TechCrunch  Feb 23  Comment 
 Robots. They’re eating our jobs one occupation at a time, some say. They’ll pour your drinks without expecting tips. They’ll write up the news without demands for exclusives or the penchant for whisky. And now… they’ll sit on your...
Wall Street Journal  Feb 17  Comment 
Fresh Del Monte’s loss narrowed in the fourth quarter as higher banana volume in North America, as well as sales growth in tomatoes and melons, offset weakness in prepared foods and led to better-than-expected results.
Wall Street Journal  Feb 17  Comment 
Forbes  Feb 10  Comment 
Super Bowl 2015 is over, but winter is hanging on for a few more months and our stoves will still be bubbling with pots of chili. This is always a dish I struggle with when pairing with wine---and sometimes it just makes more sense to break out a...
The Hindu Business Line  Jan 25  Comment 
The world’s biggest tomato which can feed a family of four and is about 12 times the size of an average salad tomato has been launched in the UK. Breeders in the UK and the US developed t...
NPR  Jan 24  Comment 
A handful of chefs and food companies are experimenting with fish-like alternatives to seafood. But the market is still a few steps behind plant-based products for meat and dairy.
Forbes  Jan 13  Comment 
If you've ever planted anything—from a lima bean in a water soaked paper towel to a vegetable garden—you know that it takes time and the right conditions to bring anything from dormancy to fruition. It really doesn't matter how anxious you are...
The Economic Times  Jan 6  Comment 
Besides tomatoes, other vegetables which are exported to neighbouring country are peas, capsicum and lady finger.
Clusterstock  Dec 17  Comment 
Tomato prices went nuts in November. The price of tomatoes saw a huge 10.4% seasonally adjusted  month-over-month increase in October, up from a 4.6% increase in September. This is according to the Bureau of Labor Statistics' just-released...
NPR  Dec 12  Comment 
In the last four years, 30,000 tomato pickers covered by a "fair food" program got a 50-to-70 percent pay raise. Advocates are now working with retailers and other industries to duplicate the model.
Southeast Farm Press  Nov 19  Comment 
Clint Thompson, University of Georgia “In the past couple of years, we’ve seen an increase, certainly not to the level it was in 1995 or 1997, but I’m seeing more and getting more reports from growers of tomato spotted wilt virus....




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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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