MARKET BUYERS INDICATE SHIFT TOWARDS CONTRACT-BASED PURCHASING.
UK white potato prices have reached record levels for the second year in a row according to price monitoring service Mintec.
The Mintec Benchmark for English white potatoes reached a new all-time high at £750/tonne on the 11 June, up 87.5% on last year. Harry Campbell of Mintec said: “This marks the second consecutive year of record highs, underscoring the impact of climate change on weather patterns. Market players indicate a shift towards contract-based purchasing, but growers are hesitant to commit too much of their crop, preferring to capitalise on higher free-buy prices.”
Mintec also reported that industry sources expect supplies to remain tight until the maincrop harvest which is expected in mid-July for English white potatoes, noting that stores are becoming empty as growers sell off remaining stock. Harvest delays will keep prices elevated. Growers, who faced planting delays, were hoping for warm weather to boost crop growth, but this has not occurred, analysts added.
