Italy Actively Expands Preserved Tomato Production and Exports
IndexBox has just published a new report: ‘Italy – Preserved Tomatoes – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.
Italy boosts its production and exports of preserved tomatoes. Over the past decade, the output soared from 1.3M tonnes to 2.1M tonnes. Exports also followed an upward trend, reaching $1.3B in 2020. The UK, Germany and the U.S. comprise 45% of preserved tomatoes supplied from Italy in physical terms, while Australia featured as the fastest-growing importer last year. The average export price for preserved tomatoes increased by +9.1% y-o-y to $853 per tonne in 2020.
Preserved Tomato Production in Italy
Preserved tomato production in Italy rose notably to 2.1M tonnes in 2020, surging by +13% compared with the previous year. Over the past decade, Italian preserved tomato production increased nearly twofold, from 1.3M tonnes to 2.1M tonnes. In value terms, preserved tomato production skyrocketed by +29.3% y-o-y to $1.9B in 2020, estimated at export prices.
Preserved Tomato Exports from Italy
In 2020, approx. 1.5M tonnes of preserved tomatoes were exported from Italy, increasing by +2.7% in 2019. In value terms, preserved tomato exports rose significantly to $1.3B (IndexBox estimates) in 2020.
The UK (302K tonnes), Germany (237K tonnes) and the U.S. (141K tonnes) were the main destinations of preserved tomato exports from Italy, together comprising 45% of the total figure. France, Japan, Australia, the Netherlands, Belgium, Sweden, Canada, Poland, Austria and Denmark lagged somewhat behind, together comprising a further 35%.
In value terms, the largest markets for preserved tomato exported from Italy were the UK ($258M), Germany ($183M) and the U.S. ($127M), with a combined 44% share of total exports. These countries were followed by France, Japan, Australia, the Netherlands, Sweden, Belgium, Canada, Austria, Poland and Denmark, which together accounted for a further 36%.
Among the main countries of destination, Australia (+26% y-o-y) saw the highest growth rate of the value of exports last year, while shipments for the other leaders experienced more modest paces of growth.
The average preserved tomato export price stood at $853 per tonne in 2020, increasing by +9.1% against the previous year. Average prices varied somewhat for the major foreign markets. In 2020, the countries with the highest prices were Sweden ($1,026 per tonne) and Austria ($957 per tonne), while the average price for exports to Belgium ($747 per tonne) and Germany ($772 per tonne) were amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to Canada, while the prices for the other major destinations experienced more modest paces of growth.
Source: IndexBox Platform