UK Potato Prices Register Two-digit Decrease

Price modifications are being noticed in the packaging industries as a considerable amount of the UK potato harvest makes its way onto the market. Grade 1 White Packing Potatoes EXW England were assessed at GBP470/mt on August 15th for the Mintec Benchmark Prices, a GBP80/mt and 14% decrease from the previous week.

Likewise, the Mintec Benchmark Prices for Grade 1 Packing Maris Piper EXW England were determined to be GBP520/mt, indicating a 13% decrease and a loss of GBP80/mt from the previous week.

“Market sources suggest that in the upcoming weeks, there will be continued price moderation as a greater crop supply becomes available. Increased potato sales during the summer have been attributed to colder weather conditions. Currently, a significant portion of potatoes in the market are being acquired through contract agreements, with market sources indicating that as prices ease, the free-buy market will gain more interest from buyers,” a recent Mintec release reveals.

Looking ahead to 2023-2024, Mintec has received reports indicating a favorable quality for the 2023 potato harvest. However, yield predictions for England remain low at best, while Scotland may see higher yields depending on weather conditions over the next two weeks.