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Still higher than 2021 levels

UK free-buy potato prices decline in November

The Mintec benchmark price for packing potatoes in the UK declined by 5% month-on-month, to GBP 190/MT on the week of 23 November. The price of potatoes has gradually dropped since the start of harvest, as the main crop harvest was in full progress and an increasing volume of the crop came on to the market.

Despite the recent price drop, it is still up 31% year-over-year. Potato growers continue to face higher production costs compared to last year, mainly energy, fertilizer and transport costs. The cost of storing potatoes has increased significantly compared to 2021 due to higher electricity costs, the main price driver at this time of year. Market participants expect some growers to sell stocks earlier in the season due to higher drying and storage costs, driving prices down in the short term and leading to tighter stocks later in the season.


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