In California, the FOB tomato paste prices rose sharply in 2022 and reached a value of 1688 USD/MT in March, while in Spain the tomato paste prices were recorded at around 847 USD/MT in December 2021. Portugal recorded tomato paste prices of 959 USD/MT in December while Italy observed a price of 1124 USD/MT during the same time. Due to rising production overhead costs, rising fuel and raw material costs, Italian tomato paste export prices were anticipated to rise to 1,225 USD/MT in February-22, a 4% MoM increase. As a result of these factors, energy prices for Italian farms have increased by 120% year on year, forcing tomato processing companies to reduce or suspend their production life cycle. Sea freight costs have also risen, potentially reducing export margins as ship space has become limited and containers are scarce. The tomato industry is waiting for a framework agreement to be signed between producers and manufacturers. This agreement will define the sector price of tomatoes to be awarded to growers, allowing companies to plan ahead of time and protecting the industry from rising production costs.
Procurement Resource provides latest prices of Tomato Paste. 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.
Procurement Resource provides prices of Tomato Paste for several regions around the globe, which are as follows:
About Tomato Paste:
Tomato paste is basically a thick paste that is prepared by cooking tomatoes for several hours. In appearance, it is a thick red paste. The two significant types of tomato paste are hot break and cold break, which are further used in the production of different end products. Based on the formulation, the paste can serve as a base for preparing either ketchup or reconstituted tomato juice.
In hot brake process, tomato pulp is heated between 85 to 95 degree Celsius. After this, the pulp undergoes filtration to remove tomato seeds and peels. Finally, the mixture is evaporated to reduce the moisture content and form a thick Tomato Paste.
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The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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