Global trade in frozen potatoes, especially fries, has increased over five years from $7.7 billion in 2019 to $13.2 billion in 2024. The popularity of the product and rising prices are stimulating potato production and processing worldwide. This was reported by 'Gordian' referencing Rabobank.
According to analysts, the main driver of growth in global exports has been frozen French fries. The price increase is related to both rising demand and the rising costs of growing and processing potatoes.
Leading countries in global potato exports
The largest importers of potato products remain the USA, the UK, Mexico, Saudi Arabia, Germany, and Spain. Conversely, China and India have become exporters due to the expansion of their own processing capacities.
'We expect that in the coming years, developing countries will continue to increase their share in global potato production and processing due to rising demand and competitiveness,' analysts say.
Ukrainian farmers and potatoes
In North America and Europe, average yields are already high, but further growth is complicated by climatic extremes and strict regulations regarding plant protection. In particular, the Netherlands is facing difficulties in expanding seed potato exports, which account for about half of global supplies.
It should be noted that analyst of the Ukrainian Agrarian Business Club, Maxim Hopka, predicts a sharp rise in potato prices in Ukraine this winter. He cites drought, poor harvest, and tax increases as reasons. According to his estimate, prices for potatoes in supermarkets could rise to 55 UAH per kilogram, while the current average wholesale price ranges from 19-22 UAH, and retail is 30-35 UAH.
Global trade in frozen potatoes, especially fries, continues to grow, reaching large volumes in the billions of dollars. This contributes to the development of potato production and processing worldwide, while in Ukraine, prices for this product may sharply rise due to a number of internal reasons that create unfavorable conditions for agricultural activity.