Potato Flakes Price Trend and Forecast

Potato Flakes Regional Price Overview

Get the latest insights on price movement and trend analysis of Potato Flakes in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Potato Flakes Price Trend for the Q2 of 2024

Potato flake prices are directly dependent and usually follow a similar trajectory as their raw material, potato. During the first six months of the year 2024, potato flake prices were found to follow an elevated trajectory for the most part. Last year, in November '23 '23, unexpected rains severely damaged West Bengal's potato crop, forcing replanting in December. However, further rains in April '24 '24 damaged mature crops, driving prices uphill. The average retail price surged again in April '24 '24.
 

Potato Flakes Price Chart

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The reduced yield from key states like Uttar Pradesh and West Bengal, where production dropped from 60.14 million tonnes in 2023 to an estimated 58.99 million tonnes in 2024, has created a supply-demand imbalance. This shortage, exacerbated by farmers holding back stock in anticipation of higher prices, is keeping the potato flake prices elevated. Prices are expected to remain high until the next crop harvest in October '24 '24. Overall, a rising price graph was observed for potato flakes throughout Q2 of 2024.

Analyst Insight

According to Procurement Resource, the coming quarter is expected to witness similar upward fluctuation in Potato Flakes prices since the feedstock costs are sustaining high momentum.
 

Potato Flakes Price Trend for the Q1 of 2024

In Q1 2024, potato flake prices followed an upward trend driven by increased raw potato costs due to production shortages and labor unavailability, particularly in key potato-producing regions. The spike in fresh potato prices in markets like India and France, alongside strong export demand and reduced supply, has contributed to higher input costs for potato flake manufacturers. However, as new crop arrivals have increased supply towards the end of the quarter, potato flake prices have begun to stabilize, though they remain elevated compared to previous periods due to the lag in processing and production adjustments.

Analyst Insight

According to Procurement Resource, moving forward, the Potato Flakes prices are likely to remain stable and show improvements. With the incoming fresh harvests of raw potatoes, the market is expected to show improvements.
 

Potato Flakes Price Trend for the Second Half of 2023

During the discussed span, the potato flakes observed fluctuating price trends. The Asian market saw some stability as the potato prices in India declined gradually after standing firm at the beginning of July. Bangladesh saw some supply issues which occasionally pushed up the Potato Flakes prices.

In the European region, however, a serious supply crisis was seen. The rot disease trampled the production volume and quality, seriously raising the price concerns for the staple vegetable flakes. American potato flakes market, on the other hand, was much more relaxed and eased as an increased production volume in the region pushed the prices downward here. Overall, a varying price trend was witnessed.

Analyst Insight

According to Procurement Resource, Potato Flakes prices are expected to vary in the coming months as well. The upstream dynamics will play a critical role in driving this price trend.
 

Potato Flakes Price Trend for the First Half of 2023

Potato flakes are made by cooking, mashing, and dehydrating potatoes, and thus, the market trend of potatoes guides the price trend of potato flakes. In the US and European markets, the prices of potato flakes surged considerably to extreme levels. Certain manufacturers were even forced to halt their production facilities amid the soaring costs of raw materials. There was a huge incline in the energy production costs also due to the rising rates of inflation in the UK, the US, and European countries.

The European countries, on the other hand, also struggled with the fall in production volumes and delayed harvest of potato crops, which worked in favor of the rising costs of potato flakes. The region was, therefore, forced to raise its import volumes from Israel and France. The trajectory in India was, however, different as the price trend of potato flakes declined on account of falling potato costs that depreciated the overall market sentiments of potato flakes.

Analyst Insight

According to Procurement Resource, the price of Potato Flakes is expected to fluctuate in the upcoming months as the prices of potatoes are affected by the falling production volumes and poor supply.
 

Potato flakes Price Trend for the Second Half of 2022

The price trend of potato flakes in the last two quarters of 2022 was determined by the production and supply of potatoes worldwide. In European countries, the area of harvest increased; however, the production and harvest rates declined significantly.

The most significant cause of this poor production was the dry and hot summer conditions, which resulted in lower yields and, in turn, hampered the growth of the potato flakes market. The adverse effects of climate change were not only restricted to the European countries, but its effects were also seen in the availability of potatoes in the Asian markets as well.

In addition to this, the cost of energy production and irrigation increased by several folds as the global economy struggled to find a base. The challenges were further accelerated when storage and quality issues rose in some of the European nations, which ultimately proved to be fatal to the potato flakes price trend.

Analyst Insight

According to procurement resources, the prices of Potato Flakes are estimated to struggle due to the fall in the production of potatoes due to extreme weather conditions.
 

Potato Flakes Price Trend for the First Half of 2022

The cost of supermarket staples is rising worldwide as the cost-of-living crunch hits consumers. The crop prices are volatile and double-digit inflation due to the Russia-Ukraine war has rattled the global supply chains.

Declining acreage, high fertilizer prices, inflated freight charges, and labour shortages amid adverse climatic conditions have caused the production/processing costs for potato flakes to rise. The input costs for production have gone up by 18-22% in the present year. According to the US Bureau of Labour and Statistics, this year witnessed the largest food inflation levels since 1981.

The Mintec benchmark prices of processing potatoes in Belgium shot up by 264% Y-O-Y basis. In the USA, the average price of potatoes averaged 0.89/lb in June 2022, indicating a 15.86 % rise Y-O-Y basis. The price for a bag of 4kg spuds has surged to 12 USD as compared to the previous 5 USD/4kg price. Hence, the inflated prices of potatoes directly influenced the price trend for potato flakes causing them to remain strengthened globally.

Procurement Resource provides latest prices of Potato Flakes. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.