Market Report April 26, 2023

News Category: Market Reports
potato truck

Snow, rain, and cold temperatures continue to delay planting in Michigan. The state’s early potatoes have been set back by a week or more. Rain in Southwest Michigan could delay planting for the next 4-5 days. Temperatures there could fall below Wednesday night. Parts of the state also could experience frost again on Sunday and Monday nights. Growers in South Central Michigan are expected to begin planting later this week or early next week.

Chip potato crops in North Carolina and southern Ohio have been set back by cold and wet growing conditions. Some growers in South Carolina have lost up to 75% of their chip potato crop due to heavy rainfall.

Chip potato demand has been strong. Storage supplies are cleaning up quicker than expected. Supplies will be extremely tight as the industry transitions from storage potatoes to fresh potatoes. North Florida has a good potato crop, but the region does not have enough acreage to make up for the industry’s supply shortage. The situation is not likely to improve until at least July.

The U.S. exported 5.82 million cwt of potatoes and potato products (raw product equivalent) during February. That fell 198,000 cwt short of year-earlier sales, a 3.3% decline. A 16.2% reduction in frozen potato exports offset increases in the other categories. The largest percentage gain came in dehydrated product exports, which climbed 24.4%. Potato chip and fresh potato exports increased by 9.6% and 5.9%, respectively. The U.S. exported 8.17 million pounds of potato chips (mostly product fabricated from potato flakes) during February. That is 713,000 pounds more than year-earlier sales. Exports to Mexico climbed by 57.2%. Sales to Canada fell 14.4% short of February 2022 sales. The Philippines increased its purchases by 74.0%, while South Korea more than doubled its imports. The United Arab Emirates and Saudi Arabia increased purchases by 16.7% and 11.1%, respectively.

U.S. packers shipped 1.592 million cwt of table potatoes during the week ending April 22. That is down from 1.623 million cwt shipped a year earlier. Michigan’s reported shipments totaled 62,100 cwt of potatoes during the week ending April 22. That is up from 51,400 cwt during the same week in 2022. Last week’s Michigan shipments were 94.9% russets, 4.7% yellow potatoes, and 0.4% round white potatoes.

USDA reports that Michigan packers are selling size A russets in 10-pound bags for mostly $16-$17 per 50-pound bale, unchanged from a week ago. They are selling size A russets in 5-pound bags for mostly $17-$18 per 50-pound bale, also unchanged.

Wisconsin packers are selling size A russet potatoes in 10-pound bags for mostly $15-$16 per 50-pound bale, unchanged from a week ago. They are selling Russet 40-70 count cartons for mostly $29-$33 per 50-pound box, up from $29-$32 per 50-pound box last week. The weighted average shipping point price for Idaho Russet Norkotahs is $39.68 per cwt. That is up from $39.02 per cwt a week ago.

Red River Valley packers are selling size A yellow potatoes in 2,000-pound tote bags for mostly $28 per cwt, unchanged from a week ago. They are selling yellow creamers in 50-pound sacks for mostly $30, also unchanged. Florida packers are selling 50-pound cartons of size A yellow new-crop potatoes for $25.95-$27.25 per box, down from $25.95-$30.25 per box last week. They are selling yellow creamers in 50-pound cartons for $45.25-$50.95 per box, unchanged from a week ago.

Florida packers are selling 50-pound cartons of size A round white potatoes for mostly $27.95-$29.95 per box, down from mostly $29.95 per box last week. They are selling round white creamers in 50-pound cartons for $45.95-$50.95 per box, unchanged from a week ago.

– Report by North American Potato Market News