Hold on to your seats my America, a new report from Bloomberg says the US may soon be hit with a shortage in french fries.
Due to the cold and wet weather this year across North America, harvest rates have dramatically dropped with Canada estimating that up to 18 percent of Manitoba’s planted area will be left unharvested, with 6.5 percent of Alberta’s potatoes with frost damaged.
The US Department of Agriculture predicts the output in potatoes will drop a whopping 6.1 percent this year, the lowest since 2010. Idaho — the US’ top producer — will be hit particularly hard, with forecasts predicting a 5.5 percent drop.
Rabobank’s senior grains and oilseeds analyst Stephen Nicholson proposes that there will be a spike in french fry prices in response to the low harvest numbers. “French fry demand has just been outstanding lately, and so supplies can’t meet the demand,” said Travis Blacker, the industry-relations director at the Idaho Potato Commission.
“It’s a manageable situation,” said Kevin MacIsaac of the United Potato Growers of Canada. “Potatoes are going to have to move from one channel to another that they sometimes don’t move in a normal year.” Looks like there’s light at the end of the tunnel.
Sort your potato stash America, asap!