Orange crop is set to be the smallest since WWII, sending OJ prices surging
CNN
Oranges are in trouble. Citrus disease and bad weather are constraining supply of oranges in the United States and internationally. Meanwhile, demand for orange juice — which has been sliding for years — got a bump during the pandemic.
Citrus disease and bad weather are constraining supply of oranges in the United States and internationally. Meanwhile, demand for orange juice — which has been sliding for years — got a bump during the pandemic.
That has sent orange juice prices higher during the pandemic, and they will probably continue to climb: Frozen orange juice futures have surged more than 50% during the pandemic, and they rose to a two-year high last week — soaring 5% alone Thursday.
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