Shoppers face higher orange juice prices as futures hit another record
Publishing timestamp: 2023-09-27 10:51:03
Summary
Orange juice future prices have reached a record high of $3.69 per pound due to hurricanes and bad weather reducing Florida's crop to its lowest level in nearly 80 years. This price increase adds to the higher prices seen in other grocery store items, such as raw sugar and cocoa, despite a slowdown in inflation. The decrease in orange juice production is attributed to the impact of hurricanes and bad weather in Florida, as well as crop difficulties in other exporting countries.
Sentiment: NEGATIVE
Tickers: PEP,
Keywords: weather, breaking news: business, pepsico inc., mexico, retail industry, economy, food and drink, breaking news: economy, united states, business news,
Source: https://www.cnbc.com/2023/09/27/orange-juice-futures-reach-record-high.html