BusinessApril Holdings Report: Potato Stocks for the Processing Sector Well Above Five-Year...

April Holdings Report: Potato Stocks for the Processing Sector Well Above Five-Year Average

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As of April 1, 2024, Canada has 52,393,000 cwt of potatoes in storage, a 12.5% increase from April 2023 and significantly above the five-year average. Most of these stocks are in the west, primarily within the processing sector. In contrast, potato levels in Quebec and the Maritimes are considerably lower than last April and even below the five-year average for Quebec and New Brunswick. This decline is largely due to a very rainy growing season and higher cull rates this marketing year, according to the United Potato Growers of Canada April Holdings Report.

Concerns in the fresh sector have diminished since the post-harvest period, with supply and demand well balanced and no significant worries about carryover into the new crop. In fact, inventory of red potatoes is becoming quite tight, similar to the situation south of the border.

Potato stocks for the processing sector are 24% higher than in April of last year and well above the five-year average. This increase is due to record production this year, with expanded acreage following two years of shortages in North America. Improved yields also contributed to the larger initial supply. Processing potatoes are being moved from west to east to address surpluses and shortages in the eastern provinces, but indications suggest that western supplies will remain abundant.

In March, the seed sector experienced a significant increase in movement, leading to a 5.6% decrease in overall stocks compared to April of last year. While overall stocks remain higher than the five-year average, elevated levels are primarily observed in PEI and Ontario, which counterbalance reduced inventories in all other Canadian regions.

You can read the entire report here.

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