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Market Monitoring Frozen Potato Products: Insights September 2021

Mathieu Geuskens published on December 16, 2021

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 3.4% YTD compared to 2019, prices down 4.7% YTD.

Market Analysis of Frozen Potato Products

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. 

Sharp increase in trade signals further recovery of demand

Global frozen potato trade volumes were up 14.7% in September 2021 compared to September 2019, signaling a further recovery of demand visible in the past months. At 740 thousand tonnes, the September trade volume is one of the highest trade volumes recorded for frozen potato products, with only the trade volume in October 2019 (741 thousand tonnes) slightly higher. Prices remained 2.4% below 2019 levels, implying that supply recovery has slightly outpaced demand. 

Total Export YTD SeptemberFigure 1. Global frozen potato trade volume in th. tonnes and price in €/kg, YTD until September

Majority of additional volume supplied by the top 3 exporters

The 94.2 thousand tonnes of additional trade volume in September is mainly supplied by the top 3 exporters: Belgium, the Netherlands, and Canada. Together, the countries supply 85% of the increase in trade volume. Whilst trade prices of most European exporters remain below pre-COVID levels, Canada manages to increase the trade price by14% compared to September 2019. Whilst the majority of additional volume from Canada is destined for the U.S., the price increase is aided by increase exports at favorable prices to Japan and Mexico. 

Top 10 exporters YTD SeptemberFigure 2. Top 10 exporters, volume in th. tonnes and price in €/kg, September 2021 compared to September 2019

Global recovery enhanced by a further increase of  U.S. demand 

Trade volumes are up compared to pre-COVID levels in almost all countries, although the U.S. continues to stand out in terms of volume increase (+30%). The Netherlands appears to be a notable outlier with a 2.5 thousand ton decrease in imported volume, as exports increased and production was comparable to 2019 levels. Another notable decline in imported volume is found in China, where imports were roughly a third of pre-COVID levels. It is likely that a larger share of China's consumption is supplied by local production.

Top 10 importers YTD SeptemberFigure 3. Top 10 importers, volume in th. tonnes and price in €/kg, September 2021 compared to September 2019

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Mathieu Geuskens

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