Orange juice prices are going through the roof — forcing some makers to consider alternative fruits
Orange juice prices have climbed to fresh all-time highs amid persistent supply constraints, pushing the industry into crisis mode and forcing some makers to consider alternative fruits.
Orange juice prices have climbed to fresh all-time highs amid persistent supply constraints, pushing the industry into crisis mode and forcing some makers to consider alternative fruits.
Prices of the breakfast staple have been climbing rapidly in recent years, partly driven by declining output in Florida — the main producer of orange juice in the U.S. — and climate-fueled extreme weather in the main orange producing areas of Brazil.
The South American agricultural powerhouse is the world’s largest producer and exporter of orange juice, which means it plays a hugely influential role in shaping the global industry.
The benchmark frozen concentrated orange juice futures, traded on the Intercontinental Exchange in New York, closed at $4.77 per pound on Wednesday. That’s nearly double the price registered a year ago.
Harry Campbell, a commodity market data analyst at research group Mintec, said that soaring orange juice prices have forced manufacturers and blenders to adapt to the situation by considering alternative fruit juices.
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