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Food Industry News

Orange juice futures peaked

Futures on the frozen orange juice soared today on ICE (about 21: 16 Moscow time) over 5 2,35% to $ per pound (0,45 kg) - a historic high, according to the FT.

This is due to concerns about the emergence of the market shortage.

Last month, the US Department of Agriculture issued a forecast of the fall harvest oranges in Florida (the state is the largest producer of oranges in the country) to 14% - to its lowest level since the early 1960-ies. Harvest oranges in the United States suffered from a distributed bacterial disease insects - greening of citrus fruit.

"There was a wave of purchases," - said Jack Scoville of commodity brokers The Price Futures Group.

Frozen orange juice market becomes more speculative as the reduction of the volume of trade. Consumers are switching to fresh orange juice, and all began to drink less juice, analysts said.

As at 21: 38 Moscow time futures for frozen orange juice rose to 4,93 2,33% to $ per pound.

See also ... 02/10/2012 Orange juice has fallen in price by almost 10% over the week 12/09/2016 Orange juice has grown as much as possible in price 12/10/2016 The world is facing a shortage of oranges losing popularity in the USA16 / 10/2013 Orange juice rose to a maximum20 / 08/2014 Domestic juice production fell by more than 05% 08/2015/24 TBFruit Group launched a fruit processing plant in Poland on Russian juice 08/2012/10 AMK fined Sandora 02 UAH for unreliable information ju10 / 2013/23 Campbell Soup buys Bolthouse Farms07 / 2015/25 Ugra Food Company is ready to open a juice production plant in the Luhansk region / 11/12 In what packaging do Russians prefer to buy juice?

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