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Chinese potato prices under pressure

The price of Chinese potatoes from Chifeng in Inner Mongolia started high this season and maintained this position for about 10 days, but from the 25th of July, the price began to fluctuate. The price then declined more significantly in early August. Potatoes from Weichang in in Hebei entered the market in late July, half a month later than last year. The arrival of Hebei potatoes put pressure on the price of potatoes from Inner Mongolia. In addition, the product quality of potatoes from Weichang is subpar, which means that the first 20 days of their sales season have been slow.

There are several reasons for this development. First, domestic market demand is insufficient. Second, the order volume from Southeast Asia recently declined. The previous deliveries have not yet been absorbed by Southeast Asian markets. Furthermore, the price of potatoes from refrigerated storage in Shandong is too high. The production areas in Shandong first suffered from frost, then experienced hailstorms, and when the refrigerated warehouses began to stock potatoes, the rain was near continuous.

As a result of these weather conditions, the production volume, product quality, color, and size of potatoes from Shandong are all inferior in comparison with last year. Even in storage the rainy weather caused the potatoes to sprout. The percentage of top-quality stock in storage is extremely limited. Shandong potatoes do not sell well in the markets in Guangdong because they have to compete with potatoes from Xinjiang.

There is little room for profit in the potato market. Supply exceeds demand, at least in the short term. And the potato price will remain under pressure.

Source: Zhuochuang Information

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