The Economic Times  Jul 21  Comment 
Tomato prices have doubled to Rs 80 a kg in the past week, as plant diseases halved the output in Maharashtra, a major producer.
New York Times  Jul 21  Comment 
This colorful risotto serves as a luxurious showcase for summer’s bounty of tomatoes and corn.
New York Times  Jul 21  Comment 
Focaccia, a little crisp on the bottom but soft on the top and inside, can take on many toppings besides tomatoes.
New York Times  Jul 21  Comment 
This dish turns summer tomatoes into a salsa cruda that can also work well with most any kind of fish.
The Hindu Business Line  Jul 16  Comment 
As consumers wait for onion prices to cool down, retail prices of tomatoes have skyrocketed to Rs 60 per kg in the national capital.Mother Dairy’s Safal outlets are selling tomatoes at Rs 4...
New York Times  Jul 15  Comment 
Coconut oil gives this dish fragrance without heaviness.
guardian.co.uk  Jul 15  Comment 
German supermarket hopes to plonk itself into the wine market with a basket of vintage French wines to attract extra middle-class customers Bottles of Châteauneuf-du-Pape will soon be sitting next to 69p packs of tomatoes in Lidl baskets as...
Forbes  Jul 14  Comment 
As the World Trade Organization nations approach the July 31 deadline to ratify the Bali Trade Facilitation Agreement, dozens of trucks wait in queue to cross the border from Kenya to Uganda. Hauling tomatoes along East Africa’s northern border,...
TechCrunch  Jul 10  Comment 
 Netflix is like the candy dish at your grandmother’s house. Most of the movies are crap, but you know, buried somewhere in there, is something worth your time. A Better Queue is a site dedicated to finding the Werther’s Originals in Netflix...
Yahoo  Jul 9  Comment 
By Theopolis Waters CHICAGO (Reuters) - The cost to produce a BLT, America's favorite summer sandwich, hit a record high of $1.65 in May and will continue to take a bigger bite out of wallets in the coming months, given a pig virus that has ramped...




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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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