The FAO Meat Price Index averaged 112.4 points in February, up by 2.0 points (1.8%) from January, reversing the seven months of consecutive drops, and standing 0.9 points (0.8 %) below its corresponding value a year ago.
International price quotations for poultry meat rose the most, followed by bovine meat, underpinned mainly by a rise in demand from leading importing countries. The rise in bovine meat prices was due to lower-than-anticipated supply from Australia, as heavy rains disrupted cattle transportation from major producer regions. Meanwhile, pig meat prices increased slightly due to higher demand from China, together with higher internal demand in Western Europe amidst a lingering tight supply situation. By contrast, international ovine meat prices declined due to a slowdown in the pace of imports by China and a record-breaking production following flock rebuilding in Australia.
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