Trade in fresh potato and potato products is having a greater influence on domestic markets and prices. As we enter new trading relationships with EU and non-EU countries, monitoring this trade will be a key indicator of future trends in price.
Latest UK trade data - HMRC
A further breakdown of UK trade data is available from HMRC. The latest volume data from HMRC is collated on a monthly basis with information for the crop year (July to June) also being available. In comparison to the above dashboard the HMRC trade data for potatoes is reported without the Below Threshold Trade Allocation (BTTA), similar to that published by HMRC on its website.
What is BTTA?
All UK VAT registered businesses who reach a set threshold for their value of trade with other EU Member States are required to submit Intrastat declarations for the production of intra-EU trade statistics. The trade value for businesses below this threshold can be identified from their VAT returns, but without detail on commodity and partner country.
BTTA is the process whereby this value is allocated to particular commodity and partner country combinations. This is done by analysing the patterns of trade from the previous year, specifically looking at those business above but close to the threshold, in comparison to Intrastat trade overall. Factors generated from this are then used for the following year's BTTAs (HMRC).
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