EU potato contracts up 20-30% amid higher production costs

Published 2023년 1월 17일

Tridge summary

EU potato growers faced increased production costs in 2022 due to energy, fertilizer, and transportation expenses, leading to unsustainable cultivation and storage costs and pressuring profit margins. Despite these increased costs, retail prices have not significantly risen, leading to concerns about the industry's profitability and sustainability. In response, contract prices are projected to increase by 20%-30% for the 2023/24 marketing year. The absence of government financial support has sparked fears that some farmers may shift to growing alternative crops to improve profits.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Throughout 2022, potato growers in the EU were impacted by higher production costs, largely from energy, fertiliser and transportation. As Alice Witchalls reports in a news story for Mintec, higher costs are weighing on growers’ profit margins and are driving the cost of cultivation and storage to unsustainable levels. In the 2022/23 season, significant driving factors, including higher input costs, have not been fully reflected in higher retail pricing. According to market sources, contract prices have risen by 20%-30% across the EU for the 2023/24 marketing year (MY) to account for this. In the absence of financial government support for farmers, the industry’s profitability and ...

Source: Potatonewstoday