The Mintec Benchmark price for Dutch potatoes [Mintec Code: PO29] has seen stabilization this week, settling at €120/mt, according to a news story by Harry Campbell of Mintec. He writes that this figure marks a significant 51% drop compared to the rates from the previous year.
Interestingly, this price is merely €9.00/mt lower than its 2021 counterpart. Insider sources from the market have pointed out an emerging bullish undertone in prices as processors ramp up their efforts to secure free-buy stocks. However, there’s a twist in the tale. Reports have emerged about concerns related to the quality of potatoes. Growers remain hopeful, expecting better price points and profit margins as the market year progresses.
In a parallel development, the Mintec Benchmark price for Fontane potatoes [Mintec Code: POFO] in Belgium remains steady at €100/mt, according to Harry Campbell. This rate is a sharp 60% decrease when viewed year-on-year. The market is currently flooded with a significant number of free-buy potatoes, leading to a downward push on prices. Mirroring the situation with Dutch potatoes, quality issues have prompted some growers to offload their inferior stocks. Bintje potatoes, on the other hand, continue to enjoy their traditional premium over Fontane.
Updates from France and Germany indicate a smooth progression of the ongoing harvest, according to Harry Campbell. However, there are whispers in the market about potential quality concerns regarding some of the potatoes being harvested.
Source: Mintec. Read the original report here
Cover photo: Credit Mintec