Comment: Markets and consumption have levelled off recently, likely due to a combination of factors such as post-pandemic lifestyle and the current inflationary pressure.
The dire situation unfolding in Ukraine is putting extreme pressure on the agricultural industry and the decisions which are to be made regarding 2022 crops.
Fertiliser and diesel have reached record highs in the past week, which is casting great uncertainty for the sector.
The war in the Ukraine has overshadowed European markets this week and although world demand for processed product is at an all-time high, there is much less activity in the free-buy physical markets this week.
Exports of frozen product to Russia, which have been halted, are reported to account for around 5% to 7% of total frozen product exports (12,000t to 20,000t of raw potatoes) per month but this could “easily” be taken up by demand from Asia.
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