A combination of a low Italian crop yield and increasing production costs will push the price of tomato products up, according to ingredients company Eurostar Commodities.
The Yorkshire-based firm stated that wholesale prices for tomatoes have already increased significantly compared to last year and could continue to rise as the 2021 crop is harvested and enters the market.
Jason Bull, director of Eurostar Commodities, said: “Prices are increasing more than 50% comparing to pre-season 2020. Suppliers in Italy have now started to offer prices for this year’s new crop, asking on average 20% more than last year. In food service in the last few months prices have not increased proportionally since demand was low. But now the market is restarting, and prices are going to the level we expect for next crop.”
The predicted price increases would affect consumers and the restaurant and foodservice industries, as cost rises for whole, peeled plum and chopped tomatoes are passed on to buyers.
