Limited Availability Boosts Potato Prices Sky High
Due to the limited availability of the modest 2023 crop, the Mintec Benchmark Prices for English white potatoes were GBP680/MT on June 4th, representing an 81.3% year-over-year rise.
“Due to tight stocks, buyers face varied prices ranging from GBP650/mt to GBP730/mt for English white potatoes this week, with growers dictating terms in a seller’s market. Trading activity for Maris Piper potatoes remains limited in both England and Scotland,” Harry Campbell wrote in his recent Mintec blog.
The expert went on to say that the next major crop of potatoes is anticipated to arrive between July 15 and July 20 for white potatoes and one week earlier for the Maris Piper variety, with a delay of up to two weeks. A comparable crop size to 2023 is suggested by the limited supply of seeds for 2024. Given their expectation of sustained high pricing into the upcoming season, several producers are delaying signing contracts for the 2024–2025 market year.
“Market sources emphasize the tight supply and high demand dynamics, with an expectation that prices will remain high until the availability of new crop increases. The challenging planting conditions and constrained seed availability have significantly influenced market expectations, highlighting the volatility and uncertainty within the potato market,” Campbell explained.
Dutch Processing Potato Price Surge
The Mintec Benchmark Price for Dutch processing potato price surged by 26.7% month-on-month to EUR475/MT in May. Market sources report that prices are continuing to rise as the likelihood of a delayed harvest due to wet plantings increases, further straining the limited 2023 potato stocks.
Europe’s planting progress for the potato crop of 2024 differs. Germany’s planting is almost finished, with government estimates from Destatis showing a 4.0% annual rise to 275,400 hectares. Due to weather delays, less than half of the crop had been planted in Belgium by May 21st, according to a survey conducted by the research group Viaverda/PCA, which is involved in the country’s potato market. Meanwhile, over 80% of France has been planted, while market sources claim that rain is slowing development in several areas. In the Netherlands, planting has quickened and now occupies 10–20% of the available land.
“Overall, favorable conditions of sunshine and showers have supported growth, though challenges persist in some regions due to heavy soil and wet weather,” Campbell cited the most recent available data.
Viaverda claims that it gets harder and harder to maintain the quality of the seed potatoes that have already been given when planting activity is delayed for an extended period. In severe situations, early types that have been stored since March suffer the most; half of the tubers dry out or develop rot on the cut surfaces, causing the seed potatoes to lose most of their original quality.
