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Potato prices in Europe double as harvest falls below average

A 10-million-tonne drop in the EU potato harvest has fueled a surge in spud prices across the continent. Supplies across Europe have fallen 13.5% this harvest, dropping from 64.6 million tonnes in 2017 to 54.4 million tonnes this year, as a result of this summer’s drought.

The shortage of supplies across the EU has been reflected in a sharp increase in local prices, which have increased to €450-500/t for main-crop varieties. This represents almost a doubling in price compared to 2017, when supplies generally made €220-280/t.

Industry sources point out that the absence of imported alternatives for the service end of the market has helped put a floor on the trade.

While potatoes for the lower end of the trade – peeled spuds for restaurants and chip shops – made just €60-80/t last year, buyers are having to pay €340-350/t at the moment because they can’t import cheaper supplies from Britain or Europe, reports independent.ie.

The drop in potato yields across Europe was mirrored in the Irish harvest, with the total tonnage expected to be back by as much as 30pc. While Irish growers supplied 400,000 tonnes to the market in 2017, the figure for this harvest is expected to be around 280,000 tonnes.