Uncertainties have recently emerged regarding the harvest of the EU’s potato crop in 2023. This follows earlier in the year’s weather problems, which included rainy weather during planting and hot, dry weather in May and June.

These conditions may have had an impact on crop development. Many EU nations, including top producers Germany, the Netherlands, and Poland, have seen a decline in planted areas. Market sources claim that average yields may fall short of the five-year average, and when paired with the tiny crop acreage, the harvest may rank among the smallest in history.

“Despite this, there has been some price relief in the market, with Mintec’s Benchmark Price for processing potatoes ExW NL priced at EUR500/mt on 9th August, down EUR100/mt since 26th July when the price was at the all-time high on the Mintec Analytics platform. As the delayed new crop begins to enter the market, market sources have said that they expect a further decline in prices in the next few weeks as more potatoes become available,” according to a recent press release.

Even though the new crop has temporarily reduced costs, many market participants anticipate that prices will remain above average throughout 2023–2024 MY since demand is projected to remain strong and supplies will likely be constrained.