First french fry contract settled in the US

February 08, 2010
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.
Like to receive news like this by email? Join and Subscribe!
Join Our Telegram Channel for regular updates!
Sponsored Content
NanoNord - Leaderboard - 20240924

Highlighted Company

Sponsored Content
Urschel - Leaderboard - 20231207
Sponsored Content
Sponsored Content
Sponsored Content
Sponsored Content

Where

Sponsored Content