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News

Rooted in growth: kicking off 2024 with Morning Star

16/02/2024 - Press release , François-Xavier Branthôme - 2024 Season

2024 has been dubbed the Year of the Tomato; in the world where consumer health awareness and the quest for nutrition dense foods are on the rise, the tomato emerges as a natural favorite. This is one of the reason why MorningStar is passionately investing in tomato research and development.

“At Morning Star, the first pages of the calendar are filled with growth, from the green leaves of our young plants to the fresh ideas sparked at our annual meeting.
James Sherwood and the Morning Star team in the February video unveil the exciting kickoff of the journey into 2024 as they step into the greenhouses and meeting rooms, laying the groundwork for a year of abundant harvests and shared achievements…

The December CLFP stock on hand report was published January 15, followed by the USDA NASS intention report on January 24. The January USDA NASS intention report showed a forecast of 11.6 million short tons (10.52 million metric tonnes (t)); since history has shown that the January NASS report is usually about 5% high, that would indicate approximately an 11 million tons (10 million t) 2024 California crop.

We have forecast expected months of stock on hand at the start of July 1st between three and four months. So in the context of NASS report, we are seeing processors trying to trim down inventories by up to one month to try to keep a stable production volume without wild fluctuations of pricing.

Certainly the recent rain and snow in California should keep water costs down and provide our growers with lots of opportunity to plant tomatoes in the coming years. These rains were refreshing as we prepare for planting starting in March.

As James Sherwood speaks, some seeds are being carefully sown into trays, as others have already blossomed into tiny plants. For a select few, the countdown has begun just under a month until they find their new home in the fields ready to flourish and contribute to the summer harvest.

Masterplant is the top provider for high quality plants in California; capacity at Masterplant is currently 310 million plants, which will give growers just about 40,000 acres for California. Masterplant is currently planning and designing an expansion that will give about 60% increased capacity from where the company is at in few years from now. As part of the innovation efforts at Masterplant, “we have been encouraging in grafting technologies from which we hope that we will add value to the growers by getting a more resilient plant at the end of the journey.”

Source: MorningStar

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