Tomato Price Trend and Forecast

Tomato Regional Price Overview

Get the latest insights on price movement and trend analysis of Tomato in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Tomato Price Trend for the First Half of 2024

Tomato prices were observed to be wavering at the higher end of the curve throughout the first half of the year 2024. Because of the varying yield quantities, a more struggling pricing dynamic was observed throughout the said period of this year. Tomato prices surged by about 19% from January to early March 2024 in India due to weather disruptions.  The market situation was concerning, with reduced sowing areas, unseasonal rains, hailstorms, and disease outbreaks affecting production, particularly in regions like Haryana, Western Uttar Pradesh, and Madhya Pradesh.
 

Tomato Price Chart

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Farmers faced higher production costs for their summer tomato crop due to extreme heat, with temperatures exceeding 45°C from March to May’24. Despite using drip irrigation and mulching, his yields dropped from 70 to 40 tonnes per acre, while other farmers saw even lower yields. Rising temperatures also led to increased fungal infections, doubling fungicide costs. Despite the retail price of tomatoes soaring, profits were wiped out by low yields and high expenses. Farmers in the region are considering alternative crops like sugarcane as tomato cultivation becomes economically unsustainable due to climate change.

Analyst Insight

According to Procurement Resource, as the new crop reaches the market, Tomato prices are expected to normalize in the coming monsoon months.
 

Tomato Price Trend for the Second Half of 2023
 
Tomato prices in India were observed to be fluctuating throughout the second half of the year 2023. Monsoon season in the third quarter trampled the tomato crop in the major producing regions of Madhya Pradesh, Andhra Pradesh, Uttar Pradesh, and Haryana, thus tightening the available tomato supplies in the Indian markets.

The state of Maharashtra supplied the tomatoes countrywide during this time from Nashik and Kolar. Excessive rainfall and flood-like situations in the Northern states during the month of July destroyed the tomato crops.

Tomato is an absolute essential in Indian cuisine; thus, demands are always high. The supply crunch in the monsoon months rendered the tomato prices soaring in July. However, as the supply situation normalized steadily in the fourth quarter, the prices also started normalizing. A varying price trajectory was witnessed in H2’23.

Analyst Insight

According to Procurement Resource, tomato prices are expected to remain steady in the coming quarter as well. The supply and demand dynamic looks stable in the coming winter months.
 

Tomato Price Trend for the First Half of 2023

The prices of tomatoes inclined throughout the first and second quarter of 2023 as heavy rains and even flood-like situations in certain parts of the world depleted the inventories due to a significant decline in the rates of production. In the UK, the rate of high-price imports surged to around 95% as its major suppliers, such as Spain, Morocco, and the Netherlands, suffered from adverse weather conditions and consistently rising costs of energy production. These constraints in production ultimately led to delays in shipping, raising the prices of tomatoes worldwide.

In the Asia-Pacific region, due to the extreme rise in the prices of tomatoes, the government, especially in India, took some major steps, such as procuring the crop from the states that have surplus stocks and distributing them in the regions where the hike in the price trend was most significant.

Analyst Insight

According to Procurement Resources, the price of Tomatoes is estimated to showcase a fluctuating trajectory as the supply chains of tomatoes are expected to improve in the upcoming months.

Procurement Resource provides latest prices of Tomato. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.