First, PKO BP analysts reported that according to NEPG, the Organization of Potato Growers in Northwest Europe, the area under cultivation of this species in 2024 in Belgium, France, the Netherlands and Germany may be larger by 4-6% y/y.
Uncertainty about the harvest is caused by difficulties at the stage of potato planting in some areas – excessive rainfall in the Benelux countries significantly delayed the process, which affected the supply of early potatoes and the general condition of the crop – we read in the report.
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PKO BP analysts on grain prices and forecasts for the second half of 2024.
What about potato production in 2024 in Poland?
Further reference was made to data from the Central Statistical Office in Poland, which estimated that this year's potato cultivation area in our country will amount to approximately 200,000. ha (198 thousand ha according to Eurostat) and will be less than 5 percent. greater than last year. However, the change in production will largely depend on the level of efficiency.
Reference was also made to periodically published drought reports of the Institute of Fertilization and Soil Science, National Research Institute, where it was explicitly noted that drought did not occur in domestic potato crops (April-June).
And the European Commission itself estimates that this year's crops in the EU may be 1% higher. compared to the average over the last 5 years.
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France: more edible potatoes are grown
What potato prices will be in 2024?
It's production, what about prices?
– The low level of potato stocks and delays in deliveries contributed to an increase in the annual price dynamics. According to NEPG, prices of potatoes for processing on the spot market in June reached a record level. In May, purchase prices in Poland increased by 23%. y/y. High supply at the end of the season on the domestic market allowed the maintenance of generally negative price dynamics for some traditional vegetables, including: onions, which became cheaper by 14% in June. y/y. – say PKO PB analysts.
They also add that increasing the area of potato cultivation may lead to an increase in supply.
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