By Garra - 10/06/2022 in Brazil and World

FAO Meat Price Index reaches new all-time high in May

The Global Meat Price Index, measured by the UN Food and Agriculture Organization (FAO) set a new all-time high in May, increasing 0.6%, to 122.0 points.

According to FAO’s report, the climb was driven by a steep increase in international poultry meat prices, reflecting continued supply chain disruptions in Ukraine and recent cases of avian influenza during a surge in demand in Europe and the Middle East.

Meanwhile, international bovine meat prices remain stable, as increased supplies from Brazil and Oceania were adequate to meet persistently high global demand.

Meat prices are considered to calculate the FAO Global Food Price Index, which tracks monthly changes in the international prices of a basket of commonly-traded food commodities. In May, the global index fell 0.6% in relation to April, closing at 157.4 points.

The drop in May was led by declines in the vegetable oil and dairy price indices, while the sugar price index also fell to a reduced amount and the cereal price index increased.

When compared to May 2021, the FAO Food Price Index remains 22.8% higher.

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