Orange juice prices soar to new high as poor weather hits citrus crops
In one year, the wholesale price of orange juice has risen by almost 77 per cent. Since February 2020, when the COVID pandemic struck, it has increased fivefold, according to AFP. Some 85 per cent of the world market is divided between Florida and São Paulo. Brazil exports 99 per cent of its production. Consequently, the United States and Brazil set the market price for this popular breakfast fruit. Problems with production affect stocks and prices in Europe for consumers and we end up with more expensive orange juice, supplied in smaller quantities. The futures contract for frozen concentrate...