Market Report June 21, 2023

News Category: Market Reports
potato truck

The North Carolina chip potato harvest has been slowed by rain this week. The weather there has been warm and wet. Most growing regions in the Eastern and Midwest states and provinces have been hot and dry. The Michigan potato crop is in good condition, though it could use some rain. Potatoes in southwest Michigan are in full bloom, or post-bloom. Potatoes have reached row closure in central Michigan. The chip potato business is quiet. Manufacturers appear to have plenty of potatoes to meet their needs.

USDA reports that growers in the storage states held 54.5 million cwt of potatoes on June 1. That is 1.9 million cwt less than those same states had in storage a year ago, a 3.4% reduction. Six of the reporting states had the same or fewer potatoes in storage on June 1 than they held a year ago. At 66.8 million cwt, U.S. April-May potato disappearance fell 4.1 million cwt short of the 2022 pace, a 5.8% decline.

USDA puts Michigan’s June 1 potato stocks at 700,000 cwt. That matches the state’s year-earlier holdings. At 3.0 million cwt, April-May disappearance fell 300,000 cwt, or 9.1%, short of 2022 movement. Michigan’s chip potato usage dropped by 317,000 cwt, or 22.1%, relative to last year. On the other hand, table potato movement during April and May exceeded year-earlier shipments by 292,000 cwt, or 84.0%.

Canada had 18.17 million cwt of potatoes from the 2022 crop in storage on June 1. That is 625,000 cwt less than year-earlier holdings, a 3.3% decline. June holdings fell short of 2022 inventories in every province except Alberta. The largest percentage reduction came in stocks intended for table potato sales, which were down 17.2% from last year. Canada’s May potato disappearance exceeded the 2022 pace by 1.6%. It is Canada’s strongest May potato movement on record.

U.S. packers shipped 1.609 million cwt of tablestock potatoes during the week ending June 17. That is up from 1.498 million cwt shipped a year earlier. Michigan’s reported shipments totaled 53,900 cwt during the week ending June 17, 2023. That is up from 29,800 cwt during the same week in 2022. Last week’s Michigan shipments were 74.1% russets, 16.7% yellow potatoes, and 9.2% round white potatoes.

Wisconsin packers are selling size A russet potatoes in 10-pound bags for mostly $15-$16 per 50-pound bale, unchanged from a week ago. They are selling russet 40-70 count cartons for mostly $30-$35 per 50-pound box, unchanged from last week. The weighted average shipping point price for Idaho Russet Norkotahs is $39.15 per cwt. That is down from $$40 per cwt a week ago.

Pricing for yellow and round white potatoes in Eastern growing areas is not currently available due to a lack of supplies.

– Report by North American Potato Market News