<img alt="" src="https://secure.item0self.com/192027.png" style="display:none;"> Top Stories

A sharp rise in EU potato prices in early August 2021

August 9, 2021

1 mins read


The Mintec Benchmark Prices (MBPs) for Belgian processing potatoes rose by 122% to EUR 200/MT in the 3 weeks to 4th August 2021, as processors began to switch over to utilise new crop supplies. Belgium is the largest exporter of processed potatoes globally and processors are beginning to benefit from a resumption in demand from the foodservice sector. The price increase was also driven by heavy rainfall and flooding in Wallonia, one of Belgium’s largest potato growing areas (43,500ha yearly average). Aside from the direct loss of area due to the flooding, test digs have shown instances of growth cracking and low tuber dry matters which could potentially further tighten the available processing supply this season.

Germany and the Netherlands, EU’s other top potato processors, were among countries that were also hit by catastrophic flooding. The MBPs for Netherland processing potato was last recorded at EUR 18.40/kg, up 60% in the 3 weeks to 4th of August 2021. Some of the potato crops are expected to be lost due to floods, leading to a decline in the autumn harvest. Without an improvement in the weather condition, there will be bottlenecks in tuber supplies.

According to a North-western European Potato Growers (NEPG) press release, issued on the 12th of July 2021, planted area in EU-04 (Belgium, Germany, France, and the Netherlands) decreased by 4.7% y-o-y to 497,700 ha. As a result, the EU potato planted area declined for the first time in two decades. Belgium and Netherlands witnessed the largest declines, which also contributed to price increases in these two regions.

Mintec expects that Benchmark Prices for processing potatoes in the EU will stay elevated throughout Q3 2021 on the back of a drop in planted area and adverse weather conditions during harvest.



Topics: Fruit & Juices

/You May Also Like

Featured Image
The Mintec Benchmark Prices [MBP] for Wheat Milling 11% DDP Rouen FR...
Featured Image
At NOK 128.3/kg on 15th March 2023, the weighted average salmon price...

Mintec Analytics

The spend intelligence you need, about the food products you buy, all in one place.