Global industry ‘in crisis’ as fears about Brazilian harvest help push wholesale prices to record highs
Orange juice makers are considering turning to alternative fruits such as mandarins as wholesale prices have “gone bananas” amid fears of poor harvests in Brazil.
Prices of orange juice concentrate reached a new high of $4.95 (£3.88) a lb on futures markets this week after growers in the main orange producing areas of Brazil said they were expecting the harvest to be 24% down on last year at 232m 40.8kg boxes – worse than the 15% fall previously predicted.
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