Orange Juice Makers Consider Using Other Fruits After Prices Go ‘Bananas’
June 11, 2024 | 1 min to read
Amid fears of a poor harvest in Brazil, wholesale prices for orange juice concentrate have skyrocketed to a record high of $4.95 per pound, driven by a projected 24% drop in production. Consequently, orange juice makers are exploring alternative fruits like mandarins to cope with the escalating costs, causing prices to “go bananas.” The situation has intensified concerns within the global industry, indicating a significant crisis affecting orange juice supply.
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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