The United Nations Food and Agriculture Organization (FAO) meat price index averaged 127.7 points in March, up 1.2 points (1%) from February and 9.4 points (8%) above the level reached a year ago.
The increase was mainly due to the rise in pork prices, along with a modest rise in beef prices, while prices for lamb and poultry fell.
Pork prices experienced a sudden rise, driven by higher quotations in the European Union due to strengthening seasonal demand.
Global beef prices also rose, led by Brazil, where reduced cattle availability limited exportable supplies against a backdrop of strong global demand; this was partly offset by price stability in Australia, supported by abundant availability.
In contrast, sheep meat prices declined due to increased export supplies in New Zealand, although higher prices in Australia—supported by sustained demand in major markets—partially offset the decline, despite higher tariffs imposed by the United States and logistical constraints affecting access to Near Eastern markets.
Meanwhile, global poultry meat prices fell slightly, as a result of weaker prices in Brazil amid abundant supply and stable import demand, and shipments to major Middle East destinations were redirected via the Red Sea.
