By Garra - 20/05/2024 in Chicken

FAO meat price index increases for the second consecutive month in March

The FAO meat price index rose 1.7% in March compared to February, the second consecutive increase after seven months of decline. Still, the index was 1.5% below what was recorded in March last year.

“International chicken meat prices increased in March, supported by continued and steady demand from major importing countries, despite the broad supply – mainly sustained by the reduction of avian flu outbreaks in major producers,” said FAO in a statement.

Pork prices also rose, mainly reflecting the increase in domestic demands before Easter, despite the increase in supply, especially in Western Europe.

Global beef prices continued to rise in March, with increased purchases by major importing countries. Meanwhile, sheep meat values fell for the second consecutive month amid an increase in supply, especially in Australia.

The overall indicator, which tracks the monthly international prices of a range of globally traded food commodities, averaged 118.3 points in March, down 7.7% from the previous year.

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