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Close to 143,000 tonnes in 2016, Iran's trade surplus in “tomato paste” has risen to almost 240,000 tonnes in 2024, while at the same time, the financial surplus has fallen from 209 million USD in 2016 to 133 million USD in 2024.
After two “flat” years in 2021 and 2022, Iranian exports of tomato paste (HS codes 200290) have rebounded to between 235,000 and 240,000 tonnes in 2023 and 2024; the bulk of products sold abroad are destined for markets in Eurasia (Russia, Afghanistan, Turkey, Armenia and Kazakhstan, to name but the most important) and the Middle East (Iraq, Emirates, Oman and Jordan). Over the past four or five years, the Iranian industry has also been developing commercial relations in the paste sector with markets outside its traditional commercial sphere, notably Italy, Romania, Libya, Ivory Coast, Pakistan and Somalia: the total volumes involved, however, have only represented around 16% of total Iranian activity over the past two years.
Long based exclusively on foreign sales of paste, Iran's trade balance in tomato products has in recent years seen the emergence of revenues generated by the sauces sector (HS codes 210320): these sales, however, accounted for only a tiny share (between 3% and 5%) of the surplus generated by the tomato products sector between 2021 and 2024, and revenues from sales of canned products were virtually non-existent.
Last year, Iran's trade surplus in the processed tomato sector amounted to around 138 million USD, slightly up on the result for 2023, of which 133 million USD came from paste exports. Paradoxically, while the trade balance for paste shows a general upward trend in volumes, the financial surplus generated by the sector is tending to decline: from around 143,000 t in 2016, the “tomato paste” trade surplus has fallen to almost 240,000 t in 2024; at the same time, the financial surplus has melted away, from 209 million USD in 2016 to 133 million USD in 2024.
Last year, Iran's trade surplus in the processed tomato sector amounted to around 138 million USD, slightly up on the result for 2023, of which 133 million USD came from paste exports. Paradoxically, while the trade balance for paste shows a general upward trend in volumes, the financial surplus generated by the sector is tending to decline: from around 143,000 t in 2016, the “tomato paste” trade surplus has fallen to almost 240,000 t in 2024; at the same time, the financial surplus has melted away, from 209 million USD in 2016 to 133 million USD in 2024.
Although they are not representative of the contractual realities of this market, the indicative unit values for paste exported by the Iranian industry are part of a spectacular downward price trend: disregarding qualities, packaging, contract and call terms, the unit value of a tonne of Iranian paste destined for export has thus fallen from an average level of 1,570 USD/t over the period 2014-2016 to an average value of around 557 USD/t over the period 2022-2024, a drop of 65% over the decade.
Some complementary data
Evolution of quantities processed by Iranian tomato industries; according to data collected by WPTC earlier this year, Iran plans to process 2 million tonnes of fresh tomatoes by 2025.
Evolution of quantities processed by Iranian tomato industries; according to data collected by WPTC earlier this year, Iran plans to process 2 million tonnes of fresh tomatoes by 2025.
Sources: Trade Data Monitor, WPTC
