FAO Meat Price Index bucks the trend
15 September 2015
The United Nations Food and Agricultural Organisation (FAO) Food Price Index averaged 155.7 points in August – a fall of 8.5 points on July’s levels, which is the greatest monthly decline for the Index since December 2008. This brought the Index 42.6 points lower than where it was in the corresponding month last year.
The decline was attributed to all commodities tracked by the index, with the exception of meat, which remained relatively unchanged month-on-month. FAO attribute the overall fall to a number of contributing factors, including ample supplies, low energy prices and the economic slowdown in China.
Bucking the trend, however, the FAO Meat Price Index was steady on the previous month, averaging 172.9 points in August. During the month, international prices of ovine meat lifted slightly, while all other types of meat were firm. Although, compared to the Index’s peak the same time last year, it was back 39.1 points.
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