Orange juice prices skyrocket due to unprecedented drought in Brazil

Published 2024년 6월 4일

Tridge summary

The price of orange juice has skyrocketed, reaching $6,500 per ton in American markets—a 70% increase from last year and a 300% rise over two years. This surge is due to drought and yellow dragon disease impacting the Brazilian harvest, resulting in a 20% reduction from an already poor previous year's yield. Futures contracts for frozen concentrated orange juice have also soared, with wholesale prices quintupling since the Covid-19 pandemic began. The situation is worsened by the lowest harvest levels in 36 years, especially in Brazil's key growing regions like Sao Paulo, and ongoing concerns about the spread of Huanglongbing disease.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On the shelves, consumers can't believe it. The price of a bottle of organ juice is reaching new heights. Even private label brands are not spared from this surge with prices that exceed 2.80 euros. This year, the price of a ton of orange juice reached $6,500 on American markets, a figure up 70% compared to last year. In two years this product, one of the most consumed in the world, has increased by 300% and since 2020, wholesale prices have quintupled in the United States. Blame it on drought and yellow dragon disease which reduced the Brazilian harvest. “All these cumulative phenomena mean that this year we should have had a normal harvest, but it is in fact 20% below last year's harvest which was already not a good harvest,” Emmanuel explains to BFMTV Vasseneix, president of the National Interprofessional Union of Fruit Juices (Unijus). According to the president of Unijus, today there is a lack of "the equivalent of European consumption of orange juice from concentrate". ...

Source: Bfmtv