Pantry Watch update for week ending 8/20:
Condensed tomato soup has gone from 58 cents per can to 68 cents per 10.75 ounce can, a 17% increase.
This follows the recent pricing increase for other tomato-based products.
The region in California which produces 40% of the world’s sauce tomatoes has been hit hard by drought and farmers are expecting significant crop loss.
Ketchup has already seen a pricing increase of 27% and many other tomato products have increased by 15-20%.
Pricing for other products I am following has remained stable for two weeks.
Locally, stock has improved for products which have been problematic this summer.
The local plunge in pricing of beef products has leveled out. Pricing was slightly higher this week. This seems to be in line with national news stories which had predicted a temporary glut of beef on the market as ranchers are liquidating herds. Beef prices are expected to climb sharply after the inventory glut has passed.