Chip potato markets are extremely quiet. Chip plants are running almost exclusively on contract supplies. Chip companies seem convinced that they have plenty of storage potatoes to keep plants running longer than normal. Part of the Florida crop has been set back frost damage last week. That could lead to lower yields for Florida’s 2022 potato crop.
Canada reports that it had 69.86 million cwt of potatoes in storage on February 1. That is 14.51 million cwt more than the year-earlier inventory, a 26.2% increase. The increase is concentrated in the Maritime Provinces, where inventories are up 60.5% from 2021 holdings. Ontario had 4.67 million cwt of potatoes left in storage on February 1. This year’s stocks exceeded the 2021 inventory by 883,000 cwt, or 23.3%. Intended use data show a 658,000 cwt increase in chip potato stocks, to 3.37 million cwt, a 24.3% increase. Quebec had 8.38 million cwt of potatoes in storage on February 1. This year’s stocks exceeded the year-earlier holdings by 1.85 million cwt, or 28.3%. Processing stocks (chip and frozen) rose by 766,000 cwt, or 30.4%. Large chip potato inventories in Ontario and Quebec should be adequate to carry the Canadian chip industry through the storage season.
US packers shipped 1.570 million cwt of table potatoes during the week ending February 5, 2022. That is down from 1.742 million cwt a year earlier. Michigan packers shipped 67,700 cwt of potatoes during the week ending February 5, 2022. That is up from 50,700 cwt during the same week in 2021. Last week’s Michigan shipments were 82.3% Russets, 13.0% Yellow potatoes, 4.0% Round White potatoes, and 0.7% Red potatoes.
USDA reports that Michigan packers are selling size A Russets in 10# bags for mostly $11.00-$12.00 per 50# bale, unchanged from a week ago. Wisconsin packers are selling size A Russet potatoes in 10# bags for mostly $9.50-$10.00 per 50# bale, up from $9.00-$10.00 per 50# bale last week. They are selling Russet 40-70 count cartons for mostly $16.00-$17.50 per 50# box, unchanged from a week ago. The weighted average shipping point price for Idaho Russet Norkotahs is $22.71 per cwt, up from $22.71 per cwt last week.