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.
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