Processing Tomato Acreage Down and Trade Mission to South Korea
From the Ag Information Network, this is your Agribusiness Update.
**California farmers are scaling down their processing tomato acreage this year as processors enter the planting season with boosted inventory.
The state’s tomato processors planned to contract for 11.6 million tons this year, down about 10% from the 12.9 million tons in 2023.
Last year California growers harvested their largest tomato crop in several years after winter storms replenished water supplies.
Now acreage is declining as demand softens for processed tomatoes.
**Representatives from 49 U.S. companies and organizations will join the USDA’s agribusiness trade mission to Seoul, South Korea.
Led by Undersecretary for Trade and Foreign Agricultural Affairs Alexis Taylor, the mission takes place March 25-28.
Undersecretary Taylor says she’s confident this trade mission will produce great results for America's farmers, ranchers, agribusinesses, and exporters, as they strengthen trade with our existing partners and expand and diversify the products we offer.
South Korea is our fifth-largest single-export market.
**Unit sales of 100+ horsepower ag tractors increased slightly in February 2024 in the U.S., according to new data from the Association of Equipment Manufacturers.
The month recorded an increase of 2.8% compared to February 2023.
However, year-to-date data reflects sales below 2023 in total units of ag tractors and combines.
Ag tractor sales dipped 14.2%, while combines finished under
18.9%.
