FAO meat price index down marginally in February

The FAO Meat Price Index averaged 118.0 points in February, down marginally by 0.1 points (0.1%) from January but remaining 5.4 points (4.8%) above its level a year ago.

International poultry meat prices declined, driven by abundant global supplies primarily due to high export availabilities from Brazil, despite continuing avian influenza outbreaks in other major producing countries.

Similarly, pig meat prices softened, pressured by lower quotations in the European Union. While prices showed signs of stabilization, they remained below early January levels (before the outbreak of foot and mouth disease) due to a surplus caused by trade restrictions on German pig meat.

By contrast, ovine meat prices rose, underpinned by strong global demand. New Zealand’s export volumes declined due to lower production, but higher slaughter rates in Australia raised supply, limiting the price increases.

Meanwhile, bovine meat quotations strengthened, driven by rising Australian prices amid robust global demand, particularly from the United States of America. However, the increase was partially offset by lower Brazilian bovine meat prices due to ample cattle supplies.