Potato prices are unusually high this autumn after adverse weather hit crops across Europe earlier this year.
EU potato prices were up 13% year on year this month to €142/Mt (£128/Mt) because poor weather delayed harvests and reduced yields, Mintec says.
“Potato production is expected to fall 2% year on year to 24.9 million tonnes, due to a decline in yields as weather conditions have not been favourable this year,” it adds. “Europe experienced cold and wet conditions in spring and early summer, followed by heatwave in August and September, which delayed the harvests and has reduced yields.”
With average yields down 6%, EU potato production for 2016/17 is expected to fall 2% year on year to 24.9 million tonnes, despite a 5% year on year increase in EU acreage.
Potato supplies are also tightening in the UK, where growers have suffered low prices in recent years due to falling consumption and the bumper 2014/15 crop.
“Average prices of GB potatoes, while under seasonal pressure, are remaining firm and are higher than is usual,” says AHDB market analyst Sara Maslowski. “This is partly as a result of particularly strong prices at the end of the 2015/16 season as a smaller 2015 crop meant less availability at the end of the season, which supported GB prices.
“Late planting together with colder and wetter weather in June meant that new season crop development got off to a slow start, which added further support to prices.”
British demand for the humble spud is also beginning to rise. “According to the recent data, the decline in UK potato consumption is beginning to ease,” says Andy Weir, head of marketing at wholesaler Reynolds, which will be revising its six-month prices in line with price hikes on 1 November.
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