Türkiye sees red meat price drop amid global surge

ANKARA

Despite persistent global red meat price surges fueled by tight supplies, strong demand, U.S. tariffs and extreme weather, Türkiye has defied the trend with carcass prices falling steadily over the past eight months, according to the latest Meat and Milk Board (ESK) data.

The United Nations Food and Agriculture Organization's (FAO) latest report indicated that the global meat price index fell in October after eight months of increases, although bovine meat prices continued to rise.

Data compiled by state-run Anadolu Agency from the European Union's Commission showed significant variations in red meat prices across countries and regions.

The highest price for 100 kilograms of carcass meat is 745.3 euros in the U.K.

Last October, U.K. red meat prices stood below 600 euros per 100 kilograms, then surged past 800 euros during the summer peak before easing slightly in recent weeks.

Still, U.K. red meat prices rose around 25 percent over the past year.

In the U.S., the world's largest red meat producer and consumer, the price reached 727.5 euros per 100 kilograms in October.

U.S. prices climbed 25 percent from 580 euros a year ago.

While fluctuating over the past two years, prices have stabilized somewhat in the last six months.

In the EU, the price hit 669.8 euros per 100 kilograms.

European prices hovered around 500 euros from early 2022 to fall 2024 before steadily rising, with a year-on-year increase exceeding 30 percent.

Australia, where red meat production has surged recently, saw prices at 431.7 euros per 100 kilograms in October.

Prices there have risen unevenly since October 2023, up 13.7 percent from 380 euros a year ago.

Brazil, the top global red meat exporter, recorded 310.3 euros per 100 kilograms, with more stable prices compared to others.

Rising global red meat prices have become a key driver of food inflation in many countries.

Supply constraints are the main cause, with U.S. cattle stocks falling to about 86 million this year — the lowest in 75 years.

ESK data shows that while carcass prices rose in many countries over the last eight months, Türkiye saw an 11.2 percent euro-based decline, from an average of 10.88 euros per kilogram in March to 9.66 euros in November.

Meanwhile, cubed meat prices for Turkish consumers remain below the EU average, at 13.13 euros per kilogram compared to the EU's 16.13 euros in November.