Feb12

GLOBAL DEMAND GROWTH SEEN FOR FRENCH FRIES

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GLOBAL DEMAND GROWTH SEEN FOR FRENCH FRIES
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The french fry market is growing. For Washington State exports world sales by dollar value has increased 10% from the 2018 calendar year. In total, french fry sales by value exceeded $883 million dollars in 2019. And the peak in that growth curve has not yet been reached, as Asia and Latin America consumption is still smaller than the American one. Good news for Washington State potato farmers as french fry capacity growth could help strengthen the State’s economy. The top five french fry markets by value in 2019 are Japan, $220 million; Korea $91 million; Philippines $83 million; China $66 million; and Taiwan $57 million. Washington State fry exports by value have fallen in China 24 percent due to a 15 percent applied tariff rate versus 5 percent MFN tariff rate stemming from geopolitical issues. Washington State potato farm families provide $7.4 billion dollars in direct and indirect economic benefit while supporting more than 36,000 jobs.

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Wednesday, 12 February 2020

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