Futures market breaks through the limit of 30 euros

De potato futures market closed Friday, July 20 at €27,90 per 100 kilos. Monday, July 23, it opened at €29,90, only to break through the €30 barrier immediately. The highest point is now €32,50, with a turnover of almost 400 contracts.

Persistent heat
A local shower fell last week in Germany and France, among others. However, the belief in the recovery of the potato crops is far away. The weather forecast for the next 14 days indicates (in addition to drought) exceptionally high temperatures, which can be fatal for many crops. It is seen as the death blow for the potatoes. The most recent weather models forecast persistently high temperatures above 30 degrees Celsius after the last weekend of July.

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In the past 18 years, the potato futures market has surpassed the €4 level 30 times. In 2006 the April contract reached a level of €35 and even briefly €40. In 2003 it remained at €34,75. 2003 in particular is comparable to the current situation. In the other 3 years, the price peak came later, when trading took place during the storage season.

(Text continues below the chart)The April 2003 contract is most comparable to the current situation.

2003 also had a very dry summer, which affected the market at a similar pace up propelled. However, this increase took place 3 weeks later than it is now. The graph then shows a sawtooth curve when rain fell. Problems with growth cracks and through-cropping caused the price to bounce back. Completely against the trend, the market also reached a level below €15 in the same year.