CNNMoney.com  Aug 15  Comment 
Read full story for latest details.
New York Times  Aug 12  Comment 
A perfect dish for summer tomatoes. It works well with two uncooked sauce options: one sweeter, one mintier.
The Economic Times  Aug 10  Comment 
"June-Nov is tomato production season in mid hill tracts of our country & we could sell tomatoes at competitive prices," Nepal Minister
Reuters  Aug 7  Comment 
It's been more than a month since Nirmala bought fresh tomatoes. A fourfold rise in prices since early June has made the essential ingredient in Indian curries and sauces a luxury she can no longer afford.
Southeast Farm Press  Aug 6  Comment 
Despite fairly high thrips pressure through early June, the occurrence of tomato spotted wilt Alabama’s peanut crop appeared to be minimal. read more
DailyFinance  Aug 4  Comment 
The New Home Company (NEW HOME) (NYSE: NWHM) today announced that development of The Cannery, the thoughtfully designed mixed-use neighborhood in Davis, Calif., is progressing on schedule with the commencement of...
New York Times  Aug 4  Comment 
This spicy, juicy meal, perfect for the summer, is one of a variety of Tunisian grilled salads. The couscous can be served warm or at room temperature.
New York Times  Aug 1  Comment 
Mississippi voters came to hear Mr. Cochran give his stump speech at the Neshoba County Fair, a 125-year-old tradition that signifies the beginning of the general election season.
The Economic Times  Jul 30  Comment 
The prices of tomato are continuously moving up with the onset of monsoon due to strained supplies and higher wholesale prices in key producing states.
Red Orbit  Jul 30  Comment 
By Andy Fell, UC Davis The genome of Solanum pennellii, a wild relative of the domestic tomato, has been published by an international group of researchers including the labs headed by Professors Neelima Sinha and Julin Maloof at the UC Davis...




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Tomatoes prices have followed in the footsteps of many other foodstock commodities such as wheat and corn for many of the same reasons: increasing prices for energy, farming chemicals, water, and labor have all contributed. A key trend driving the overall price hike for farmed commodities is the rise in corn production for ethanol; as farmers get paid higher prices for corn, many switch their land use to produce this energy feedstock, thus lowering the supply of other crops.

As a result, the price per ton of tomatoes has gone up from about $50 per ton from 2001-2005 to $63 per ton for the 2007 summer crop. [1]

Companies Hurt

  • H.J. Heinz Company (HNZ) sells 650 million bottles of ketchup a year and tomatoes are a key ingredient. Heinz's overall input costs--including corn syrup, another major ingredient--have been rising, and the company has not passed on the entire increased cost to consumers (i.e., Heinz's gross margins are shrinking)

Companies Benefiting

  • Monsanto Company (MON) purchased the then-biggest seed company in the world for $1 billion in 2005. Semini controlled about 23% of worldwide tomato seed market in 2005. Since then, tomato seed costs have tripled, from $300 to $900 per 100,000 seeds. Monsanto benefits from the increased prices of almost all farmed commodities, as the company produces a range of farming related products, including seeds, fertilizer and agri-chemicals.
  • Deere & Company (DE) is another company that benefits from a rise all agricultural commodity prices. The company produces machines used in the agricultural business.

References

  1. California Tomato Growers Association
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