FAO meat price index down in November

The FAO Meat Price Index averaged 118.1 points in November, down 0.9 points (0.8%) from the revised October value but up 6.6 points (5.9%) from a year ago.

The decline was mainly due to lower international pig meat prices, which fell for the fifth consecutive month, principally driven by weaker quotations in the European Union, reflecting abundant supplies and persistently subdued global and domestic demand.

Ovine meat prices declined slightly in November, influenced by currency movements despite strong international demand.

Similarly, world poultry meat prices fell marginally, pressured by ample export supplies from major producing regions.

Meanwhile, international bovine meat quotations remained broadly stable. A sharp rise in Brazilian bovine meat prices, fueled by robust global demand, was offset by lower Australian prices due to reduced purchasing interest from the United States of America.