Market Report January 19th, 2022

News Category: Market Reports
Potato truck

Chip potato markets remain quiet. Plants are running almost exclusively on contract potatoes. Chip companies indicate that they have plenty of potatoes to get through the storage season without the need for increased contract volumes in Florida and Texas. Chipstock movement from the storage states is running behind last year’s pace. Total US chip potato shipments fell 6.3% short of the 2020 movement during the 24-week period through January 15. Michigan shipments are down 17.2%. Wisconsin and North Dakota are down 22.7% and 26.5%, respectively. Shipments from Maine are down 2.4% from last year despite the 2021 bumper crop. New York’s shipments are up by 3.9%.

The US exported 8.00 million lbs of potato chips (mostly product fabricated from potato flakes) during November. That is down 1.50 million lbs from year-earlier exports, a 15.8% decline. Sales to Mexico, the largest US potato chip importer, fell 27.0% short of November 2020 exports. Canada and the Philippines increased their imports by 18.6% and 13.4%, respectively. Exports to the United Arab Emirates fell 8.3%, while sales to Japan dropped 5.9% below the 2020 pace. South Korea more than tripled its imports of US potato chips during November.  

US packers shipped 1.696 million cwt of table potatoes during the week ending January 15, 2022. That is down from 1.838 million cwt a year earlier. Michigan packers shipped 77,500 cwt of potatoes during the week ending January 15, 2022. That is up from 73,600 cwt during the same week in 2021. Last week’s Michigan shipments were 87.2% Russets, 8.4% Yellow potatoes, and 4.4% Round White potatoes.

USDA reports that Michigan packers are selling size A Russets in 10# bags for $11.00-$11.50 per 50# bale, unchanged from a week ago. Wisconsin packers are selling size A Russet potatoes in 10# bags for mostly $9.00-$9.75 per 50# bale, up from $8.50-$9.50 per 50# bale last week. They are selling Russet 40-70 count cartons for mostly $16.00-$17.00 per 50# box, unchanged from a week ago. The weighted average shipping point price for Idaho Russet Norkotahs is $22.63 per cwt, unchanged from last week.

Wisconsin packers are selling 10/5# bags of size A Yellow potatoes for mostly $18.00-$19.50 per 50# bale, unchanged from a week ago. They are selling 50# cartons of size A Yellow potatoes for mostly $18.00-$19.00 per 50# box, also unchanged. Red River Valley packers are selling size A Yellow potatoes in 2000# tote bags for $20.00-$26.00 per cwt, down from $22.00-$26.00 per cwt a week ago. Long Island packers are selling size A Yellow potatoes in 2000# tote bags for mostly $17.00 per cwt, unchanged from last week.