The US is buying a record amount of Brazilian orange juice to make up for lost production from Florida. According to industry group CitrusBR, imports from Brazil surged to a record in the twelve months ended in June. The jump is a 55% increase from a year ago. It was the result of Hurricane Ian and a citrus-killing disease devastated Florida’s orange crop, making it the smallest in over 80 years.
Demand for Brazilian juice should remain strong for the next 12 months, said Ibiapaba Netto, executive director at CitrusBR. “Even if the next Florida crop shows some slight recovery, production levels are already set to be very low.”
Source: bnnbloomberg.ca
