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The price of orange juice has risen sharply worldwide. The increase is due to bad weather and a disease that has hit nut trees in Brazil, the world’s largest orange exporter.
At least the Financial Times and the Financial Times have reported on the high price of orange juice. Reuters.
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In recent years, the production and quality of oranges have been lower than expected, and the prices have been high. Orange juice futures have been high since the end of 2022. At that time, hurricanes and cold waves hit Florida, the main citrus producing area. Now the pace of price increases has accelerated. The price of concentrated orange juice futures has almost doubled compared with the same period last year.
President of the International Fruit and Vegetable Juice Association (IFU). Keith Coors The Financial Times described He viewed the situation as a crisis and said he had never seen similar prices even due to previous severe weather events.
Often, juice producers can account for single-year poor harvests or flavor changes by blending frozen juice from previous years into the juice. Frozen juice has a two-year shelf life, and after several years of poor harvests, stocks have been depleted.
One solution is to blend more weather-resistant tangerine juice with orange juice. The IFU is considering allowing other citrus fruits to be used in orange juice, and this change should also be extended to food regulatory legislation.
Some juice producers have passed on already increased costs to consumer prices for orange juice. Industry experts estimate that the impact of higher prices and poor harvests will be felt over the next few years.
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