On January 16th, the Mintec Benchmark Prices (MBP) for White Potatoes rose by 16.3% week-on-week (w-o-w) to £465/mt, reflecting an increase. Conversely, the MBP for Maris Piper Potatoes rose by 16.6% w-o-w over the same period to £560/mt.
Market sources attribute the respective price increases to growers holding firm offers amid limited supply availability.
Despite the substantial increases, sources note that procurement challenges persist, leading growers to maintain bullish sentiments and anticipate further price hikes in the coming weeks.
The scarcity of potatoes on the market is a result of last year's adverse weather conditions during the harvest, particularly impacting Maris Piper potatoes.
This limited availability could prompt retailers to compensate for the shortfall by substituting Maris Pipers with white potatoes. Industry stakeholders are closely monitoring March plantings, acknowledging that a wet planting period could potentially move prices higher, as it would delay the 2024 harvest.