Mexico's citrus production is expected to decrease due to the drought

The decrease in Mexico's citrus production, which could have fallen by 50% in 2020 due to the severe droughts that hit the country, could benefit US citrus producers as it will lead to a decrease in the country's orange, tangerine, and grapefruit imports, which in turn will increase the prices of their products and allow them to make better use of the domestic market.

John Kiernan, the president and CEO of Alico, a US citrus producer, said that there was an increase in the demand for orange juice in the US, which reduced the stocks of Florida citrus processors and bodes well for market prices in 2021.

“The harvest season in Brazil and Mexico, the main citrus exporters to Florida, is expected to be substantially shorter than in 2020. Alico is well-positioned to benefit significantly from these changing dynamics as prices rise because we have one of the lowest cost structures in the citrus industry,” he stated.

 

Source: elfinanciero.com.mx 


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