Market Monitoring February
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Potato Industry
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Market Monitoring Frozen Potato Products: Insights February 2022

Mathieu Geuskens published on May 23, 2022

In this monthly Frozen Potato Products update, our analysts will share valuable insights about the Frozen Potato Products industry. This month: Global trade volume up 11.2% YTD compared to 2021, prices up 7.4% YTD.

Market monitoring of frozen potato products

Market monitoring helps agri food companies to objectively evaluate their current position within the market and the development of that position. Furthermore, it helps to spot new growth opportunities and whether the market is saturated.

For the A-INSIGHTS MarketMonitor, we analyze the global trade in frozen potato products on a monthly basis. Derived from local customs agencies and statistics offices, the data gives us insight into monthly trade volumes and prices for all major importers and exporters. Combined with our sector expertise, we can provide you with an up-to-date view of the developments in the global frozen potato market.

Prices are at a record level as volume fully recovers from COVID

As demand fully recovers from the negative effects of the pandemic, processing cost inflations and potato shortages in various production regions cause prices in the first two months of the year to be up 7.4% compared to the same period in 2021 (+3.6% compared to 2020). At €0.88/kg, the average global trade price for February was 10% higher than in February 2021 (6.0% compared to February 2020).  

YTD overviewFigure 1. Global frozen potato trade volume in th. tonnes and price in €/kg, YTD until February

Canada supplies increased U.S. demand whilst Netherlands and Belgium trend slightly above pre-COVID exports

The three largest exporters of frozen potato products, Belgium, the Netherlands, and Canada, have all increased their export volumes compared to both February 2021 and 2020. The volume increase is most profound for Canada: increasing 18.4% and 11.7% compared to February 2021 and 2020 respectively. The increase is almost completely driven by increased demand from the U.S. but at +7.5% the price increase is lower than the price increases of Belgium (+14.1%) and the Netherlands (12.8%). India continues to increase its supply of regional trade partners Thailand, the Philippines, and Malaysia, with export volumes up 93% and 315% compared to February 2021 and 2020 respectively. 

Top exporters FebruaryFigure 2. Top 10 exporters, volume in th. tonnes and price in €/kg, February 2022 compared to February 2021

Prices increase for all importers, UK stands out in terms of volume increase

All major importers see prices increase, with above-average price increases in the U.K. (+14.1%) and Japan (+13.3%). Import volumes increase for most major importers, with an especially strong recovery of volume imported by the U.K. (+40.7%). As with U.S. imports (+14.7%), the increase is driven by a combination of recovered demand and a domestic shortage of supply due to a lower than average crop year. With a 8.9 thousand tonne volume increase (+56.0%), imports by Spain are trending 3.9% above pre-COVID levels.

Top importers FebruaryFigure 3. Top 10 importers, volume in th. tonnes and price in €/kg, February 2022 compared to February 2021

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Mathieu Geuskens

Senior Analyst Food & Agri / mathieu.geuskens@a-insights.eu