The start of the vaccination programs against the coronavirus also creates some optimism in the potato market.
The quotations for chips potatoes on the potato futures market are rising in this week after Christmas. For the April 2021 contract, a price of 6.50 euros per 100 kilos is now being paid. That is 0.20 euros more than last week. The June contract is priced at 8.80 euros, an increase of 0.50 euros per 100 kilos compared to a week ago.
Throughout the year, buyers on the forward potato market are already relatively interested in the delivery contracts for French fries potatoes from the 2021 harvest. The quotation for the April 2022 contract has risen this week to 14.70 euros per 100 kilos. That is the highest rating since last summer.
Friendly mood
Stockbroker De Vries & Westermann talks about a friendly mood in the potato market and makes a connection between the optimism and the start-up of the vaccination programs in Europe. Incidentally, the effective market is hardly moving. Many chip producers are shut down during the holidays and there are also few current quotations.
• Read also: Potato futures market is carefully moving upwards
A bright spot on the potato market is the increase in the export of French fries from the European Union. Figures from World Potato Markets show that demand for processed chips is recovering from the Middle East and Australia, among others. Furthermore, the current price level for export potatoes still has a positive effect on the sales of table potatoes to Africa. Exports increased by 80 percent compared to last year.
