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Potatoes: 07/08/2018
Ex-farm potato prices reported to the IFA
Comment: The recent rainfall has given potato growers a much-needed boost to the growth of the plant as well as a welcome break from the costly exercise of irrigation. Traditionally, the past week has always been a slow week in the potato trade due to seasonal holidays, but consumption and sales should be on the rise again with the new school year beginning shortly. However, second growths is now becoming an issue due to the plant being dormant for a period during the recent drought in both irrigated and non-irrigated crops. The application of suitable sprays to prevent this problem is again adding extra expense to an already difficult year in the sector. Prices for old-season crops continue to rise, as supplies are getting scarce. The trade for early potatoes has not fully kicked off yet, according to IFA potato chair Thomas McKeown. At this stage, it looks likely that old-season crop will be needed in the 7.5kg-10kg market right through September and into October. In the UK and across Europe, they are still seeing temperatures in the high-20s to early-30s.
Across Europe, crops are maturing earlier and dry matter levels are higher than anytime over the past six years and many growers are expected to be short of their contracted tonnages. The April 2019 European future price has continued to increase, with the price now at €298/t.
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