Food prices are rising


FAO Food Price Index for May show increase demand for pig meat in East Asia with effects on Meat Price Index

Posted on Jun 06 ,09:28

Food prices are rising

Strong demand for pig meat in East Asia has influenced Meat Price Index in May, reports UN's FAO. Global food prices rose for the fifth consecutive month in May, pushed up by rising prices of cheese and maize due to adverse weather conditions.

The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, averaged 172.4 points in May, up 1.2 percent from the previous month while still 1.9 percent below its level in May 2018.
The FAO Meat Price Index was up marginally in May as pig meat price quotations continued to rise amid strong import demand from East Asia, where the African Swine Fever has decimated production. Bovine meat prices eased from their April highs, reflecting elevated global export supplies.
According to data released by the Chinese authorities, in April, pork imports were higher by 24% compared to the same month last year. For the first four months of this year, China pork imports are 8.4% higher than the volume reported in the same period of 2018 but April seems to be the start for a period of increased imports.
Analysts are expecting a surge in meat imports in the second half of the year as pork in China's cold storage is depleting constantly. At the same time, Vietnam is also increasing its pork imports as the ASF virus is spreading to the country's pig herd.

 NEWSLETTER - Stay informed with the latest news!


Similar articles


Vietnam switches to cattle breeding, poultry production to compensate pork shortage

Vietnam is ready to switch meat production from pork mainly to other animal protein such as beef ...

Read more Read more

Spain has increased pork exports to Taiwan by 400%

Spain is holding an 18% share of the pork import market in Taiwan, increasing its exports by 400%...

Read more Read more

British beef gets access in the Chinese market

British beef could reappear on the menu in Chinese restaurants and households by the end of the y...

Read more Read more
Websolutions by Angular Software and SpiderClass