China’s potato export prices decreasing

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Domestic market is in a transitional stage from stocked potatoes to new-harvest potatoes

THE overseas market demand for China's potatoes is not very positive currently, with exports gradually shriking, it has been revealed.

In April, the potato market faced many challenges. Affected by the aggravation of the COVID-19 pandemic, many production areas were closed successively, and the transportation of products was also blocked. Trading activity of stocked potatoes declined, and the market began to turn from positive to weak. Later, the preventative measures against the pandemic eased, and the supply of new-harvested potatoes was concentrated, which seriously affected the trading market, resulting in the price of new-harvested potatoes falling.

At present, the domestic market is in a transitional stage from stocked potatoes to new-harvested potatoes. With a shrinking demand in the domestic market, there is a sufficient supply.

However, since 2022, factors such as rising sea freight rates and the appreciation of the RMB, have contributed to the China's potato exports being relatively limited. Some Southeast Asian countries are harvesting local new potatoes and the overseas market demand is not positive. Domestic processing enterprises require a moderate and average amount of potatoes. Coupled with the impact of the pandemic and other factors, the export volume of potatoes is showing a shrinking trend.

In April 2022, China exported about 8.39 thousand tons of fresh or refrigerated potatoes (except for seeds, the same below), a decrease of about 51.33% over the same period last year. The total export value was about US$4.89 million, a decrease of about 57.62% over the same period last year.

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In terms of destination countries/regions, the top 10 countries or regions importing fresh or refrigerated potatoes from China in April 2022 are Vietnam, Malaysia, Myanmar, Singapore, Hong Kong, Macau, Brunei, Timor-Leste, Thailand, and South Korea.

The export unit price of fresh or refrigerated potatoes in China in April 2022 was 583/ton, compared with the export unit price of US$546.46/ton in March, a month-on-month increase of about 6.69%; Compared with the export unit price of US$669.46/ ton in April 2021, a year-on-year decrease of about 12.91%.

Source: Fresh Plaza

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