Weekly Potato Report
January 9, 2008
The Renewable
Energy and Energy Efficiency Program Fact Sheet is available on the MPIC
website (under the News tab at the top of the homepage or click the link to
take you there directly). If you would
like a hard copy please contact the MPIC office.
Calendar
of Events
Winter Potato Conference – February 6-7,
2008 – Ramada Inn
(Formerly Holiday Inn), Grayling
Please return your registration form by
January 7th. You can find the
registration form in the NewsLine or by contacting
our office at 517-669-8377 or email info@mipotato.com
Snaxpo 2008 – March 1- 4 – San Antonio, Texas
USPB Chip Seminar 2008 – March 5 - 8 – Orlando,
Florida
Michigan
dealers continue to sell a few open chip potatoes for $8.50 per cwt. Business
has slowed after the holidays, but demand remains strong for this time of the
year. Contract discussions for the 2008 crop are in the early stages. High
energy costs are driving up prices for chemicals and fertilizer, as well as for
fuel. Chip potato buyers are hoping to hold the line on prices for chipstock,
but that would squeeze growers, given the cost increases that they will
experience for the 2008 production season.
The
cold snap in Florida reduces the chance that any chip potatoes will be ready in
March, but it did little damage to chip potato crops in central Florida. It did
burn back some early Red potatoes in central Florida. Growers report that
Florida is extremely dry. Therefore, they do not expect strong yields this
year. Central Florida chip potato area is down about 15% from last year, due to
cuts in contract volumes.
Canada
reports that it had 69.4 million cwt of potatoes in storage on January 1. That
is down 4.7 million cwt, or 6.4% below year-earlier holdings. Ontario chip
potato stocks totaled 1.925 million cwt. That is the lowest holdings for this
time of year in more than ten years. It is 749,000 cwt fewer chip potatoes than
were in storage a year ago, a 28.0% decline. Quebec is reporting a 1.1 million
cwt increase in processing potato stocks. However, our sources believe that the
extra potatoes are speculative, and are not suited for use as chip potatoes.
They indicate that Quebec's chip potato stocks are similar to year-earlier
holdings.
In
the fresh market, Michigan shippers are selling storage Round White potatoes
for $1.25-$1.30 per 10# bag, up from $1.20-$1.25 a week ago. Long Island
shippers are receiving $5.00-$5.25 per 50# bag for Size A
Round Whites, unchanged for the week. Long Island chefs are selling for mostly
$5.25-$5.50 per 50# bag, also unchanged. Maine growers are selling 2 inch
minimum Round Whites for mostly $0.95-$1.10 per 10 # bag, unchanged from last
week.
Size
A Michigan Russets are selling for $1.25-$1.40 per
10#, up from $1.20-$1.30 last week. Wisconsin shippers are receiving mostly
$6.00-$6.50 per 50# bale for non Size A Russet
potatoes, unchanged for the week. Wisconsin prices for 60-70 are mostly
$9.50-$10.00 per 50# carton, up from $9.00-$9.50 a week ago. The weighted
average shipping point price for Idaho Russet Burbanks
climbed to $15.10 per cwt, from $14.68 a week ago.
This
weekly newsletter has more complete potato market information. For subscription
information call (208) 525-8397, fax (208) 525-8569, write PO Box 3112, Idaho
Falls ID 83403, or e-mail napmn@napmn.com
This
Weekly Potato Report includes current Michigan grower issues, in depth market
news, and other time sensitive information. This report contains market
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