Preface Mark

Dear colleagues, 

October traditionally marks the start of the new export season for seed potatoes. Last week, the logistics teams began shipments, primarily to Bangladesh and Pakistan. These are traditional destinations that always arrive early to the market to purchase and ship volumes. In the coming weeks other destinations in the Middle East and North Africa will also begin calling up their first volumes. 

The potato market is showing its most volatile side. While we closed the 2024 season with record sales and achieved excellent payout prices for our growers, we are seeing a shift in sentiment. In the early regions where all the potatoes have now been harvested and sold, daily prices were often below the cost price of potato production. This sentiment is, of course, evident throughout the potato market. At the moment, many things are still unclear about how the new season will unfold, but more pieces of the puzzle will fall into place in the coming weeks. 

A very impressive result
Last week, all the Managing Directors of the Agrico subsidiaries and the management team met in Edinburgh. We had excellent meetings, as you can read later in this newsletter. Each subsidiary presented last year's results there, a very impressive result. I would also like to thank all the employees of our subsidiaries who made this result possible!

We also considered the expectations for the 2025 season. While sentiment has changed, we can nevertheless conclude that as the Agrico Group, we are very confident that this year will also be successful. This will certainly require some effort, but I am convinced that through continuous communication within and between the various departments and companies, we will all achieve maximum results. The foundation is solid, and we have demonstrated great resilience. These two characteristics are the foundation of our success! 

We wish you every success in the challenges ahead and, above all, much enjoyment in your work. 

Mark Zuidhof