It seems that South African potato prices surged by more than double over the year, increasing by 102% in October 2023, exceeding the 2022 mid-October potato average prices and setting a new high staple for the vegetable. Currently, a 7-kg bag of potatoes costs between R110 and 120 in South Africa, while a 10-kg bag costs about R189.99 at grocery stores like Checkers, OK and Food Lovers Market.
In week 38 of 2023, potato prices averaged R10,704 per ton, an increase of 21% week-on-week, driven by a decline of 27% week-on-week to 13 291 tons. The industry’s price surge was driven by increased power cuts and an increase in farm input costs.
According to Agri SA president Jaco Minnaar, in addition to load shedding and the drier conditions in the country’s northern regions where about 60% of local potatoes were farmed, low output by suppliers has added to the price hike.
Minnaar said because the South African potato farming market was struggling to meet the needs of production, the country was relying on importing. However, even that was hard hit by high-cost prices influenced by factors such as the Russia-Ukraine conflict.
[ R1 = €0.05 ]
Source: dfa.co.za