Global prices for meat increased by 1.2 per cent in July from June to hit a record high, according to the Food and Agriculture Organization’s (FAO) latest Food Price Index.
The meat index was up by 1.5 points to 127.3 points, topping the record set in June. For the last 12 months, the index has risen six per cent, which is 7.3 points.
Poultry meat was only slightly higher, while pork prices declined.
Demand for beef imports in the United States and China drove prices higher in Australia.
The overall FAO Food Price Index was up 1.6 per cent in July, with meat and vegetable oils as the drivers of the increase.
There were declines in the sub-indices for cereal, dairy and sugar.
