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Meat Market Review. Emerging trends and outlook in 2024

Year of publication 2024

Place of publication Rome, Italy ;

Pages 23

Author FAO

Publisher FAO ;

Product type Journal, magazine, bulletin

Series title Meat Market Review

Series number November 2024

Synopsis (short abstract) The review finds that global meat production is forecast to increase moderately in 2024, driven by higher slaughter rates and favourable profit margins. International meat trade is also predicted to recover, as improving economic conditions and limited national supplies in some leading importing countries are expected to drive a surge in import demand. Meanwhile, international meat prices rose sharply driven by robust import demand.

Language English

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    Global meat output is forecast at 335 million tonnes (in carcass weight equivalent) in 2019, 1 percent lower than in 2018. This marks a departure from the stable growth trend recorded over the past two decades and indicates a sharper fall than anticipated in May, principally due to a deeper than earlier expected impact of African Swine Fever (ASF) in China and its spread to several East Asian countries. World meat exports is forecast at 36 million tonnes in 2019, up 6.7 percent from 2018, principally driven by increased imports by China due to domestic tightness caused by ASF-related production losses. The FAO Meat Price Index measured by the FAO Meat Price Index, have continued to register moderate month-on-month increases since the start of 2019, with pig meat, frozen in particular, recording the sharpest rise due to the surge in import demand by China. Poultry, ovine and bovine meat prices strengthened, also supported by stronger Asian demand.
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