It’s no surprise that Christmas dinner is shaping up to be a costly affair this year, given the rate of grocery inflation, and those delicious roast potatoes will be no different.
Torrential weather conditions across Western Europe and the UK have hit the supply side of the spud industry, with waterlogged fields running the risk of causing rotting crops.
As a result, potato futures prices have surged more than a third year on year, according to the wholesale market-tracking contract for difference.
As of 7 December, the contract on 100 kilogrammes of potatoes was €33 (£28.3), a new seasonal record.
Historically, spud futures, which are widely traded on the European Energy Exchange (EEX), reached an all-time high of €55 in June of 2023.
Drastically more expensive retail prices have aligned with the surge in wholesale prices for earth apples, as the French call them.
For reference, 100 kilogrammes of loose British baking potatoes from Sainsbury’s currently sets you back around £70 (€81.6), or 70p a kilo.
This time last year, the supermarket was selling them for an equivalent of £47.6p per 100kg, meaning they’ve increased in price by around 47% year on year.