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Analysis Potatoes

Peak appears to be reached in old crop potato market

June 28, 2024 - By our team of market reporters

The top, or perhaps better said the peak of the old harvest potato market seems to have been reached. With emphasis on 'seems', as you can never make such a statement with certainty. After all, a potato is round and you never know which way it might roll.

On average, more has already been paid this season than last year. However, the step to €70 per 100 kilos for a fry variety like Fontane is not reported. The highest known price level for Fontane is €65, with some volume to be delivered being desired.

Stagnation can also be seen in the rising trend of market prices in the various quotations in the EU-4 countries. The German Reka quotations for week 26 remained unchanged from the previous week, ranging from €62.50 for Fontane to €64.50 for Markies. Quotations in Belgium and France also remained unchanged.

For the second year in a row, the market is ending the year at exceptional price levels, which you would almost get used to. The demand for raw materials due to all the expansions of processors is such that any stagnation in supply can cause the market to make strange moves. In that sense, the development of the European acreage lags behind the demand. If an unforeseen situation arises (potatoes do grow in the open air, no spreadsheet can help with that) - as has been the case for two seasons in a row now - the market price will skyrocket.

Uncertainty also prevails for the further course of the season
There is also a lot of uncertainty about the further course of the 2024/25 season; the start of the growing season is particularly difficult. Overall, the crops in the EU-4 countries are looking poor to bad in some situations, except for the good fields! What will the effect be if a substantial period of summer weather is on the horizon, not to mention the harvest period. In short, a market full of tension that will continue at least until after the harvest period. The sentiment currently leads to offers being made to the grower for Innovator delivery in March/April 2025 at €42 per 100 kilos. For Fontane, it's a few euros less.

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