Potatoes: 31/07/2018

Ex-farm potato prices reported to the IFA

Comment: The recent spell of wet weather has been welcome for stressed potato growers. It has had the double effect of increasing market sales while giving others a small break from irrigation. However, although welcome, the amounts fallen are generally insignificant in the overall picture and will make little difference to some crops at this stage. Prices for old-season crops continue to strengthen as supplies are disappearing rapidly. It looks likely that old-season crop will be needed in the 7.5/10kg market right through September and into October. In the UK and across Europe, temperatures are still in the mid-30s. Conditions in Holland are reported as being hotter and drier than in 1976 and it is generally accepted that there will be a major reduction in yields. Crops are maturing earlier, resulting in high dry matters, even at this stage. The April 2019 European future price has continued to increase and stands now at €290t/compared with €110t at this time last year.