Global meat prices have increased

Global meat prices have increased

The meat price index quoted now at 175.2 points, which is a increase of 3.2 points from May when the price quoted at 172 points. Since January the FAO’s meat price index has increased from 158.8 points – a rise of 10% only in 6 month.

Limited red meat export supplies in Australia and New Zealand, coupled with strong buying interest, underpinned beef and lamb prices in June. Continued strong important demand in Asia supported meat prices too, which increased by the highest amount. Beef prices increased by the second-largest amount.

Poultry was the worst-affected protein category in June. Prices were hit by concerns over the spread of avian influenza (AI), which has led to hundreds of thousands of chickens being culled in Africa, Asia and Europe.

Global commodity food prices were pushed up last month by an increase in both wheat and meat prices. The index averaged 175.2 point s in June, up by around 1% from the previous month and 7% year-on-year. Meat prices are based on two poultry products, three beef, three pork, and one lamb meat product.