
Idaho Potato Prices Drop to Near Cost of Production
Idaho potato prices have dipped to near or below the cost of production. Prices paid to growers peaked in August, and have continued to decrease through November. Now, the market appears to have bottomed out.
In August, the prices paid to potato growers was at its peak at $15.70 per hundredweight. Many growers responded by killing vines early in order to cash-in. This resulted in a flooded market. According to USDA, growers were paid an average of only $8 per hundredweight in October. Prices have not improved since then.
On the retail side, the prices consumers paid for potato cartons declined during that time, but consumer bag prices actually rose during the same period.
These changes have left many anticipating a price increase in the near future.
One Idaho grower told AndNowUKnow, "As supplies decrease, we expect prices to increase slightly post-holiday and sharply in summer. However, if we have quality issues like last year it will compound matters."
Stay tuned to AndNowUKnow as more information becomes available.