US (FL): Jackpot for citrus growers who held back
Farm prices for oranges have increased about 20 percent from October levels following a reduction of 8 million boxes in the U.S. Department of Agriculture's Florida orange crop estimate released this week.
Most of the reduction, 7 million boxes, came in the early and mid-season orange varieties harvested from October to March. The USDA now projects the highest drop rate in early-mid oranges in 43 years.
"All eyes are on the late oranges — do they follow suit?" said Kyle Story, vice president of The Story Cos., a Lake Wales-based grower. "I think that's what everybody's worried about."
Story and Jay Clark, a Wauchula-based grower and member of the Florida Citrus Commission, agreed growers feel the 2012-13 season has been the worst for premature drop in memory.
"This is a phenomenal drop," Clark said. "It's the worst I've ever seen, and most growers are saying it's the worst they've seen."
Source: newschief.com
