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Throughout the first and second quarters of 2023, tomato prices surged globally, driven by adverse weather conditions. Heavy rains and flooding in various regions disrupted production and depleted inventories. In the UK, high-price imports rose significantly to 95% as key suppliers like Spain, Morocco, and the Netherlands faced weather-related challenges and increased energy production costs.
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These production constraints also led to shipping delays, contributing to the worldwide tomato price increase. In the Asia Pacific, governments, notably in India, took measures to address rising prices by procuring surplus stocks from certain states and distributing them to regions most affected by the price hikes.
Definition
Tomatoes are red or yellowish fruits known for their culinary versatility and rich nutritional value. Botanically classified as berries, they belong to the Solanum genus and are typically consumed as vegetables. Tomatoes are valued for their sweet, slightly acidic flavor and vibrant color. They are a rich source of vitamins, particularly vitamin C and vitamin A, as well as essential minerals like potassium and folate. Their properties include a high-water content, making them refresh and hydrating, and they are commonly used in various dishes, including salads, sauces, soups, and sandwiches, contributing both flavor and nutritional benefits.
Key Details About the Tomatoes Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Tomatoes in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Tomatoes Price trends, including India Tomatoes price, USA Tomatoes price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Tomatoes Price Trend:
Tomatoes have a significant presence in the food processing industry, where they are transformed into various products. Tomato-based goods include sauces, purees, ketchup, canned tomatoes, and tomato paste, which serve as essential ingredients in a wide array of culinary dishes. Additionally, tomatoes are utilized to make tomato juice and soups, enhancing the flavor and nutritional value of these beverages. Tomatoes also contribute to the production of dried tomatoes and sun-dried tomato products, used in salads, sandwiches, and snacks. The versatility of tomatoes in food processing highlights their importance as a fundamental ingredient, enriching the taste and nutritional content of numerous food products.
Key Players:
- Ontario processing vegetable growers
- CASALASCO- SOCIETA AGRICOLA S.p.A.
- Tomato Growers Supply Company
- Sahyadri Farma Post Harvest Care Ltd
- PACIFIC RIM PRODUCE
- West Coast Tomato LLC
News and recent development:
Retail prices of tomato may decline as wholesale rates fall over 30%. Due to a wholesale price drop of more than 30% at a major tomato market in Maharashtra, which sustains supplies from August to December, tomatoes may soon be available for less than Rs 100/kg at the neighborhood vegetable store. (Dated: 18 August 2023)
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Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.
We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence providing you with the latest and consistent data.
To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients with up-to-date and pioneering practices in the industry to understand procurement methods, supply chains, and industry trends so that they can build strategies to achieve maximum growth.
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