Prices slipped slightly in December 2017, after remaining unchanged for the previous two months, according to the FAO.
The FAO’s Meat Price Index was marginally below November 2017, after falling due to price pressure on beef, which had been building as the global supply of beef increases.
A greater drop in meat prices was mitigated by the small change in pig, poultry, and lamb prices, reflecting a good supply and demand climate for meat importers and exporters. While there was a drop, prices are still up 9% year-on-year, but still slightly below the average value for the previous five years.
FAO’s Meat Price Index is calculated by analysing price fluctuations of meat from the world’s biggest producers. For pork, prices from Brazil, Germany and the US are used. The international average price of beef is based on data from the first and third countries, plus Australia, Lamb is hinged on the export value of ovine meat from New Zealand. Poultry is based on broiler prices from Brazil and the US.