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International meat prices were down in 2023 - FAO meat price index

International pig meat prices fell in December, underpinned by weak import demand from Asia.

8 January 2024
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The FAO Meat Price Index averaged 110.4 points in December, down 1.1 points (1.0%) from November, standing 2.0 points (1.8%) below its corresponding value one year ago.

In December, international pig meat prices fell, underpinned by the persistent weak import demand from Asia, despite an upturn in seasonal internal sales in some exporting countries.

FAO pig meat price index. Source: FAO.
FAO pig meat price index. Source: FAO.

Meanwhile, bovine and poultry meat prices also fell, reflecting less active buying interest in Asia, coupled with ample exportable supplies in large producing regions. By contrast, ovine meat prices rebounded following two months of consecutive drops due to stronger demand ahead of holidays and a decline in slaughter supplies in Oceania as recent rains eased pressure for offloading animals for slaughter.

In 2023 as a whole, the FAO Meat Price Index averaged 114.6 points, down 4.2 points (3.5%) from 2022, due to increased export availabilities from leading exporting regions amid subdued import demand by key meat-importing countries reflecting declines in annual average values for bovine, poultry and ovine meats, partially compensated by an increase in average pig meat prices.

FAO meat price index. Source: FAO.
FAO meat price index. Source: FAO.

January 5, 2024/ FAO.
https://www.fao.org

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