The current potato market of harvest year 2024 follows almost the exact track of the previous season and also of the season 2022/23. In week 3, the same 'station' was even visited (junction). If this track is followed further, the average market price in the EU-4 countries will be above the €40 level in mid-May.
The futures market for the April 2025 contract is trading at €5 at the end of week 34, more than €2 lower than last year at this time when it came to the April 2024 listing. The cash settlement (CS, level at which the outstanding contracts were settled) in week 17 April 2024 ultimately came to €36,50. The current CS (published by the EEX on Thursday 29 January) is €28,70, but will soon exceed the €30 level if Belgapom, like Viaverda, also makes the move to €30.
As has often been the case in recent years, the Netherlands has the lead for the contribution of the CS with €31,55, the French contribution is far behind with €25,60. The Belgian (€28,10) and German (€29,50) contributions for the CS are in between.
Bags not an issue
Although the market currently feels calm with February just around the corner - few transactions are being reported - there are few reasons why it could fall back. Insiders expect the market to continue to 'rumble' in the coming weeks, with the mood normally being determined by spring. With an earlier spring, you see a certain unrest among farmers. The new season is in the air and then there is less attention for what still needs to be done with the old harvest, which has often caused market prices to fall. The coming spring (early/late) could also have an effect.
No free potatoes
The fact is that there are only a few free potatoes on offer that could have a depressing effect on the market. Furthermore, growers have been able to experience for up to two seasons in a row that the average market price at the end of the storage period has risen above the €50 level and then €30 is just very ordinary. Of course, you get used to everything.