The international meat trade ended the month of August with another price increase. Compared to July, the United Nations Food and Agriculture Organization’s (FAO) global meat price index rose by 0.7% and, when compared to August 2020, there was an increase of 22%.
Beef and lamb prices rose 1.6% and 4.1% respectively in August, month-on-month, impacted by larger demand from China and limited animal supply for slaughter in Oceania. Poultry meat also rose (+0.9%) and this increase reflects the larger demand from major importers in Asia and the Middle East and limited production in some exporting countries.
The meat price index is one among many of items considered in the FAO global food price index monthly release. The global food index rose 3.1% in August, compared to July, the very first surge after two consecutive months fall.