Trade/Markets/Prices, Trends

US(WA): Potato market set to rebound

Though the weather reduced yields for some potato growers in Washington state, prices for potatoes have been low. But growers expect prices to rebound as supplies level off with current demand and movement. “Prices haven’t been good because Idaho tried to push too much out of their market,” said Larry Sieg of Potandon Produce. “So the fresh market has been on a downward trend for the last six weeks.” Shippers were sending out potatoes on the assumption that there would be an excess amount of product available this season. But Sieg believes those assumptions will dissipate and so will excess supplies. “There was a fear factor due to the amount of potatoes,” said Sieg. “But now that we can re-examine what we’re doing, we probably don’t have to push as much.” On September 25, prices for a bag of Russet Norkotahs from Washington were between $4.50 and $6.00, and Sieg thinks those prices can only go up. “I think we’re at the very bottom of the market,” said Sieg. “Over the next week or two, we will see prices come back up.”

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