FAO: Global price of meat up

By Oscar Rousseau contact

- Last updated on GMT

Meat prices have increased but global production is expected to stagnate this year
Meat prices have increased but global production is expected to stagnate this year

Related tags: Meat price index, Meat, Fao

The price of a shopping basket of meat products increased for the third month in a row, according to the Food and Agricultural Organisation’s (FAO) Meat Price Index.

Average prices for meat have continued an upward surge that began rising in April with the FAO’s Meat Price Index averaging 158.3 points in June. Brazil, in particular, recorded a strong surge in sales of poultry meat to places like Japan and Saudi Arabia. Chicken prices overall have steadily increased by 10% since January 2016.

In the EU, a lack of pigs for slaughter, alongside lighter slaughter weights, kept supply tight and caused export quotas to move up strongly.

The FAO reported that global meat production increased modestly during 2014-2015, rising by slightly more than 1%.

Limited growth

For 2016, meat output is projected to stagnate, rising by only 0.3% to reach 320.7 million tonnes,​” said Michael Griffin, a meat and livestock adviser at the FAO.

Limited expansion is forecast for poultry, bovine and ovine meat, while pigmeat production could decline. Despite augmented production of meat being foreseen in a number of areas, including North and South America and the European Union, reduced output in China, in particular, and also Australia is anticipated to dampen overall growth.

Generally lower feed prices over the period bolstered meat production in many countries, although in some regions, climatic setbacks – in particular drought – affected beef and sheep meat production, while, in others, animal diseases depressed pigmeat and poultry output,​” he said.

The FAO is a United Nations agency that spearheads international efforts to end world hunger and improve international food security.

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