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In Florida and Brazil

Citrus crop problems are pushing juice prices to 5-year highs

Citrus crop problems in Florida and Brazil are pushing juice prices to 5-year highs. Orange juice stockpiles are dwindling around the world, propelling prices to five-year highs as Florida faces its smallest crop since 1945 and top citrus producer Brazil grapples with depleted inventory.

Output in the Florida, the biggest juice supplier in the US, will tumble 28% this year to 38.2 million boxes, the smallest since 1943. A box weighs 90 pounds (41 kilograms). January’s freezing temperatures weakened groves, adding to lingering impacts from hurricanes, causing citrus trees to drop fruit early while plant disease left behind smaller oranges.

Source: bloomberg.com


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