The Mintec Benchmark Price of Belgian processing potatoes rose by 122% to EUR 200/MT in the three weeks preceding August 4, 2021. Belgium is the largest exporter of processed potatoes in the European and global market. These increases are attributed to a heavy rainfall and flooding in Wallonia, one of Belgium’s largest potatoes growing areas. Also, the price was driven by demand for new crop, with buyers entering new contracts and resumption of demand from the foodservice sector.
Germany and the Netherlands, EU’s top potato processing producers, were hit by catastrophic flooding. The Mintec Benchmark Price of Netherland processing potatoes was at EUR 18.40/kg recently, up 60% in the three weeks to 4th of August 2021. Some of the potato crops are expected to be lost due to floods, leading to a decline in the autumn harvest.
This means that, without an improvement in the weather conditions, there will be bottlenecks in tuber supplies.