Orange juice prices hit all-time high due to meagre production outlook

Yesterday, orange juice prices rose to the highest since future contracts started trading in New York in 1966. The reason for this rise was the limited production outlook in the United States, Brazil and Mexico, which boosted investors' interest in the product.

The January contract of frozen concentrated orange juice (FCOJ) on the Intercontinental Exchange hit an all-time high of $4.17 per pound during the session, before dropping back to $3.83 per pound.

Source: reuters.com