Market and consumer data analytics company A-INSIGHTS last week published its latest monthly newsletter on trends in the Frozen Potato Products industry, titled ‘April Insights‘. The company reports that global trade volume trended down 3.1%YTD compared to 2019, with prices down 5.8%YTD. A-INSIGHTS further speculates that strong Mexican imports might possibly the driving force behind part of the US import increase.
Volume recovery slows down in April, prices show minor increase
Although the YTD trade volume until April has surpassed the 2020 trade volume in the same period, recovery appears to slow down. Where the March volume was equal to 2019, the trade volume in April was 5.3% lower than in 2019.
This volume decline is visible in the reduced exports by the Netherlands (-17.1%) and Belgium (-5.4%). The average price has increased slightly (+€0.01/kg) in April, but remains 4.9% below 2019 price levels.
Total export YTD until April (in th. tonnes & price/kg)
April export volume and price per kg by exporting country, compared to 2019 (top 10)
Strong Mexican imports possibly drive part of the US import increase
Compared to previous years, Mexico has more than doubled the frozen potato product imports in 2021. The vast majority of the additional import is supplied by the U.S., possibly driving part of the increased import by the latter.
The import increase is remarkable as the country continues to be heavily impacted by the pandemic, but might be partially related to increased numbers of tourists due to relatively limited travel restrictions.
April import volume and price per kg by importing country, compared to 2019 (top 10)
United States and Mexico imports YTD until April (th. tonnes)
This and similar potato industry reports produced by A-INSIGHTS are available monthly. You can subscribe to receive the company’s newsletters free of charge here: https://annual-insight.nl/#newsletter-signup.
For questions about this report or any other A-INSIGHTS services and reports, feel free to get in touch with Mathieu Geuskens, Senior Analyst at: [email protected] or +31 (0)20 261 1977 / +31 (0) 6 13 1140 66.
Cover image: Foodbev.com
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