Industry News - wk ending 1 Jul '22
Potato News - North America
US Potato Stocks and Disappearance on June 1
Northwest Region Potato Stocks on June 1, 2022, Totaled 1.75m MT. Potato stocks in Idaho on June 1, 2022, totaled 1.06m metric tons (MT). The disappearance of the Idaho crop to date was 5.48m MT.
Later start on smaller crop of Idaho potatoes this summer
Supplies of Idaho potatoes continue to be extremely tight and will likely gap before fresh crop potatoes come on later this summer.
North American Potato Market News (Vol. 30, No. 36, 23 Jun 2022)
Total US potato stocks are down 4% compared to the same time last year.
CO down 25%.
ID down 16%.
OR down 16%.
WA down 22%.
Dehydrators used almost 14% less potatoes in April and May (lowest in 20 years). “Dehydrators have had to compete with strong demand from the table potato and frozen processing interests.”
Other processing (mostly frozen) increased almost 2% in April and May.
Russet fresh prices increased $2-5/cwt this week.
Potato News - Overseas
Planting Reductions for Seed and Starch Potatoes
Preliminary reports of potato sown area in Northern Europe show small increases in the processing sector, but the overall area may be the lowest ever recorded, taking into account planting reductions for seed and starch production.
NEPG: New potato season about to begin with many uncertainties
The total potato area (first estimation in some cases!) within the NEPG zone (EU-04) has gone up in all 4 countries by 2.0% totalling 507,300 ha, i.e. a plus of 10,100 ha. Compared to the 5-year average, the increase is a 0.9% rise. In late winter early spring, first estimations were that 2022 area would decrease, due to ever higher production costs…
Suspended the work of the largest fertilizer plant in Romania
Romania’s largest fertilizer plant Azomureş, located on the border of the Tirgu Mures region, has again suspended its work due to high energy prices.
A small increase in area, but still below 2020, says NEPG
The 4 major potato growing regions in Europe show a 2% increase in acreage planted over last season, on par with the 5 year average but down 3% from the 2020 crop.
World Potato Markets, Supply Intelligence Limited, Issue 574, 28 Jun 2022
Logistics News
US Will Face High Gas Prices ‘as Long as It Takes,’ Biden Says
The national average gasoline price hit a record this month above $5 a gallon, even after Biden ordered a historic release from U.S. reserves earlier this year. Prices at the pump have been a main driver of inflation, which has been a major political headache for the Biden administration.
OPEC+ Oil Boost Unlikely to Ease Fuel Prices
The OPEC oil cartel and allied producing nations decided June 30 to boost production of crude by an amount that will likely do little to relieve high gasoline prices at the pump and energy-fueled inflation plaguing the global economy.
New Fuel Taxes Kick in July 1 in Number of States
A new fuel tax rate will be in place from July 1 through June 2023. For diesel, there will be a 13% sales tax rate and a 2.25% sales tax rate for qualified agricultural use of diesel, with a 41-cent-per-gallon excise tax. Biodiesel is taxed at the same rate as diesel. Gas will have a 2.25% sales tax rate and per-gallon excise tax rate of 53.9 cents.
Food Industry News
Consumer awareness of clean label drives demand for ingredient solutions
“Consumers are more interested than ever before in products with clean labels because they signify a product that will not only enhance their health but is also better for the planet,” says Alice Lee, technical marketing manager for GNT USA LLC, Tarrytown, N.Y. “Clean and mindful eating became especially important during the pandemic because it was a way for consumers to eat foods that were more natural and nutritious. The popularity of clean labels will continue to grow in the years to come as consumers place a greater priority on products that contain recognizable ingredients that are processed simply using familiar methods that they would use in their own kitchens.”
Consumers expect shared responsibility for the health of the planet
“For the first time ever, more consumers surveyed globally for Innova’s Lifestyle & Attitude Survey, say health of the planet is their top global concern, rather than health of the population,” says Lu Ann Williams, insights director at Innova Market Insights.
How package design can drive sales and market share
Packaging contains, identifies, and safely delivers snack food and bakery products. With thoughtful design, this functionality can be extended to enhance the product, improve the overall consumer experience, and make the sale in the brief time—an average of just seven seconds—that a consumer looks at the package in the store. It’s estimated that 68–80% of purchasing decisions are made at this point