Market Report August 17th, 2022

News Category: Market Reports
Potato Truck

The chip potato market is quiet. Chip potato demand has been steady for the past several weeks. Buyers can get all the potatoes they need, but there is no indication that potatoes are backing up. Reports indicate that potato crops in most of the storage states are in good condition.  

NAPMN expects Canadian growers to produce 121.4 million cwt of potatoes in 2022. That falls 4.0 million cwt short of the current estimate of 2021 production, a 3.2% decline. Based on current conditions, we are projecting this year’s average yield at 321.1 cwt per acre. The forecast yield would be the second largest on record. Production in Ontario and Quebec is forecast to drop by 2.3 million cwt. At least part of the reduction in both provinces will be for chip potatoes. Chip manufacturers reduced early-season contract volumes to allow the industry to clean up the extra storage potatoes from the 2021 crop. Supplies in Ontario and Quebec might be adequate, though there may not be enough chip potatoes to carry the industry through June. Chip potato production in the Maritime Provinces should be sufficient. Yields are expected to improve for Alberta’s early chip potatoes, relative to last year.

US packers shipped 1.222 million cwt of table potatoes during the week ending August 17, 2022. That is down from 1.519 million cwt a year earlier. USDA did not report any Michigan potato shipments during the week ending August 17, 2022. There were no reported table potato shipments a year ago.  

The weighted average shipping point price for new-crop Idaho Russet Norkotahs is $56.26 per cwt. That is up from $54.88 per cwt a week ago.