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

Mintec: UK potatoes at all-time highs for the second year in a row

The Mintec Benchmark has reached a new all-time high at £750/MT on the 11th of June for English white potatoes, up 87.5% year-on-year, reports Mintec market analyst Harry Campbell. 

Campbell says according to market sources, supplies will remain tight until the maincrop harvest which is expected in mid-July for English white potatoes, with one source noting, “Stores are getting empty and switched off” as growers sell off their remaining stock.

Each week the harvest is delayed will keep prices elevated. Growers, who faced planting delays, were hoping for warm weather to boost crop growth, but this has not occurred. 

This marks the second consecutive year of record highs, underscoring the impact of climate change on weather patterns. Market players indicate a shift towards contract-based purchasing, but growers are hesitant to commit too much of their crop, preferring to capitalise on higher free-buy prices. 

Source: Mintec
Harry Campbell, Market Analyst, Mintec

Cover image: Credit Alexei from Pixabay

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