Potato Prices & Commentary

Ex-Farm Potato Prices reported to IFA

Despite the warmer weather over the past week, potato consumption has maintained at high levels with the Easter market adding to this also. The wholesale and peeling markets are once again under a little pressure as store material are coming to an end.

On a positive note, rumors of potato imports over the last week are unfounded. Planting progress has progressed very well over the past week expedited by the fine weather.  This is in stark contrast to last year where planting did not begin until May in most parts of the country. Across the U.K and Europe are reports that prices for table potatoes have slightly increased as stocks of old crop have declined.

In the U.K crops are progressing well as planting is ahead of the long-term average and the recent warm weather has kept progress on track. Farmers with material in store need to be aware of this as it could impact on the peeling market in June/July period if there is an early harvest.

The export market to Eastern Europe from the U.K appears to have picked up again this week and there is already demand for next week which buyers are finding difficult to fill.

The cooler weather over the past week has maintained higher potato consumption levels. Irish glasshouse potatoes have made their appearance on the market for the first time this year. There is still a little pressure in the wholesale and peeling markets from ambient store material.

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Ex-Farm Potato Prices reported to IFA

There has been little change in the domestic potato market. Wholesale and peeling markets prices have stabilised following some selling pressure as growers tried to move on ambient store material. However, this ambient stock both here and abroad will have left the market by the end of the month. Planting has continued over the past number of days but only in a haphazard fashion and only on drier land. There is no panic as growers in general are ahead of schedule and are prioritising other tillage operations. The NEPG (North-Western European Potato Growers) have estimated that the upcoming area for consumption potatoes in 2019 will increase between 1 and 2 % towards almost 604.000 ha in the 5 main production countries. This is the largest area for more than ten years and has been driven both by higher prices, processing demand but also by the poor forward prices in both the sugar beet and overall cereal sector in the EU. On this basis, Irish growers need to carefully consider planting decisions as despite poor yields across Europe this season there will ultimately be enough product to last until the new season in July.