Europe, UK, Ireland, Most viewed stories, News April 2024, Trade/Markets/Prices, Trends

Soaring spuds: Prices at record highs in the UK as supply tightens and imports increase

On April 16th, the Mintec Benchmark price for English white potatoes hit an all-time high of £570/MT, marking a 90% year-on-year (y-o-y) increase. Market sources anticipate a continued upward price trend due to tightening supply in the coming months, as Harry Campbell reports for Mintec

Meanwhile, Maris Piper potatoes are priced at £610/MT, reflecting a 144% y-o-y rise. However, trade for Maris Piper remains minimal across the UK due to limited availability. Market players speculate that the price of white potatoes may surpass the Maris Piper price before the 2024 harvest, with growers holding back stocks in anticipation of further price hikes. 

Import activity into the UK persists, with ongoing shipments entering the UK from the EU, Israel, and Egypt. This follows the decision by some supermarkets to remove the Union Jack from packaging. Market sources indicate that white potato imports are priced between £520/MT and £600/MT, with the variance attributed to quality differentials. 

Planting operations are underway in regions of England, predominantly on lighter soils. However, Scotland has yet to commence planting activities. Further delays would likely impact the timing of the 2024 harvest.

Credit Mintec

Source: Mintec. Original post here
Author: Harry Campbell
Cover image: Credit Alice Walker from Pixabay

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