ROM, Italy The FAO meat price index experienced a price jump in November, as it was last observed ten years ago.
The FAO Food Price Index (FFPI) averaged 177.2 points in November 2019, an increase of 4.7 points (2.7%) over October and 15.4 points (9.5%) over the same period last year. Sugar prices also rose in November, while the milk subindex remained stable and grain prices fell.
The FAO meat price index averaged 190.5 points in November, 8.4 points (4.6%) higher than in October, the largest increase since May 2009. At this level, the index is almost 28 points (17.2%) above its level a year ago, but still 21.5 points (9.4%) below the August 2014 peak. Price quotations for all meat species included in the index were confirmed, with cattle and sheep prices rising the most, due to scarce export opportunities and continued strong import demand, particularly from China. Demand driven by the year-end celebrations exacerbated the tightening of global meat markets, further raised pork prices and led to some increase in poultry meat prices after three months of decline.