CREDIT // SOURCE - Andrea Swindall
A French fry shortage could be on the horizon. Bloomberg explains that cold, wet weather has damaged crops in key producers in both the U.S and in Canada. Potato processors are currently rushing to supplies and ship them all over the country.
Cold conditions and frost have mainly affected growers in Manitoba, North Dakota, and Minnesota. There has also been an increase in fry-processing capacity in Canada, which has boosted demand. Senior grains and oilseed analyst, Stephen Nicholson, explains, “The combination will lead to tight supplies, and it’s likely that potato prices could climb this year across North America. International costs may also rise as the U.S. won’t be able to export as much.”
Bloomberg also adds, “The U.S. Department of Agriculture forecasts domestic output will drop 6.1% this year to the lowest since 2010. In Idaho, the top producer, output is forecast to fall 5.5%
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