Open‑market prices for processing potatoes in Belgium have dropped to €50 per tonne, the lowest level recorded in several years, according to the latest data from industry body Belgapom. The price plunge is limited to non-contracted sales, which typically account for 20% to 30% of total trade. The bulk of transactions in the sector—up to 80%—remain governed by long-term contracts between producers and processors.

The sharp decline reflects an imbalance between supply and demand. A successful 2024 harvest, an early influx of new potatoes, and stagnating exports of processed products have combined to saturate the open market. As a result, demand has slowed while supply remains high.

“The market is not very lively, with supply outstripping demand,” said Belgapom CEO Christophe Vermeulen. “Unlike in previous years, processing units have enough potatoes under contract.” His remarks highlight the insulating effect of pre-agreed contracts in a volatile spot market environment.

Despite the price pressure on non-contracted potatoes, the broader Belgian potato sector remains resilient. Processing companies continue to invest in expanding their production capacity. “We’re in a period of transition, but we can’t say that things are going badly,” Vermeulen added. He also noted that potatoes remain one of the most profitable crops for Belgian growers.

Consumers are unlikely to see any significant change in retail prices. Supermarket potatoes are typically sourced through fixed contracts, shielding the end market from fluctuations in open-market pricing.

Although the open market faces temporary oversupply, the long-term outlook for Belgium’s potato industry remains structurally sound, bolstered by investment, export capacity, and producer confidence.