The chip potato market is quiet. Plants continue to run almost exclusively on contract supplies. Quality seems to be holding up well for the 2023 crop.
Canadian storages held a record 74.03 million cwt of potatoes on February 1. That is 5.69 million cwt more than they held a year earlier, an 8.3% increase. Most of this year’s stocks increase is in the Prairie Provinces. Potatoes intended for processing increased by 6.69 million cwt, or 15.2%. Table potato stocks dropped by 777,000 cwt, or 5.4%. Seed potato inventories fell by 2.3%. The chip potato supply situation is mixed. Ontario had 8.0% more chip potatoes left in storage on February 1 than it held a year earlier. On the other hand, Quebec’s processing (chip and frozen) stocks are down 17.7%. Ontario’s January processing use fell 6.0% short of last year’s pace, while Quebec’s processing disappearance exceeded January 2023 usage by 6.0%.
Frozen processing contract negotiations are finished in the Columbia Basin and in Alberta. They are partially done in Idaho, and just getting underway in the Midwest and Eastern processing regions. Acreage reductions in the Columbia Basin are even greater than earlier estimates. Overall, reductions are expected to be approximately 15%-16%. Some growers could see volume cuts of 75%-100% this year. Growers have already started to turn back extra seed potatoes.
U.S. packers shipped 1.636 million cwt of table potatoes during the week ending Feb. 10. That is up from 1.528 million cwt shipped a year earlier. Michigan packers shipped 80,250 cwt of potatoes during the week ending Feb. 10. That is up from 73,650 cwt shipped during the same week in 2023. Last week’s Michigan shipments were 83.2% russets, 11.1% yellows, 5.4% reds, and 0.3% round white potatoes.
The USDA reports that Michigan packers are selling size A russets in 10-pound bags for $10-$14.75 per 50-pound bale, unchanged from last week. They are selling size A russets in 5-pound bags for $11-$15.75 per 50-pound bale, also unchanged. Wisconsin packers are selling size A russet potatoes in 10-pound bags for mostly $8.50-$9.50 per 50-pound bale, unchanged from last week. They are selling russet 40-70 count cartons for mostly $10-$12 per 50-pound box, also unchanged. The weighted average shipping point price for Idaho Russet Norkotahs is $14.04 per cwt, down from $14.34 per cwt last week.
Wisconsin packers are selling 10/5-pound bales of size A yellow potatoes for mostly $18.00 per bale, up from $17-$17.50 per bale a week ago. They are selling 50-pound cartons of size A yellow potatoes for mostly $18 per 50-pound box, up from $17-$17.50 per 50-pound box last week. Red River Valley packers are selling size A yellow potatoes in 2,000-pound tote bags for mostly $21-$22 per cwt, unchanged from a week ago. They are selling yellow creamers in 50-pound cartons for mostly $30-$32 per 50-pound box, up from $30 per 50-pound box last week.
– Report by North American Potato Market News