Tomato prices have escalated sharply in recent years and are projected to surge further. This is concurrent with inflation ticking up to 4%, contrary to predictions of a downtrend. According FreshPlaza, unlike other commodities where price hikes are decelerating, tomatoes are forecasted to get pricier.
Tomato production costs have surged 38.5% since 2022, the largest jump among the UK’s top nine fruits and vegetables. Overheads such as energy, packaging, and labor have soared for British tomato growers over the last year and a half.
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Wholesale tomato prices have seen a significant upswing in the past 18 months. Last year, average tomato prices reached a 50-year peak of £3.26 per kilo, according to the Office of National Statistics (ONS). The impact of climate change on harvests in key import nations and rising production costs are expected to lead to a reduction in British tomato production this year.
High inflation, drought, and extreme weather have compounded the challenges faced by tomato producers, making it harder for importers, growers, and retailers to turn a profit. Rising energy costs have also hit farmers hard. Greenhouse heating costs have surged, as have the prices of fertilizer and seeds.
Despite inflation slowing down from double digits to 3.7% in November, industry insiders predict that tomato prices will remain elevated for a prolonged period. This price inflation has left several independent retailers in a quandary.
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