Things are not going very smoothly with the planting of potatoes for the 2024 harvest year. Admittedly, the differences per region are large, but a lot still needs to be done. This is strongly reminiscent of last season, when a late start to the season made it possible to sell the last part of the 2022 harvest. Can the potato market return to €60, just like last season?
In principle, there is no reason to think that this would not be possible, since the 2022 harvest year is very similar to the subsequent 2023 harvest year. Also last year around this time, Belgapom quoted €40 per 100 kilos for Fontane and Challenger, just like the French RNM and German Reka potato quotations. (Article continues below the graphs)
The prelude to a further increase last season was given by a late start to the new growing season; a situation that also exists in May 2024. In fact, the planting season is even further behind. Growers from various cultivation areas indicate that they have great difficulty with spring work, especially because of the condition of the soil after the last harvest. The weather forecasts are viewed with fear and trembling, which again do not seem favorable for next week (week 20). (Article continues below Tweets)
Growing potatoes in the EU-4 countries is becoming an increasingly volatile business due to often uncontrollable circumstances. The market going off course, for whatever reason, seems to be the rule rather than the exception. The fact that the contract price for the 2024 harvest year has made a more than significant increase does not change anything. It is fine to grow potatoes under contract and also logical given what is paid by the buyers, but then the potatoes still have to be planted, allowed to grow and harvested.
Where can the potato price go?
Which price corresponds to which situation? One thing is certain, the French fries sales and sales prices are such that a processor is not likely to leave potatoes behind. After all, the competitor may pay the price. Another fact is that with the volume of raw material on contract (fairly firmly in hand), the processors will only start moving if there is really a need for it. That is and will certainly be the case in the coming weeks, but what market price goes with it... Let's assume that €60 comes first!