Columbia Basin growers ratified a 2010 contract with Lamb-Weston last week. The editor of North American Potato Market News, Bruce Huffaker, reported that this was to be the second year of a two-year contract, which was indexed for production costs.
The settlement reportedly honored the price terms of the original agreement. The contract return declined slightly less than 12%, in line with the reduction in input costs. According to Mr Huffaker, the growers agreed to other material changes to the contract, to make it more palatable to Lamb-Weston.
The 2010 contracts will still be acreage based, but they will include a cap of 3% over a target volume. The cap will be enforced for each grower, at the variety level. The settlement is likely to be a template for remaining settlements in the Columbia Basin. Mr Huffaker said the settlement with Lamb-Weston will be viewed as a benchmark for other negotiations across North America this season.
- News
- French Fries and Potato Specialties
- First french fry...
February 08, 2010
Source
Like to receive news like this by email? Join and Subscribe!
Join Our Telegram Channel for regular updates!
Related Topics:
Highlighted Company
Related News
November 22, 2024
Alleged 'potato cartel' accused of conspiring to raise price of frozen French fries, tater tots across the United States
November 17, 2024
Jumbo coupons for jumbo fries: McCain introduces giant coupons across Canada to launch their new Jumbo Crinkle Fries
November 11, 2024
New Sweet Potato Wedges launched at SIAL Paris 2024 by International Food & Consumable Goods (IFCG)
Latest News
Sponsored Content
Sponsored Content
Sponsored Content
Sponsored Content
Where
Sponsored Content