Why Tomatoes Are the Most Expensive They've Been in Four Decades

June 11, 2026

AI Summary

5 min read

🎙️ The Voices & The Context

The Format: A casual, expert interview wrapped in a lively host banter session. It’s part economics explainer, part foodie love letter.
The Key Players:
- Hosts: Tracy Alloway and Joe Watsenthal (Bloomberg’s Odd Lots). Joe is a self-proclaimed tomato fanatic who can’t stop listing varieties. Tracy is the curious, slightly more disciplined host.
- Guest: Jacob Krempel, SVP of Procurement and Merchandising at Baldor Specialty Foods. He’s a third-generation produce guy who grew up in the business, giving him both deep industry knowledge and a genuine passion for flavor.
The Vibe: Fun & Educational. The hosts’ genuine excitement for tomatoes is infectious, and Jacob’s insider stories make the economics of produce feel like a thrilling detective story.

🗝️ Key Themes & Topics

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What you'll learn

1 (00:00) **🎙️ Introduction: Jacob Krempel, SVP of Procurement & Merchandising at Baldor Specialty Foods**
2 (04:50) **How Baldor Works: A High-Line Distributor**
3 (09:12) **Pricing Dynamics and Contracts in Food Service**
4 (11:40) **Decomposing the Price of a Tomato**
5 (13:20) **The Perfect Storm: Florida Freezes & Mexican Tariffs**
6 (18:18) **Retail Pricing: "Up Like a Rocket, Down Like a Feather"**
7 (24:49) **Disease and the Tomato Industry**

+ Full timestamped outline available in the app

Show Notes

In April, the price of tomatoes was around $2.69 per pound — the highest seen in some four decades. And tomatoes aren't the only food getting more expensive. From cauliflower to lettuce, fresh produce is spiking all over the place. So what's driving the price spike? And what can tomatoes teach us teach about America's political economy including changes in trade and tariffs? Our guest today is Jacob Krempel, senior vice president of procurement and merchandising at the wholesale food distributor Baldor, and an expert in securing fresh produce. We talk to him about where America's tomato supply actually comes from, why consumers are paying more and more, how restaurants navigate price fluctuations, and the influx of novel new tomato varieties.

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