Consumer and market data analytics firm A-INSIGHTS released its latest monthly frozen potato industry trends bulletin last week, titled “May outlook“.
Industry analysts at the company say global trade volume fell 3.3% year-on-year from 2019, with prices down 3.5% year-on-year. Driven in large part by the continued increase in imports from the United States, imports from the Americas through May increased by 203,000 tonnes (+ 25.0%) compared to the same period in 2019. European countries continue to fight against social restrictions, leading to lower imports.
Prices remain under pressure as volume recovery stops in May
With global trade volume down 3.3% from the same pre-COVID 2019 period, the volume recovery came to a halt in May. A 13.0% drop in Dutch exports is only partially offset by an increase in exports from Canada, while Belgian export volumes decreased with a moderate 1.6%. Prices remain below 2019 and 2020 levels, due to pressure on export prices for all major exporters except Canada.
Image 1: Total export YTD until May (in th. Tons & price / kg)
Image 2: May export volume and price per kg by exporting country, compared to 2019 (top 5)
US imports remain above pre-COVID levels in May, no significant recovery in Europe
Helped by the strong drive-thru penetration and continued reopening of full-service restaurants, year-to-date U.S. imports are up 15.9% from pre-COVID levels in 2019. Combined with an increase of 0.07 € in price / kg, the US import value increases significantly. At the same time, European countries continue to fight social restrictions, leading to import declines of between 3.5% (Italy) and 38.3% (Netherlands) compared to 2019.
Image 3: May import volume and price per kg by importing country, compared to 2019 (top 10)
The recovery in world trade was driven almost entirely by imports from the Americas
Regionally, it is becoming evident that the global recovery in frozen potato trade volumes is almost entirely driven by the Americas. Driven in large part by the continued increase in imports from the United States, imports from the Americas through May increased by 203,000 tonnes (+ 25.0%) compared to the same period in 2019. At the same time , European imports continue to be under severe pressure restrictions and show little recovery compared to 2020.
Image 4: Total YTD export by region until May (in th. Tonnes)
This report and similar reports of potato industry produced by A-OVERVIEW are available monthly. You can subscribe to receive company newsletters free here: https://annual-insight.nl/#newsletter-signup.
If you have any questions regarding this report or any other A-INSIGHTS service and report, please do not hesitate to contact Mathieu Geuskens, Senior Analyst at: [email protected] or +31 (0) 20 261 1977 / +31 (0) 6 13 1140 66.
Related: A-INSIGHTS Releases Latest Frozen Potato Products Report
Cover picture: Frozen Foods Europe