Record-high FAO meat price index in April

The FAO Meat Price Index averaged 129.4 points in April, up 1.6 points (1.2%) from March and 7.8 points (6.4%) above its level a year earlier, reaching a new record high. The increase reflected higher prices across all meat categories, except ovine meat quotations, which remained broadly stable.

Bovine meat prices rose to a new peak, underpinned by higher export quotations in Brazil amid limited supplies of slaughter-ready cattle, reflecting ongoing herd rebuilding. Additional support was provided by strong international demand, particularly from China, where import quotas under a new three-year safeguard framework are being rapidly filled.

Pig meat prices also rose, driven by firmer quotations in the European Union amid rising seasonal demand, though partly offset by lower prices in Brazil due to ample supplies.

Poultry meat prices increased, supported by higher quotations in Brazil, as strong buying interest from several African markets more than offset softer sales to the Near East, where logistical and transport constraints required shipments to be rerouted through the Red Sea.

Ovine meat prices remained broadly unchanged, as higher quotations in Australia, reflecting tight exportable supplies, were offset by declines in New Zealand due to weaker demand from China, its main export destination.