As sharp price declines continue in the UK and EU potato markets amid limited trading activity, Maris Piper prices in the UK recorded an uptick on June 17, holding steady on June 24, bucking recent trends.
Potato prices have dropped significantly over the past few months. Demand is low, as many buyers are covered by contracts for the current season (in response to tight supply in the two years prior), and spot purchases are therefore minimal. In addition, following a successful harvest for the 2024/25 marketing year (MY), supply is ample. The low demand and high supply situation is compounded by the fact that, following a sustained period of warmer weather, potato consumption has decreased.
Expana Benchmark Prices (EBP) for English white potatoes stood at £120/mt on June 24, down 4% week-on-week (w-o-w) and 25% month-on-month (m-o-m). Similarly, European potato prices have fallen further, with the EBP for Belgian Fontane potatoes dropping to €50/mt on June 17, a low not reached since 2021. These prices stand in stark contrast to year-ago figures, when prices soared on the back of tight supply. The EBP for English white potatoes peaked in June 2024 at £765/mt, the latest price (June 24), therefore, representing a year-on-year decline of 84.3%.
After declining sharply from mid-April, the Maris Piper packing exw Scotland UK EBP stabilized at £130/mt in recent weeks, with market sources reporting to Expana that stocks were possibly starting to decline.
On June 17, however, sources confirmed that good-quality Piper stocks were running very low, putting upward pressure on prices. As a result, the EBP for Scottish Maris Piper climbed to £175/mt, a 35% w-o-w increase and a contrary movement to all other potato EBPs, which continued to decline. On June 24, Scottish Maris Piper prices were unchanged, as the market remains quiet.
A seasonal price drop is recorded historically in July/August, as new crop supplies enter the market, and this will remain a watch-out factor for industry players.
Image source: Getty
Written by Craig Elliott
