Potato prices in Europe have fallen below zero due to a surplus crop
The European potato market is facing a significant excess of supply over demand, forcing farmers to pay extra for the disposal of their products. According to a study by DCA Market Intelligence, the total volume of potato surpluses in the European Union countries reaches approximately 3.3 million tons.
This is reported by the Grocery Gazette.
“Not everyone has the opportunity to store potatoes for such a long time, and there are currently no forecasts for an improvement in the market situation. Therefore, producers decide to stop spending on cooling warehouses,” said market specialist Niels van der Boom.
PotatoNL has recorded prices at a level of -0.86 to -0.87 pounds sterling per 100 kg of potatoes intended for livestock feed. Due to the lack of buyers, volumes are redirected to biodiesel plants and animal feed, and the costs of exporting products fall on the shoulders of farmers. In Belgium, about 800 thousand tons remain in warehouses, while in France the surplus is estimated at 1 million tons.
Read also
Corn prices in Ukraine could fall by $50–70 per ton due to port blockade
China’s soybean meal prices rise more than 6% in July
Soybean prices in Ukraine fall following rapeseed and sunseed prices
Iran to boost flour exports to Iraq through purchases of Russian and Kazakh wheat
South Korea expands mandatory GM labelling to edible oils and fats
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon