Source: MEATINGPLACE, 11/11/16

Global meat prices declined in October due to slackening import demand from China, bucking an upward trend in food prices overall, according to an index compiled by the United Nations’ Food and Agriculture Organization.

The FAO Meat Price Index fell 1 percent in October from September, dragged down by excess domestic supplies in the European Union and a decline in EU export prices for pork as demand from China slowed, the organization said.

The decrease was further linked to declining beef export prices in the Asia Pacific region as higher domestic production in the United States eliminated the need for external supplies.

Overall, global food commodity prices remained on an upward path in October, with the FAO Food Price Index up 0.7 percent for the month and 9.1 percent from a year earlier on sharp gains in sugar and dairy prices.

The FAO Cereal Price Index rose 1 percent, following three months of declines, propelled by tightening supplies of high-quality wheat.

The Food Price Index has climbed continuously since the start of the year except for a dip in July.

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