W40: Potato Update

In W40 in the potato landscape, the United Kingdom (UK) potato harvest is slowing down because of intermittent rainy weather, particularly in Scotland. There's a good balance between the demand and supply, taking the pressure off potato growers to lower prices. According to the latest Mintec Benchmark Price assessments, Grade 1 White Packing Potatoes EXW England cost USD 293.93 per metric ton (GBP 240/mt), which is a 4% increase week-on-week (WoW) and a 9% increase year-over-year (YoY). Grade 1 Packing Maris Piper EXW England is priced at USD 440.89/mt (GBP 360/mt), showing a 1% increase WoW and a 71% increase YoY.

Moroccan potato exports have experienced a negative trend in recent years. Despite increasing exports, the country's fresh potato exports have dropped to a minimum in MY 2022/23. The export revenue declined by 44 to 48% annually, and Morocco moved from 21st place in 2019 to 25th in 2022. Despite this, the geography of potato supplies from Morocco has expanded significantly, reaching consumers in 44 countries. The main destinations for Moroccan potatoes are primarily African countries, with European countries occupying leading positions in the list of world importers.

Bolivia's highlands are in a crisis as their crops suffer from unpredictable weather and changing climate conditions. The potato crop is especially at risk because of the extreme heat in the country, with temperatures reaching as high as 45°C. Additionally, a severe drought in Potosí has caused a 33% decrease in water flow, making it impossible for farmers to irrigate their potato crops. This has resulted in the highest winter temperature recorded in the Southern Hemisphere during Aug-23.

Lastly, in Bangladesh, the potato market in Bogura is experiencing a price surge, leading to concerns about supply and demand. The government has introduced a fixed price of USD 0.24 per kilogram (BDT 27/kg) to stabilize the situation. Still, wholesale traders struggle to procure potatoes, causing a shortage of popular large white potatoes. Cold storage operators argue that retail traders are manipulating sales. The district administration has introduced a system selling potatoes at USD 0.33/kg (BDT 36/kg), but traders struggle to meet demand.