Europe, UK, Ireland, News January 2023, Processing, fries, chips, Trade/Markets/Prices, Trends

Mintec: EU potato contracts up 20-30% amid higher production costs

Throughout 2022, potato growers in the EU were impacted by higher production costs, largely from energy, fertiliser and transportation. As Alice Witchalls reports in a news story for Mintec, higher costs are weighing on growers’ profit margins and are driving the cost of cultivation and storage to unsustainable levels.

In the 2022/23 season, significant driving factors, including higher input costs, have not been fully reflected in higher retail pricing. According to market sources, contract prices have risen by 20%-30% across the EU for the 2023/24 marketing year (MY) to account for this.​

In the absence of financial government support for farmers, the industry’s profitability and sustainability are under threat. There is a risk that in consecutive seasons some farmers will opt to grow alternative crops, such as cereal or oilseeds, to achieve higher returns.

Source: Mintec. Full story here
Photo: Credit Günter Rupprich from Pixabay

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