Brussels – Zero euros per tonne, in some cases just a little more. A typical ‘Nordic’ food is now worthless in Belgium, where it is typically served with mussels. According to the price index published by the trade association Belgapom (a French-language portmanteau of ‘Belgium’ and ‘potato’), the price of potatoes intended for industrial processing has fallen to zero, whilst that of potatoes for consumption, grown for long-term storage, has been falling for months due to low demand and dropped to 10 euros per tonne in March.
The Belga news agency reports this price applies to table potatoes sold on the open market to French fry producers. Between 70 and 80 percent of the harvest had been tied up for months at a higher contract price, but the rest was offered on the open market.
No one has set a price in recent weeks because transactions have not occurred. “Farmers have sold their potatoes, but for 0 euros,” explains Christophe Vermeulen, CEO of Belgapom. “Selling is better than burying or destroying them.”
Many growers face large surpluses due to a lack of demand, resulting in hundreds of thousands of tonnes in stock, even though several months remain in the table potato season.
Leading French fry manufacturers have ample stocks, while global market competition is intensifying. Processing potatoes into animal feed or biofuels is only a limited option.
Although basic raw materials cost nothing, retail prices are not expected to change. The surplus concerns potatoes used by industrial processors for frozen French fries, while higher prices are paid for table potatoes grown for direct consumption.
In recent weeks, producers have resorted to short‑time work schemes and/or weekend shutdowns to curb production.
English version by the Translation Service of Withub
