Global meat prices index fell 4.5% in 2020

However, at the end of last year, the Meat Price Index increased by 1.7%, according to FAO.

World food prices rose for the seventh consecutive month in December, led by dairy products and vegetable oils, the Food and Agriculture Organization of the United Nations reported this month. The FAO Meat Price Index increased 1.7% in the month of December, while its full-year average was 4.5% below that of 2019. Poultry meat quotations rebounded in the final month of the year, buoyed by increased import demand, especially from the Middle East, high internal sales in key producing countries and the adverse impact of avian influenza outbreaks in Europe. Pig meat prices fell slightly, influenced by the suspension of German exports to Asian markets as a result of African Swine Fever outbreaks.

Global meat prices as measured by the United Nations Food and Agriculture Organization (FAO) index fell 4.5% in 2020, compared to 2019, to 95.5 points. "Among the different categories of meat, poultry prices recorded the biggest drop, followed by sheep, pork and beef," FAO said on Thursday.

The FAO Food Price Index averaged 107.5 points in December, 2.2% higher than in November. Over the whole of 2020, the benchmark index, which tracks monthly changes in the international prices of commonly-traded food commodities, averaged 97.9 points, a three-year high and a 3.1% increase from 2019 although still more than 25% below its historical 2011 peak.

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