FAO meat price index rose 1% in March

The FAO meat price index averaged 118.0 points in March, up 1 point (0.9%) from the revised February value and 3.1 points (2.7%) above the level of a year ago.

The increase was mainly due to higher pork prices, especially driven by rising quotations in the European Union after Germany regained its foot-and-mouth disease-free status, prompting key trade partners like the United Kingdom to lift import bans. Increased demand helped stabilize the market, while the stronger euro against the US dollar supported the upward trend.

Sheep meat prices also rose, supported by strong global demand ahead of the Easter holidays.

Likewise, global beef quotations rose, reflecting tight global supply and strong international demand.

Meanwhile, poultry meat prices remained largely stable as global supply and demand stayed balanced despite ongoing challenges from widespread avian influenza outbreaks in some major producing countries.