-
Trump, Xi to meet seeking truce in damaging trade war
-
Divided US Fed backs second quarter-point rate cut of 2025
-
'Amazing' feeling for Rees-Zammit on Wales return after NFL adventure
-
'Cruel' police raids help, not hinder, Rio's criminal gangs: expert
-
S. African president eyes better US tariff deal 'soon'
-
Sinner cruises in Paris Masters opener, Zverev keeps title defence alive
-
Winter Olympics - 100 days to go to 'unforgettable Games'
-
Kiwi Plumtree to step down as Sharks head coach
-
US media mogul John Malone to step down as head of business empire
-
'Never been this bad': Jamaica surveys ruins in hurricane's wake
-
Zverev survives scare to kickstart Paris Masters title defence
-
Rabat to host 2026 African World Cup play-offs
-
WHO urges Sudan ceasefire after alleged massacres in El-Fasher
-
Under-fire UK govt deports migrant sex offender with £500
-
AI chip giant Nvidia becomes world's first $5 trillion company
-
Arsenal depth fuels Saka's belief in Premier League title charge
-
Startup Character.AI to ban direct chat for minors after teen suicide
-
132 killed in massive Rio police crackdown on gang: public defender
-
Pedri joins growing Barcelona sickbay
-
Zambia and former Chelsea manager Grant part ways
-
Russia sends teen who performed anti-war songs back to jail
-
Caribbean reels from hurricane as homes, streets destroyed
-
Boeing reports $5.4-bn loss on large hit from 777X aircraft delays
-
Real Madrid's Vinicius says sorry for Clasico substitution huff
-
Dutch vote in snap election seen as test for Europe's far-right
-
Jihadist fuel blockade makes daily life a struggle for Bamako residents
-
De Bruyne goes under the knife for hamstring injury
-
Wolvaardt's 169 fires South Africa to 319-7 in World Cup semis
-
EU seeks 'urgent solutions' with China over chipmaker Nexperia
-
Paris prosecutor promises update in Louvre heist probe
-
Funds for climate adaptation 'lifeline' far off track: UN
-
Record Vietnam rains kill seven and flood 100,000 homes
-
Markets extend record run as trade dominates
-
Sudan govt accuses RSF of attacking mosques in El-Fasher takeover
-
Rain washes out 1st Australia-India T20 match
-
Spain's Santander bank posts record profit
-
FIA taken to court to block Ben Sulayem's uncontested candidacy
-
Chemicals firm BASF urges EU to cut red tape as profit dips
-
Romania says US will cut some troops in Europe
-
Israel hits dozens of targets as Gaza sees deadliest night since truce
-
Mercedes-Benz reassures on Nexperia chips as profit plunges
-
France tries Bulgarians over defacing memorial in Russia-linked case
-
BBC says journalist questioned and blocked from leaving Vietnam
-
UK drugmaker GSK lifts 2025 guidance despite US tariffs
-
Mercedes-Benz profit plunges on China slump and US tariffs
-
South Korea gifts Trump replica of ancient golden crown
-
Record Vietnam rains kill four and flood 100,000 homes
-
Norway's energy giant Equinor falls into loss
-
Asia stocks join Wall Street records as tech bull run quickens
-
New Zealand hammer reckless England despite Archer's brilliance
| RBGPF | -0.11% | 79 | $ | |
| RYCEF | -0.65% | 15.36 | $ | |
| RELX | -3.42% | 44.7 | $ | |
| NGG | -1.47% | 75.537 | $ | |
| SCS | -4.81% | 15.915 | $ | |
| AZN | -0.87% | 81.9 | $ | |
| BTI | -1.47% | 51.7 | $ | |
| RIO | 0.35% | 72.24 | $ | |
| GSK | 4.49% | 45.755 | $ | |
| CMSD | -0.41% | 24.54 | $ | |
| JRI | -1.59% | 13.83 | $ | |
| VOD | -3.03% | 11.875 | $ | |
| BCE | -0.4% | 23.475 | $ | |
| BCC | -3.41% | 69.985 | $ | |
| BP | 1.92% | 35.135 | $ | |
| CMSC | -0.23% | 24.204 | $ |
Record potato harvest is no boon in fries-mad Belgium
Fries powerhouse Belgium is in for a record potato harvest this year -- but that's hardly cause for celebration for farmers who face a slump in prices partially driven by a crunch in exports.
With almost all potatoes plucked from the ground, the European nation is set to produce about five million tonnes of the tubers, up 11 percent on 2024 and just short of half a tonne per inhabitant, according to farming group Belpotato.
The milestone comes on the back of a steady rise in potato-farmed land fuelled by the country's world-beating frozen fries industry, which is now feeling the pinch of US tariffs and growing competition from Asia.
"We are at a tipping point," Belpotato's secretary Pierre Lebrun told AFP. "Global markets have been buying fewer European fries".
Fried potatoes are a national dish and symbol of pride in Belgium.
Dotted by "friteries" or "frituren" -- diners specialising in the stuff with names like Fritapapa and Frit'city -- the country has turned its taste for fried sticks into a huge commercial success.
The industry has expanded rapidly over the past decade, and Belgium is currently Europe's biggest producer and the world's largest peddler of what the British call chips.
In 2024 the country exported more than three billion euros ($3.5 billion) worth of cooked and frozen potato products, a three-fold increase on 2015, according to European Union data agency Eurostat.
A steady global appetite and a fast-food boom in Asia and the Middle East have spurred investments, said Christophe Vermeulen, the head of trade group CEO Belgapom.
"As a commodity, fries are always very popular. When the population grows and the middle class grows, the demand for fries grows as well," said Vermeulen.
"And obviously every time something fast food-ish opens in the world, they need fries."
- 'Reset mode' -
As factories sought to churn out more and more fries, potato prices reached a historic high over the past couple of years -- spurring a farming craze.
Farmers bought more land or rented it out from neighbours to plant potatoes, said Lebrun.
Producers in Belgium, France, the Netherlands and Germany, which also supply Belgian fries manufacturers, added 40,000 hectares to their plots this year, a seven-percent increase on 2024, according to industry figures.
A similar hike was recorded the previous year.
It seemed "the sky was the limit", Lebrun said.
But the situation has now come to a head.
Frozen fries-makers -- who eat up the lion's share of Belgian potatoes -- have been hit by a triple whammy of import tariffs in key market the United States, a strong euro hurting exports and the emergence of rivals in India, China and Egypt, said Vermeulen.
Frozen fries exports were down 6.1 percent in the year ending June 30, industry figures show.
Most potatoes are sold through seasonal contracts agreed before the harvest. On the the so-called free market however -- where the remainder are sold -- record production has sent prices crashing to about 15 euros a tonne.
That is down from the peak they hit last year of about 600 euros.
"It's going to be a difficult year," Baudouin Dewulf, a grizzled farmer in Geer, eastern Belgium, said. He lamented the "saturated market" as a harvester loaded an avalanche of potatoes onto a truck in a field behind him.
While seasonal contracts with fries manufacturers are protecting the income of many farmers, some will have to rethink their investments and brace for tough negotiations next year.
"The Belgian potato industry is in a reset mode," said Vermeulen.
F.Fehr--VB