Tomato Supply Squeezed
The record-breaking cold spell that affected Florida for almost two weeks straight in January hit many growers hard, especially tomato growers. Almost 70% of the early spring crop was destroyed.
Fresh tomato prices have been impacted greatly. Reggie Brown, executive vice president of Florida Tomato Growers Exchange, is reporting that a 25-pound box of tomatoes is trading for $30, compared with $6.45 a year ago. The prices are expected to take a tumble in April as South Florida’s crop, which appears in tact, comes on line.
The current shortage in fresh tomatoes have restaurants scrambling to adjust their menus and/or ration what they have. It also has forced supermarkets to consider more imports.
For more on that angle, click here to see Wall Street Journal’s coverage of this topic.