Editor’s Note: We’re thrilled to kick off a new monthly Market Update video series featuring Victoria Stamper, General Manager of the United Potato Growers of Canada. Below is a summary of our first conversation. The full conversation is available here.
One of the biggest stories from this year’s harvest is the balance between supply and demand. With a more moderate crop size, especially in regions like Manitoba and P.E.I., pricing should stabilize after the chaotic surpluses of 2023.
“A more balanced crop is exactly what the market needs,” says Victoria Stamper, General Manager of the Potato Growers of Canada. “It’s good for pricing and will help bring more stability after the last few years of unpredictable yields. Yellows are a story to watch,” she adds. “We may be at the point where we need to stabilize that acreage to avoid overproduction.”
With harvest now in storage, the outlook for 2024’s crop is positive… though cautiousness is always smart in agriculture.
“There are some concerns about pressure bruising and some water soak issues in storage, especially with fuller storages compared to last year,” Stamper says.
However, she notes that growers are well-prepared and the risks of rot or hollow heart, which plagued last year’s crop, are less of a concern this time around.
Looking forward, market stability will depend on how the crop performs in storage and how demand picks up over the winter months, particularly with American Thanksgiving and the holiday season drawing near.
“The holidays are a big draw for potatoes,” Stamper says. “The market will likely see more consistent demand in the coming months.”
While 2024 may not have seen the great yields of 2023, Canadian potato production continues to increase, rising from an average of about 105 million hundredweight (cwt) between 2017 and 2019 to around 125 cwt in 2022 and 2023. Preliminary estimates suggest that Canada’s potato production for the year is approximately 125 million cwt, representing one of the largest crops in recent history.
As growers move into the storage phase and plan for the upcoming season, Stamper says the key will be to maintain balance in both production and pricing.
“The industry has been through a lot of ups and downs in the past few years,” she says. “This year’s crop is a step in the right direction for the potato market. It’s a good news story overall, but we’re still monitoring how storage and demand evolve.”
We also talked to Stamper about the 2024 Canadian potato harvest, with a region-by-region market update. Check out that part of the conversation here.
United Potato Growers of Canada is a non-profit association with the mission is to provide potato industry information, intelligence, and analysis, that allows producers to make timely informed production and marketing decisions.
