Potato Price Trend

Potato Prices (Q1 2022)

Asia

Potato prices are expected to rise this year in comparison to last year, owing to a projected decline in production in West Bengal, the country's second largest potato producer. This year's production of the tuber is projected to be roughly 20% lower at near to 8.5-9 MT due to delayed sowing caused by unseasonably wet weather. In Bengal, the loading price of potatoes in cold storage climbed by 60% in the first quarter of 2022, to 15-16 USD/kg, up from 8-10 USD/kg a year earlier. This translates into the tuber fetching between 25 and 26 USD/kg in the wholesale market when inventories are released from cold storage in April-May.

North America

Week 8 of 2022 showed prices of common fresh Russet potato at 0.68 USD/kg, up 47.6% YoY from 0.46 USD/kg previous year. The USDA confirmed the 2% YoY reduction in potato production and forecasted a similar decrease of 1.6% for the 2022 harvest. Increasing demand from the potato processing industry pushed down stored potato commodities stocks by roughly 5% YoY.

Potato Prices (Q4 2021)

Asia

In Delhi, price per kg of potato was INR 20. The retail price was 21.22 INR/kg in India while the wholesale price was 1605.46 INR/quintal.

Europe

In Q4 2021, the European price of the commodity was recorded at 4.50 EUR/10 kg in November. The seed trade was in full swing across Europe, with big volumes moving at faster rates than a year ago. Trading began two weeks earlier than usual, despite the fact that the crop in Europe arrived two weeks later than expected. Yields and pricing were said to be good.

North America

In Q4 of North America, prices were recorded at 17.5 USD per carton in October and 15.69 USD per carton in November. Idaho's spud production was lesser in 2021 than in 2020, which contributed to the price hike. Farmers in Idaho planted 315,000 acres of potatoes in 2021, up from 300,000 in 2020, but total statewide production fell 2% to 132 million hundredweight in 2021.

Latin America

In Q4 2021, the Brazilian market price was recorded at 2 USD/MT in October, 3 USD/MT in November, 2 USD/MT in December. Low consumption was attributed to a lack of availability as well as the exorbitant rates that Mexicans had to pay for fresh potatoes. Fresh Mexican potatoes sell for roughly 25 pesos per kilogramme across the country, while those from the United States that cross the 26-kilometer border zone, on the other hand, cost between 10 and 15 pesos per kilo.

Potato Prices (Q1-Q3 2021)

Asia

The month-to-month price of potato dropped further since January 2021, when they were around 50% lower. Wholesale prices in Delhi hovered around Rs 7/kg to Rs 9/kg.

Europe

Germany and the Netherlands, two of the EU's biggest potato processors, were among the countries affected by the floods. MBPs for Netherland processing potato last stood at 18.40 EUR/kg, up 60% in the three weeks leading up to August 4th, 2021. Due to flooding, several crops were lost, resulting in a lower autumn yield. Tuber supply was at a standstill due to the lack of improvement in weather conditions. The North-Western European Potato Growers (NEPG) reported that the crop in 2021 was average/good across its membership, but that production costs were increasing. Later in the season, Eastern Europe was projected to run out of the crop. This season's export movement was expected to reflect higher transportation, container, and energy prices. Otherwise, the outlook for exports was positive. Growers were concerned about the availability of seed potatoes for the coming season, and lobbying efforts to develop a two-way trade model between the EU and the UK were continuing.

North America

In the first three quarters of 2021, in North America, the USA market price was recorded at 1.50 USD/kg. They were also investing heavily in R&D in order to introduce new products to the market and extend their product portfolio. Furthermore, as consumers became more health-conscious, producers began to introduce value-added potato chip variations that were considered to be healthier. This included items with lower cholesterol and lower fat and calorie content, as well as those fortified with healthy components. Apart from that, the well-organized retail sector had fueled market growth by making potato chips readily available in hypermarkets, supermarkets, and convenience stores. Drought circumstances and exceptionally high summer temperatures in 2021 cut average yields dramatically, resulting in a reduction in Idaho potato production.

Latin America

In 2021, prices in Brazil for the first three quarters were recorded at 3 USD/kg in January and 2 USD/kg in the quarters ending June and September. The Mexican Supreme Court voted in favour of overturning a lower court ruling that blocked the Mexican federal government from allowing fresh U.S. potatoes to be imported throughout the country in April of this year, by a vote of 5-0.

Potato Prices Overview 2020

Asia

In India, the average price of potatoes in 2020 was 222 USD/MT in the first half of the year. Fresh potato demand was strong in the processed food business in 2020, where processed items account for the majority of its consumption. In developing countries, the growth of potato producing regions had quickly surpassed that of all other food crops. In 2019, the harvested area was reported to be 4,038,885 ha, rising to 4,218,188 ha in 2020. The significant increase in Chinese production could be attributed to a number of factors.

They are suitable for a wide range of regions and climate types in China and can be planted at any time of year due to their short growth period and adaptability. The majority of China's fresh potatoes were consumed at the table. According to industry sources, 60% of the commodity was consumed fresh in homes and restaurants. In India, the production increased steadily through 2020. This was owing to an increase in its consumption in the country as a result of increased industrialization and women's engagement in the labour market, which produced a desire for processed, ready-to-eat convenience food, particularly in metropolitan areas.

Europe

Prices were recorded at 1.92 USD/kg in France, 2.15 USD/kg in Norway, and 2.2 USD/kg in Iceland. Crushed potatoes were heated throughout Eastern Europe and Scandinavia to convert their starch to fermentable sugars used in the production of alcoholic beverages like vodka and akvavit. As a result, the market for the commodity witnessed growth due to increased production and consumption in various regions of Europe.

North America

In 2020, the US market price was recorded at 2.57 USD/kg, and 2.02 USD/kg in Canada. Hectic lifestyles were driving the North American potato chips market, which led in an increase in demand for convenient and ready-to-eat snacking options. Furthermore, various producers in the region provided consumers with a wide range of chip flavours, textures, and tastes.

Latin America

In 2020, the average price in Brazil was recorded at 2.57 USD/kg. South America's frozen potato market is divided into two categories: product and end-user. On the basis of product, the market is divided into French Fries, hash browns, shaped, mashed, battered/cooked, topped/stuffed, and others. In 2019, the frozen potato market in South America was dominated by the French Fries category. They were consumed in large quantities by quick service restaurants. This was because it was simple to use and took less time to prepare. As the popularity of fast food and quick service restaurants grew, so did the need for frozen French Fries all across the world. Because of the increased need for frozen French fries in South America, the demand for potatoes increased as well.

Procurement Resource Database

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Procurement Resource provides latest prices of Potato. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

Chart Description: 

Procurement Resource provides prices of Potato for several regions around the globe, which are as follows:

  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

About Potato:

Potato is basically a root vegetable native to America. It is a starchy tuber of the plant Solanum tuberosum, and the plant itself is known to belong to a perennial in the family Solanaceae. Potato plants are herbaceous perennials which can grow about 60 cm (24 in) high, depending on the variety.

Industrial Uses: 

  • Chips
  • Flakes
  • Burgers
  • Soups
  • Salads

Production Processes: 

  • Production of Potato via "Seed Potatoes" 

Unlike other plants, potato is usually grown not from seed but from "seed potatoes", that is, small or tiny tubers or pieces of tuber sown to a depth of 5cm  to 10 cm. This crop demands cool weather and  extensive ground preparation.

Supplier Database (Processed Potatoes): 

  • PepsiCo 
  • McCain Foods Limited
  • POTATOES USA

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Methodology: 

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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