Even before this weekend’s torrential rainfall, rain was interrupting potato harvesting in Scotland and elsewhere in the UK, helping to support new season potato process.
According to market analysts Mintec, there is a stable balance between free-buy demand and potato supply. Growers have experienced minimal pressure to reduce prices, resulting in slight price increases or largely unchanged rates on a week-to-week basis.
According to the group, ‘Market sources anticipate that prices will consolidate around these levels before increasing as growers put their potatoes into storage. A market condition to note is the low, and in some instances, non-existent premium for English potatoes compared to Scottish potatoes. This phenomenon has been attributed to recent wet weather, which has restricted supply in Scotland, prompting growers to request higher prices and forego the typical transport discounts associated with Scottish potatoes as there is enough demand in Scotland to sustain this.’
As of October 4th, the Mintec Benchmark Price for Grade 1 White Packing Potatoes EXW Scotland [Mintec Code: POSPW] was at £230/mt, with no change observed on the previous week. In the case of grade 1 Packing Maris Piper EXW Scotland [Mintec Code: POMP], prices were around at £345/mt, up £5/mt on the previous week.