Weekly Product Updates

W50 Potato Update: US Potato Exports Surge, European Potato Prices Rise, and Potato Supply in Bangladesh Declines

Fresh Common Potato
United Kingdom
Published Dec 21, 2023

US Potato Exports Increase by 10.8% YoY from Jul-23 to Sep-23

United States (US) potato exports increased by 10.8% year-on-year (YoY) to USD 607 million from Jul-23 to Sep-23, with fresh potato exports increasing by 10.4% YoY by volume and 10.1% YoY in value. Mexico saw a significant increase in fresh export volume, reaching 48.8%. However, fresh potato exports to Canada and Taiwan decreased by 3.3% and 6%, respectively, compared to the same period last year. Frozen potato exports were down 8.6% YoY by volume but up 11.6% YoY by value, with a 3% YoY increase in volume to the Gulf Cooperation Council (GCC) region and a 5% YoY increase in the Philippines. Dehydrated potato exports increased by 13.3% YoY by volume and 8.9% by dollar value, with a 34% increase in volume to Central America and a 20% increase to Japan.

European Potato Prices Surge Amid Heavy Rains and Muddy Conditions, Highlighting Climate Change Impact

The prices of potatoes in Europe are experiencing an increase attributed to persistent heavy rains, leading to muddy conditions and complicating the collection process. Farmers in countries like Belgium, France, and the United Kingdom (UK) face challenges as they refrain from using tractors to avoid the risk of crop rot. Potato futures in Europe are currently at their highest seasonal level in 14 years. This price rise reflects a broader trend where various crops, including sugar beet harvests and winter grain plantings in France, are impacted by climate change's effects.

German Potato Market Sees Increased Demand Ahead of Holidays Despite Previous Organic Potato Decline in Oct-23

The potato market in Germany has seen a decrease in demand for organic potatoes, with a decline of 18.7% in Oct-23. However, the market is starting to pick up in the run-up to the holidays, with high retail prices and sufficient supply. The potato demand has increased due to the Christmas trade and a lively wholesale trade. The market is supplied with products from storage, with prices adjusted accordingly. The upcoming holidays have stimulated sales of consumption potatoes, and the focus is on the availability of seed potatoes in 2024. Prices in Hesse and Brandenburg remain significantly above 2022’s levels. The potato harvest quality was poor in Germany due to extreme drought, wet summer, and warm August and September, with many growers losing part of their harvest due to heavy rain.

Russia Implements Six Potato Processing Projects Aimed at 2.5 Million Tons by 2026

Russia is implementing six potato processing projects across various regions to process at least 2.5 million tons of raw materials by 2026. This is possible while maintaining good potato harvests. The Ministry of Agriculture predicts a record 30-year potato harvest of 8.4 million tons in 2023, a 15% YoY increase due to favorable weather. This year's production exceeded the target of 7.9 million tons for 2030. Moreover, the Russian greenhouse industry could increase production by 1 to 1.5% to reach 1.7 million tons. The Russian greenhouse industry currently has 45 greenhouse complexes, with plans to increase production volume by another 190 thousand tons in the 2023/24 season. In 2022, greenhouse vegetable production increased by 8%, while open-ground and protected-ground vegetables saw record harvests.

Potato Supply Declines as Cold Storages in Rajshahi, Bangladesh in W50

The supply of potatoes from cold storage in Rajshahi, Bangladesh, to other districts, including Dhaka, has decreased by half over the past two weeks. Typically, the 36 cold storages in Rajshahi collectively provide at least 1 thousand tons of potatoes daily to other districts. The General Manager of New Uttara Cold Storage Limited has mentioned that their potato stock is nearly depleted. He emphasized the importance of emptying the storages by Dec-23 to prepare for the upcoming sowing season and create space for new arrivals by the end of Feb-24.

The Deputy Director of the Department of Agricultural Extension in Rajshahi mentioned that the district's current potato stock will last at least one more week. However, he added that newly harvested potatoes would be available in the markets by then. The district's cold storages, which had about 18 thousand tons of potatoes in W48, now have a recorded stock of approximately 9.4 thousand tons.

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