W8 Tomato Update: European Vegetable Prices Decline Amid Increased Supply, Azerbaijani Tomato Exports to Russia Slightly Decreased in 2023

Published 2024년 3월 1일

In W8 in the tomato landscape, tomato, eggplant, and zucchini prices are dropping due to accelerated crop growth and early harvests in Europe, resulting in surplus supplies. Tomato prices have notably decreased across various types, while eggplants and zucchinis are also experiencing declining prices. Significant imports from Morocco and Türkiye exacerbate the oversupply situation. Meanwhile, Azerbaijani tomato exports to Russia saw a slight decline in 2023 compared to 2022, with both volume and value experiencing minor contractions. Russia remained the primary importer, although export volume and value decreased slightly, suggesting potential market saturation.

Seasonal Abundance and Import Pressure Drive Down Prices for Vegetables in Europe

As of W8, the European vegetable market has experienced price declines for certain products, such as tomatoes, eggplant, and zucchini. Prices for various tomato types have fallen considerably compared to W7, with long-life tomatoes averaging USD 0.43 per kilogram (EUR 0.40/kg), pear tomatoes at USD 0.22 to USD 0.43/kg (EUR 0.20 to EUR 0.40/kg), and smooth tomatoes at USD 0.54 to USD 0.76/kg (EUR 0.50 to EUR 0.70/kg). Long eggplants are seeing prices between USD 0.32 to USD 0.49/kg (EUR 0.30 and EUR 0.45/kg), while striped varieties are selling for USD 0.59 to USD 1.19/kg (EUR 0.55 to EUR 1.10/kg). Both fine and fat zucchini varieties are experiencing declining prices, ranging from USD 0.27 to USD 0.49/kg (EUR 0.25 to EUR 0.45/kg).
Warmer weather conditions have led to accelerated crop growth and earlier harvests, resulting in a surge in the overall supply of these vegetables. This aligns with the observation that many fall-transplanted crops are already being harvested. Continued significant imports of vegetables from Morocco and Türkiye further contribute to the oversupply situation within the European market.

Azerbaijan's Tomato Exports to Russia Remain Dominant Despite Slight Decline in 2023

Data from the Azerbaijani State Statistics Committee reveals a slight decline in tomato exports in 2023 compared to 2022. Russia remained the primary destination for these exports, although both volume and value experienced minor contractions. Azerbaijan exported 140.6 thousand metric tons (mt) of tomatoes in 2023, reflecting a 0.6% year-over-year (YoY) decrease compared to 2022. The total value of exported tomatoes in 2023 reached USD 161 million, representing a 3.4% YoY decline.

Russia remained the primary importer of Azerbaijani tomatoes in 2023, accounting for 97.8% of total exports. Despite maintaining its dominant position, both the volume and value of tomato exports to Russia experienced slight declines. In 2023, 137.4 thousand mt of tomato was exported to Russia. This indicates a 0.1% YoY decrease, with a total value of USD 156 million, reflecting a 3.1% YoY decline. The slight decrease in export volume might indicate potential market saturation in Russia, the dominant market for Azerbaijani tomatoes.