Brazilian exports of orange juice have experienced a decline in the 2023/24 market year, a situation anticipated by sector agents due to limited domestic supply. This information comes from the Center for Advanced Studies in Applied Economics (Cepea) at Esalq/USP. Comex Stat data indicates that from July 2023 to April 2024, Brazil's orange juice exports amounted to 869.9 thousand tonnes (in concentrate equivalent), which represents an 8.5% decrease compared to the same period in the previous year.
Despite this decrease in supply, the commodity's value has seen a significant increase. The 2023/24 harvest's revenue surged by 22%, totaling $2.25 billion. Cepea researchers have linked the decline in exports to the low production of oranges in São Paulo and Minas Gerais. They also expect that juice shipments will continue to be limited in the next harvest period, starting in July 2024.
Source: datamarnews.com