Lack of interest in buying led to a drop in prices for french fries last week. The futures market is at its lowest level since the end of July. Dutch portal Nieuweoogst.nl.
On October 24, PotatoNL reduced the price of french fries in category I and for specific destinations in category II. The decrease occurred by 0,25 euros and 0,50 euros per 100 kg, respectively. For category I, the reference price is 23,50 euros, and for category II it is set at 26 euros per 100 kg.
This was followed by a decline in Belgian quotes. PCA / Fiwap notes that the producer price for Fontane and Challenger potatoes ranges from 22,50 to 25 euros per 100 kg, which is 1,25 euros less than last week.
The trade association Belgapom announced that the same varieties were 21 percent cheaper on October 10 at €22,50 per 100 kilograms.
Stockbroker De Vries & Westermann attributed the price decline in the current potato market to a lack of buyer interest in french fry production. This may be a consequence of a preliminary harvest estimate carried out by the Dutch Central Statistical Office. According to the agency, the gross potato harvest will be 0,6 million tons, or 19 percent more than last year. Crop estimates in Europe are still less positive.