FAO meat index rises to new record

Global meat prices rose to a new record in September. The FAO Meat Price Index reached 127.8 points, 0.7% higher than in August and 6.6% more than a year earlier. Especially beef prices are on the rise. In the United States, tight domestic availability is driving strong import demand. This increased demand is primarily met with meat from Australia, which is also causing prices to rise there. In Brazil, prices also increased due to strong global demand, despite higher U.S. import tariffs. Pork prices remain stable, with increased exports of Brazilian pork to alternative markets compensating for lower Chinese demand. According to the Food and Agriculture Organization, the impact of new import tariffs that China applies to pork from the European Union remains limited for now. Lamb prices are rising significantly due to a combination of limited supply from Oceania and consistently strong global demand. Poultry prices remain stable, despite import restrictions due to avian influenza outbreaks. The global poultry market is relatively balanced, concludes FAO.