According to reports in trade media, potato prices have risen sharply over recent weeks. According to a survey by The Grocer, retail prices for UK potatoes were double that seen for the same period last year.
The biggest riser was Aldi’s Specially Selected Jersey Royal New Potatoes (500g) up 101.3% in a year from 79p to £1.59, followed by Tesco’s seasonal New Loose Potatoes, up 72.73% from 11p to 19p. There were eight lines more than 50% dearer.
Earlier in June, Tim O’Malley of Nationwide Produce had warned that due to weather and crop shortages, wholesale prices had hit the “highest levels I’ve ever known.” Recently buyers across Northern Europe have been chasing dwindling stocks of old crop potatoes, despite market resistance to high prices. Cold winds in coastal areas and dry conditions have slowed the growth of new season crops in some regions, although irrigated crops have performed well in the recent warm sunny weather.
Commenting on social media, Tracy Bush, director at Provenance Potatoes said the large percentage increases were because prices “were at such a low (and unsustainable) level last year and the year before that and the year before that…”
Supermarket buyers have said there is a lag between wholesale and retail prices, which could continue to push product inflation on the shelf, and which is also likely to affect suppliers of processed products such as crisps.