The first early potatoes have been lifted, causing downward price action in the European potato markets, according to Harry Campbell, market researcher at Expana.
Campbell notes that the Expana benchmark price (EBP) for Belgium’s processing potatoes has declined by 60% month-on-month to €250/MT as more of the new crop becomes available to processors and competition for potatoes abates with the increase in supply.
According to market sources, as more of the maincrop enters the market in the coming weeks, they expect a continuation of the downward price trend, as happens seasonally.
Campbell says despite reduced EU Commission yield expectations this month – which currently is at 35.1 t/ha or 1% below the 5-year average – weather conditions are good, which should improve crop development and benefit late-planted crops.
Market players are hoping for a dry harvest, which would allow potatoes to be stored longer and increase availability later in the season. Last year’s wet and delayed harvest was a major price driver during the 2023/2024 marketing year due to quality issues and supply deficits later in the season.
According to market sources, if the 2024 harvest proceeds without weather disruptions, prices in 2024/25 are unlikely to reach the levels seen in the 2023/24 marketing year.
Source: Harry Campbell, market researcher, Expana
Contact:
harry.campbell@expanamarkets.com
Image: Credit Wolfgang Eckert from Pixabay
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