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FAO Meat Price Index down on an annual basis

The FAO Meat Price Index posted an a 0.8 percent increase during the month, led by a recovery in pigmeat prices, which were supported by strong global import demand, especially from Brazil. The index was down 2.2 percent on an annual basis.

The FAO Meat Price Index averaged 163.6 points in December, 1.3 points (0.8 percent) higher than its slightly revised value for November. While poultry and bovine meat prices changed only little in December, international price quotations for ovine meat fell slightly, mostly as a result of increased export supplies from Oceania. By contrast, pigmeat prices partially recovered, supported by strong global import demand, especially from Brazil. In 2018, the Index averaged 166.4 points, down 2.2 percent from 2017. The year-on-year decline reflected drops in the prices of pig and poultry meats, which more than offset higher ovine meat quotations. In bovine meat markets, prices remained close to their 2017 levels.

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