Market Report April 13th, 2022

News Category: Market Reports
Potato truck

Chip business is steady. Storage chip potato supplies are balanced. The remaining good potatoes have been spoken for. Some are likely to be dumped due to spoiling. The harvest continues to ramp up in central Florida. Florida’s chip potato shipments, through April 9, have been running 26.0% ahead of the year-earlier pace. Reports indicate that the central Florida crop is average for yield and quality. Rain has delayed planting in southwest Michigan.  

Canada reports that it had 45.31 million cwt of potatoes in storage on April 1. That is 7.31 million cwt more than the year-earlier inventory, a 19.2% increase. Large chip potato inventories in Ontario and Quebec should be adequate to carry the Canadian chip industry through the storage season. Ontario had 3.02 million cwt of potatoes left in storage on April 1. This year’s stocks exceeded the 2021 inventory by 709,000 cwt, or 28.5%. Intended use data show a 500,000 cwt increase in chip potato stocks, to 2.40 million cwt, a 26.3% increase. Quebec had 5.93 million cwt of potatoes in storage on April 1. This year’s stocks exceeded the year-earlier holdings by 1.57 million cwt, or 36.1%. Processing stocks (chip and frozen) rose by 813,000 cwt, or 47.0%.

US packers shipped 1.534 million cwt of table potatoes during the week ending April 9, 2022. That is down from 1.724 million cwt a year earlier. Michigan packers shipped 47,900 cwt of potatoes during the week ending April 9, 2022. That is down from 51,900 cwt during the same week in 2021. Last week’s Michigan shipments were 98.1% Russets, 1.0% Red potatoes, and 0.9% Round White potatoes.

USDA reports that Michigan packers are selling size A Russets in 10# bags for mostly $11.00-$12.00 per 50# bale, unchanged from a week ago. Wisconsin packers are selling size A Russet potatoes in 10# bags for mostly $10.00-$10.50 per 50# bale, unchanged from last week. They are selling Russet 40-70 count cartons for mostly $17.50-$19.00 per 50# box, up from $17.00-$18.00 per 50# box a week ago. The weighted average shipping point price for Idaho Russet Norkotahs is $21.15 per cwt, unchanged from last week.