About crop 2020
From now the remaining quantities of tomato paste are mostly concentrated into the hands of big players like COFCO,GUANNONG,Ex HAOHAN and Ex CHALKIS. The 36/38 today Fob Tianjin prices is slightly going up to the level 810-830 USD/mt depending of quality,shipment and payment terms meantime shipment are not going smooth due to the existing market and logistic situation.All locally consider that remaining stocks will be till to the end of July 2021 near to 180 000 Mts.
Since last September till to end of March the whole Chinese producers had exported bulk paste around 470,000mts with an average price level at 786USD/mt Fob net which means that new possible coming orders could be concluded at around 810$/mt Fob and more.
As the cotton and maize prices are going up quite sharply, the fresh tomato planting areas -from today’s checking in Inner Mongolian, Gansu and Xinjiang- are about 28% less compare with crop 2020. Convert into Mu it’s 613000Mu (15Mu/Ha)and calculated as 6.5mts/Mu it is given only 4million mts . With a calculation as 7mts/Mu as yield it’s 4,3million fresh tomatoes means about 1 million mts less fruits versus 2020.
Current market situation is not so clear at the moment. Only COFCO TUNHE starts offering with different levels at different markets. It was heared that they had concluded with a GCC company at 880 $/mt FOB for 36/38% long delivery meanwhile Southern European companies currently have a targeting price at 830 to 850 $/mt Fob with CAD payment and delivery till end of December 2021.
From our point of vieuw the coming crop price level could evoluate into a scale from 850 to 900 $/mt Fob for 36/38% depending on product quality and payment term…..But most probably too soon to conclud any kind of pre-season contract even if among the raw materials absorbed by global exports of tomato paste, Chinese processing tomatoes remains the cheapest (at approximately USD 72 /mt) which also has to be weighted by the local cost increase of packaging and RMB fluctuation against the USD.
From our local sources: “the price of raw tomato in China is RMB 450-480 /mT, which is RMB 30 /mT higher (almost 7%, and 4.6 USD) than in 2020. According to the US dollar exchange rate (as of March 15, 2021), it is EUR 60 /mT or USD 71.5 /mT. The prices in the three regions are the same.”
From TOMATO NEWS source