Brusco has published its latest ‘Tomato Talk’ market report for 2024.
The report shows that 2024 tomato prices are expected to finally reduce after a volatile few years, due to good availability and stabilisation of some input costs.
The report picks out a number of market highlights including:
- World tomato production for 2024 season forecast to increase by 6% to 47.2million MT (44.4 million MT in 2023).
- Increased production is largely coming from China which is forecasting 40% higher volumes.
- European prices are expected to be stabilising compared to 2023 due to reductions in packaging, transport and energy pricing.
- Planting is due to start in the Northern Hemisphere countries with a small delay due to heavy rain.
- Ocean freight challenges remain due to the unsettlement in the Red Sea. Road freight is stabilising as demand in Europe recovers.
- Overall we expect lower prices for new season material due to good availability and stablisation of some input costs.
As we head towards tomato processing season in September, we are encouraging customers to send our team their forecasts in order to secure the best offers for new season starting in September 2024.
For further information, view the full tomato market report document here.
To contact the team, phone 01386 761555 or email enquiries@brusco.co.uk
