Commodities markets are quite uncertain at the moment, with wheat prices having reached record highs. However, potatoes are still cheap and plentiful. Despite this, and with the exception of a brief recovery during the pandemic, there has been a slow and steady decline in fresh potato consumption in the UK. The trend shows no sign of changing - despite this year's rocketing food prices.
East Anglian farmers grow tonnes of potatoes. They are a useful break crop from cereal - enabling farmers to disrupt the cycle of weed infestations which can plague their wheat crops. They are also rich in potassium and have been a food mainstay for centuries. This year's East Anglian potato crop is looking very promising - and from a grower's standpoint farmers are very pleased. But prices are low - making some of their crops uneconomical.
So while wheat prices have reached up to £356/t compared to £170/t or so in 2021, potatoes are being sold into a much more challenging market.
Source: eadt.co.uk