The chip potato market remains quiet. Harvest is ramping up in several states. Buyers can get all the potatoes they need. Michigan’s chip potato harvest is moving ahead. Yields have been above average, and quality has been good. Some potatoes have been put in temporary storage in case of rain or harvest delays. Growers have started killing the storage crop.
Reports indicate that Wisconsin also has a good chip potato crop this year. Potato crops in the eastern U.S. and Canada have been set back by excessive rain.
Exports
The U.S. exported 6.72 million cwt of potatoes and potato products (raw product equivalent) during June. That is 90,000 cwt less than year-earlier exports, a 1.3% downturn. Increased fresh potato (+16.0%), dehydrated product (+23.4%), and potato chip (+4.5%) exports were offset by the 17.5% reduction in frozen product exports.
The value of June potato imports exceeded the value of exports by $39.26 million. That is the largest June potato product trade deficit on record. A year ago, the value of imports exceeded the value of exports by $29.88 million. The continuing shift to a net importer position, combined with weaker export sales, reflects the limited domestic supply situation and strong domestic demand. If U.S. potato production rebounds as expected in 2023 the U.S. could return to a net importer position.
Fresh
U.S. packers shipped 1.312 million cwt of table potatoes during the week ending Aug. 19. That is down from 1.340 million cwt shipped a year earlier. USDA did not report any new-crop shipments from Michigan during the week ending Aug. 19. There were no reported table potato shipments during the same week in 2022.
Wisconsin packers are selling size A russet potatoes in 10-pound bags for mostly $14-$15 per 50-pound bale, down from $15 per 50-pound bale last week. They are selling russet 40-70 count cartons for mostly $20-$23 per 50-pound box, down from $21-$27 per 50-pound box a week ago. The weighted average shipping point price for new-crop Idaho Russet Norkotahs is $33.57 per cwt, down from $34.89 per cwt last week.
Wisconsin packers are selling 10/5-pound bales of size A yellow potatoes for mostly $18-$22 per bale, down from $24.50-$26 per bale a week ago. They are selling 50-pound cartons of size A yellow potatoes for mostly $18-$22 per 50-pound box, down from $24-$26.50 per 50-pound box last week. Big Lake and Central Minnesota packers are selling 10/5-pound bales of size A yellow potatoes for mostly $18-$19 per bale, down from $19-$20 per bale last week. They are selling 50-pound cartons of size A yellow potatoes for $18-$19 per 50-pound box, down from $19-$20 per 50-pound box a week ago. They are selling 2,000-pound tote bags of size A yellow potatoes for mostly $30-$32 per cwt, down from $32.00-$34.00 per cwt last week.
– Report by North American Potato Market News