Russet promotions slow, prices up with shorter crop
Advertised prices for retail promotions of U.S. conventional russet potatoes are way up this year, and promotions are down, USDA statistics show.
The shorter crop has reduced the number and retail promotions and increased the average promoted price, USDA numbers suggest.
The USDA’s retail price report showed the average advertised price for a 10-pound bag of russet potatoes on Feb. 3 was $4.72, up 4% from $4.53 the same time a year ago.
Only 313 U.S. retail stores tracked by the USDA advertised 10-pound bags of russets that week, down 70% from 1,031 the same week last year.
From Aug. 19, 2022, to Feb. 3 this year, the average number of stores that promoted 10-pound bags of russet was 688, the USDA said, down 40% from an average of 1,158 stores for the same period the previous year.
The average promoted price for 10-pound bags of russets from mid-August to early February was $4.64 per bag, 29% higher than $3.61 per bag in the same period the previous year.
The USDA report said 1,997 retail stores promoted a 5-pound bag of russets on Feb. 3 at an average price of $3.12. That compares with 3,971 stores promoting a 5-pound bag of russets at an average price of $2.70 a year ago, the USDA said.
From mid-August last year through early February, the average number of stores promoting 5-pound bags of russet potatoes was 2,657, down 15% from 3,108 stores for the same period the previous year. The average promoted price from mid-August to early February was $3.17, up 25% from $2.53 for the period a year ago.
Likewise, russets advertised by the pound showed a decrease in advertised promotions and higher average promoted prices, the USDA said. On Feb. 3, 257 stores advertised russet potatoes at an average per-pound price of $1.08. That compares with 909 stores promoting russet at an average per pound price of 99 cents the same week the previous year.
From mid-August to early February, the weekly average number of stores promoting russets priced by the pound was 585, down more than half from an average of 1,136 stores the previous year. The average promoted price of russets advertised on a per pound basis from mid-August 2022 through early February this year was $1.08, up 17% from 92 cents for the same period the previous year.
