As more new crop entered the market, European processed potato prices continued to fall from their record highs in July.

Dutch-processed potato Mintec Benchmark Prices were evaluated at EUR30/100 kg on August 22, which is 50% less than the record high of EUR60/100 kg seen on July 25.

“The market has seen a shift away from the supply deficit seen at the tail end of the 2022-2023 season towards an excess of non-contracted potatoes. According to Mintec market sources the majority of buyers are utilizing contracted volumes with minimal demand for free-buy supplies. This has led to growers having to sell at lower prices to incentivize purchases,” a recent Mintec release reveals.

For the potato market, a seasonal fall in pricing is expected as harvest shifts away from early types. However this negative price movement has happened later than usual because of the delays in crop development and a later harvest.

Looking ahead, Mintec was informed by market sources that they anticipated prices to keep falling in the upcoming weeks as lifting and availability kept rising.

Market participants anticipate yields to be at most average at this point. EU potato yields were predicted by the European Commission’s August Mars report to be 34.4 t/ha, which is merely 1% higher than the five-year average and remained constant from the July report. It is predicted that yields in significant potato-producing regions, such as Poland, France, Belgium, and the Netherlands, will fall short of the five-year average.