Global meat prices fell by 7% year-on-year in 2016, according to the latest figures from the Food and Agriculture Organization (FAO) of the United Nations.
“After reaching a six-year low during March 2016, however, there was some modest recovery during the middle of the year,” commented AHDB Pork in an analysis of the FAO report.
“Prices then stagnated, dropping back 2% after reaching a peak in August. The largest price falls for the year as a whole were recorded for bovine and poultry meat, due to challenging trade and too much supply in the market. Pigmeat was less affected, due to falling supplies and strong demand from China.
“However, pork prices are likely to experience more pressure looking forward, as Chinese demand slows while abundant US supplies enter the global market.”