Tridge summary
The latest report from the Canned Food Alliance (CLFP) reveals a significant decline in the United States' processed tomato product stocks, reaching a 24-year low of 6.918 million metric tonnes as of December 1, 2022. This represents a 8.5% decrease from the previous year and a monthly apparent consumption rate increase of 4.7% compared to December 2021. The report also highlights a threefold decline in the balance between processing and consumption, with domestic consumption likely contributing to the slowdown. Despite a slight increase in bulk tomato paste stocks for bulk sale, deliveries to buyers have decreased by about 15% from the previous year. The current rate of apparent disappearance of stocks suggests a potential deficit of around two months compared to a balanced situation, raising concerns about the industry's ability to meet demand and impacting prices and producers' motivation. The report, based on voluntary pack and inventory reports from U.S. processors, emphasizes the importance of maintaining balance in the industry.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
According to the report released at the end of December 2022 by the CLFP, total U.S. stocks of processed tomato products, expressed in raw material equivalent, were approximately 6.918 million metric tonnes (mT) as of December 1, 2022. These quantities of products (physically present in companies' warehouses) are 640,000 mT lower (-8.5%) than for the corresponding period last year. They also represent the lowest level of stocks since December 1, 1998.December 2022: lowest inventory level since December 1, 1998The six-month apparent disappearance rate of stocks of processed tomato products increased by 4.7% compared to December 2021, reaching about 6.065 million mT over the period between June 1 and December 1, 2022 – an increase of about 50,000 mT in monthly apparent consumption rate. Nevertheless, it appears that, for the third time this year, the monthly rate of apparent sales over 12 months, from December 1, 2021, to December 1, 2022, remained below the 1 million short tons ...
Source: Tomatonews
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