Corporate News

April 2011 Crop Report
16.04.2011

After the 2010 fiasco and spot prices for tomatoes up to €200 per mt and combined with the industry giving the farmers a price that is enough to encourage them to plant (at about the same level as Spain, bit more than Portugal, bit less than Italy) we are seeing a normal area being contracted. This will probably be 27,000 Ha. and if we get a yield of 74 mt per Ha. this implies a crop of 2 m mt - about average for the past 3 years, but below the 2008 & 2009 numbers.

Planting started in the Aegean area, where the acreage is up despite the cotton price (cotton is also up, so something else has lost out) 10-14 days ago and the first plantings for the North Marmara area are forecast for 25th April, although cold and wet weather forecast could lead to a few days delay.

After last years situation farmers are planting part of their fields uncontracted, but at the same time many factories are following the same route, with one side hoping for higher prices in the season and the other side lower. Probably the supply and demand will balance out and spot pricing will be similar to the contracted price of €80 delivered.

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