Global meat prices down in December
International meat prices fell in December 2017, marginally below November values, according to the United Nation’s Food and Agricultural Organization’s (FAO) Food Price Index.
The FAO Meat Price Index averaged 171.6 points last month, down from 172.6 in November, while for the year the index averaged 170 points, up 9% from 2016, but 4.7% below the average for the preceding five years (2012-2016).
International price quotations for bovine meat fell, pressured by increased offerings in both domestic and international markets.
However, according to the index, pig, poultry and ovine meat quotations changed “only little”, reflecting an overall balanced supply and demand situation.
In addition, ovine meat prices recorded the largest increase in 2017, followed by those of pigmeat and bovine meat.
The FAO Meat Price index is calculated from average prices of four types of meat, weighed by world average export trades for 2002-04. Commodities include two poultry products, three bovine meat products, three pigmeat products and one ovine meat product.
Overall, global food prices declined in December, standing at 169.8 points, down 3.3% from November.