Orange juice prices reach near-record levels due to Brazil's worst harvest in 36 years and Florida's low production.
Orange juice prices set to hit near-record levels due to Brazil's worst harvest in 36 years, triggered by excessive heat, citrus greening disease, and existing low production in Florida. This results in a 24% decrease in Brazil's orange yield since 1989 and a surge in concentrated OJ futures by 5%. Severe weather conditions and high consumer demand contribute to record high prices in the market.
May 13, 2024
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