South Korean Orange Prices up 35.67% YoY Due to 75 Year Low US Harvest

The wholesale price of navel oranges in South Korea stood at USD 3.27/kg W1 of May 2022 which is 35.67% higher YoY. Prices increased due to the very low orange harvests in the US state of Florida. Orange production in the US is forecast to have the smallest orange crop since 1945, down 28% compared to the 2020/21 season. South Korea can look to South Africa and Australia for alternative sources as both countries are entering their orange production season during May and are expecting good harvests.