 minute read
Down 0.7% (0.8 points) from its revised value in September, the FAO Meat Price Index averaged 112.1 points in October. Though still 22.1% (20.3 points) above its value in the corresponding month last year, this marks the third monthly decline.
In October, international quotations for pig meat fell, primarily due to reduced purchases from China.
Bovine meat prices also fell, reflecting a sharp decline in quotations for supplies from Brazil amid market uncertainty surrounding import suspensions by its leading trading partners over BSE concerns.
Boosted by high global demand, poultry meat quotations rose. However, production expansions remain weak due to high feed costs and avian flu outbreaks, especially in Europe.
World ovine meat prices also increased slightly on continued supply limitations from Oceania due to high demand for flock rebuilding.
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