Process potato growers for McCain Foods have reached a contract deal. (CBC)

P.E.I. process potato farmers who grow for McCain Foods have a new contract.

The deal was reached in last-minute negotiations before it actually had to go to arbitration.

"There was a reduction of about three per cent on the base price and then in addition to that, there's changes to some of the language that would amount to right around four percent reduction in price compared to last year," said Greg Donald, P.E.I. Potato Board general manager.

The new contract is similar to a recent deal for Cavendish Farms growers.

Planting has begun in some parts of the province, a couple of weeks later than usual for some farmers due to the unusually cold and wet spring.