World meat prices increased by 1.6% in April, although the average price index was 0.4% lower than in April 2023, according to the Food and Agriculture Organization of the United Nations (FAO). The FAO's meat price index reached 116.3 points in April, a 1.9-point (1.6%) increase from March. International prices for poultry meat and beef increased due to stable imports from the Middle East amid production issues related to bird flu outbreaks. Prices for lamb slightly recovered due to expected seasonal supply reductions in Oceania. Overall, the FAO's food price index in April was 119.1 points, with a 0.3% increase from March, attributed to smaller increases in vegetable oils and grains. The grain price index was 111.2 points, down 0.3% from March and 18.3% lower than April 2023, with stabilized wheat export prices despite concerns over adverse weather conditions in parts of the EU, Russia, and the US. The vegetable oil price index reached a 13-month high at 130.9 points in April, driven by higher sunflower and rapeseed oil prices amidst decreases in palm and soybean oil prices.
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