Frozen potato global trade volumes remain above pre-COVID levels for the third month in a row in August 2021. At 717,000 tons, August 2021 trade volumes were up 9.0% compared to the same month in 2019 (YOY – Year-On-Year).
“The recovery that has been visible since June drives a year-to-date [i.e. – YTD) increase in trade volumes of 1.8%, but prices have remained relatively stable compared to 2020. With an average price of EUR0.82 per kg, trade prices are 4.7% lower than in 2019,” A-INSIGHTS experts recently added.
According to their recent report, the largest exporter of frozen potatoes – Belgium – manages to increase export volumes by 17,700 tons (6.9%), driven in part by increased imports from Brazil (+4,700 tons) and Chile (+3,900 tons).
“With trade prices of EUR0.50 and EUR0.59 per kg respectively, exports to these South American countries are priced well below the average Belgian export price of EUR0.66 per kg and drive part of the EUR0.06 decline of the average Belgian export price in August 2021,” the company’s representatives mentioned.
Even though Dutch exports increased by 1.8%, the effect is less pronounced than the Belgian export increase. Canada continues to benefit from increased imports by the US, managing to increase exports to the US by 22.3%.
An interesting development is visible in the sharp increase in exports from India.
“The country is exporting additional volumes to Thailand (+1,700 tons) and the Philippines (+1,700 tons). This increased export from India goes at the cost of exports from more traditional export countries such as the Netherlands, the US, and Belgium,” the experts declared.
US’s Frozen Potato High Import Level Continues in August 2021
US imports continue to lie well above pre-COVID levels, with August imports up 24,900 tons compared to August 2019 (+35.5%). In addition to the volume increase, US imports are the only major import stream to see prices increase (+EUR0.05/kg).
“Market recovery is visible in almost all major import markets, with Southern European countries France (-0.6%) and Spain (-2.2%) as major exceptions. Increased imports by Brazil are largely supplied by low-priced product from Belgium (+4,700 tons at EUR0.50/kg), but the main exporter Argentina also manages to increase its export volume to Brazil,” A-INSIGHTS report shows.
