The chip potato market is quiet. Plants are running almost exclusively on contract supplies. Quality seems to be holding up well for the 2022 crop.
Canadian storages held 67.2 million cwt of potatoes on February 1. That is 1.3 million cwt less than they held a year earlier, a 1.8% decline. Current holdings fell below 2022 levels in all provinces except Manitoba and Alberta. However, total February 1 inventories exceeded the five-year average by 10.8%. Intended use data indicate that table potato stocks dropped by 2.7 million cwt, or 16.5%, relative to year-earlier levels. Potatoes intended for processing increased by 1.2 million cwt, or 2.7%. Seed potato inventories rose by 3.1%. Chip potato inventories are down from last year’s record in both Ontario and Quebec. Supplies should be adequate to carry the industry through the storage season. February 1 chip potato stocks are the second largest on record.
U.S. packers shipped 1.608 million cwt of table potatoes during the week ending February 11. That is down from 1.627 million cwt shipped a year earlier. Michigan’s reported shipments totaled 73,700 cwt of potatoes during the week ending February 11. That is down from 68,300 cwt during the same week in 2022. Last week’s Michigan shipments were 85.6% russets, 10.4% yellow potatoes, and 4.0% round white potatoes.
USDA reports that Michigan packers are selling size A russets in 10-pound bags for $16-$17 per 50-pound bale, unchanged from last week. Wisconsin packers are selling size A russet potatoes in 10-pound bags for mostly $14-$15 per 50-pound bale, unchanged from a week ago. They are selling russet 40-70 count cartons for mostly $26-$32 per 50-pound box, also unchanged. The weighted average shipping point price for Idaho Russet Norkotahs is $35.69 per cwt. That is down from $35.77 per cwt a week ago.
Red River Valley packers are selling size A yellow potatoes in 2,000-pound tote bags for mostly $27-$28 per cwt, up from $25-$26 per cwt a week ago. They are selling yellow creamers in 50-pound sacks for mostly $30, down from $30-$32 last week. Florida packers are selling 50-pound cartons of size A yellow new-crop potatoes for $25.95-$30.25 per box.
– Report by North American Potato Market News