In the 2023/24 season, Brazil observed a decline in the volume of orange juice exported from July to March, compared to the corresponding period of the previous season. Industry insiders attribute this downturn to the scant availability of the commodity within the national market, potentially curtailing export activities. Consequently, the prices for orange juice on the international market have seen an upward trend.
Forecasts for the season ending in June 2024 anticipate diminished stocks of orange juice, leading some industry participants to limit exports to avoid depleting reserves entirely by the season's close. Comex Stat data indicates a 7.7% reduction in exports, totaling 812.2 thousand tons, though revenue rose by 23% to USD 2.08 billion. Specifically, exports to the European Union decreased by 7.7% to 419.9 thousand tons, while revenue increased by 26% to USD 1.1 billion. Exports to the US fell by 4.4%, with revenue up 18% at USD 667.1 million.
The domestic market in São Paulo saw firm prices for Tahiti lime in March, attributed to limited supply due to rainfall impacting harvests, leading to a 55% price increase. Similarly, orange prices rose by 7% due to low supply and strong demand, driven by high temperatures.
Source: cepea.esalq.usp.br