FAO meat price index rose in March, driven by higher pig meat prices

The FAO Meat Price Index averaged 118.0 points in March, up 1.0 point (0.9%) from the revised February value and 3.1 points (2.7%) from its year-earlier level.

The increase was primarily driven by higher pig meat prices, mainly due to rising quotations in the European Union after Germany regained foot-and-mouth-disease-free status, prompting key trading partners, such as the United Kingdom of Great Britain and Northern Ireland, to lift import bans. Rising demand contributed to stabilizing the market, while the strengthening of the euro against the United States dollar supported the upward trend.

Ovine meat prices also increased, supported by strong global demand ahead of the Easter holidays.

Similarly, world bovine meat quotations rose, reflecting tight global supplies and robust international demand.

Meanwhile, poultry meat prices remained largely stable, as global supply and demand remained balanced despite the continued challenges posed by widespread avian influenza outbreaks in some major producing countries.