Global meat price index falls in December - FAO

FAO Meat Price Index fell 3.5% in 2023
calendar icon 10 January 2024
clock icon 1 minute read

The FAO Meat Price Index averaged 110.4 points in December, down 1.1 points (1%) from November, standing 2.0 points (1.8%) below its corresponding value one year ago, according to a recent market report from the Food and Agriculture Organisation of the United Nations (FAO).

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. 

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.

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