Global meat prices show mixed picture

Increased demand for beef has boosted the FAO MEAT Price Index, but prices for poultry and lamb are declining.

According to the Food and Agriculture Organization of the United Nations (FAO), global food prices rose in January, mainly due to restrictions on the supply of vegetable oils. The FAO Food Price Index averaged 135.7 in January, up 1.1% from December.

The FAO Meat Price Index edged up slightly in January, with global beef prices hitting a new high as global import demand outstripped exports, while lamb and poultry prices declined as exports outpaced import demand. Pork quotations rose slightly, partly due to rising production costs, which led to a reduction in global supply.