Source: MEATINGPLACE, 4/10/18

The FAO Food Price Index rose slightly, up 1.1 percent, from February, marking the second month of consecutive increase, driven primarily by stronger prices for cereals and dairy. Meat prices rose increased slightly too, while prices of sugar and vegetable oils fell further.

The meat price index averaged 169.8 points in March, even with February. At this level, the index is 3 percent above the corresponding month last year but still almost 20 percent below the peak reached in August 2014.

Across the various meat categories that constitute the index, price quotations for ovine meat increased, pork gained slightly, poultry meat remained stable, while those for bovine meat eased. Strong import demand, especially by China, strengthened ovine meat prices. Somewhat tight supplies in Europe underpinned a small increase in pork prices, while subdued demand and expectations for supplies from New Zealand to increase in the coming months weighed on bovine meat values.

The FAO Food Price Index is a measure of the monthly change in international prices of a basket of food commodities. It consists of the average of five commodity group price indices, weighted with the average export shares of each of the groups for 2002-2004.

For more stories, go to www.meatingplace.com.