Meat prices to drop by end of the year

Trends in the world market of meat and poultry are monitored by Agricultural Business Research Institute (AKI). Data from the Market and Price Information system operated by AKI and KSH can be useful for even short term business decisions. Chicken production in the world is up by 5 percent this year. Production in the EU is 8.4 million tonnes, whereas consumption is 8.45 million tonnes, making the EU a net importer. Production in Hungary is up by 10 percent in 2008, while prices are up by 20 percent, but are also expected to drop by the end of the year. According to data from FAO, both the world production and consumption of pork is up by 2 percent, while supply is shrinking in the EU. Prices have increased world-wide, as a result of growing demand in developing countries. Prices in Hungary are up by 16 percent for domestic production and by 19 percent for imports.