The initial harvest of early potatoes has led to a decrease in prices within European potato markets, as reported by Harry Campbell, a market researcher at Expana. The Expana benchmark price for Belgium's processing potatoes has seen a 60% reduction month-on-month, now standing at €250/MT. This price drop is attributed to the increased availability of the new crop for processors and the subsequent reduction in competition among buyers. Market insiders anticipate further declines in pricing as the maincrop becomes available, a typical seasonal trend.
Despite the EU Commission's lowered yield projections for this month, at 35.1 t/ha, which is 1% below the five-year average, favourable weather conditions are expected to support crop development and benefit those planted later in the season. The industry is hopeful for a dry harvest period, enhancing the storage longevity of the potatoes and ensuring a more stable supply in the later months.
Contrasts are drawn to the previous year's wet and delayed harvest, which significantly influenced prices in the 2023/2024 marketing year due to quality and supply issues. Should the 2024 harvest proceed without climatic interruptions, market sources suggest that the price spikes experienced in the 2023/24 period are unlikely to recur.
Source: potatonewstoday.com