The UK’s Food Department, Defra, recently released its potato production figures for 2022/23, reporting a decline of 6.4% compared to 2021/22, a total of 4.8 million tonnes. While the old UK potato crop is mostly being traded at higher prices due to limited supply, the new season’s crop trade is also starting to pick up, as Harry Campbell reports for Mintec.
However, demand is outpacing supply as freshly harvested crops are quickly bought up. Despite some new crop entering the market, Maris Piper volumes remain low, which is reflected in the latest price trend. The Mintec Benchmark Prices for Grade 1 Packing Maris Piper EXW England [Mintec Code: KZ03] were assessed at £470/mt, a year-on-year (y-o-y) increase of 327%.
Similarly, the Mintec Benchmark Prices for Grade 1 White Packing Potatoes EXW England [Mintec Code: POWP] are currently priced at £400/mt, up 627% y-o-y. These higher prices are mainly due to delayed harvest and reduced stocks from the previous year.
Market sources indicate that there will be some price relief by September when most of the 2023/24 potato crop is harvested and available.
Source: Mintec. Full report here