Orange juice prices are going through the roof — forcing some makers to consider alternative fruits
Publishing timestamp: 2024-05-30 03:29:02
Summary
Orange juice prices have been climbing rapidly due to declining output in Florida and extreme weather in Brazil, leading to record highs. Manufacturers are considering alternative fruit juices due to supply constraints. Climate change and citrus disease are also impacting orange production. Prices are expected to continue rising due to drought, disease, and demand. Benchmark orange juice futures contract is expected to reach $5.16 per pound.
Sentiment: NEGATIVE
Tickers: @OJ.1,
Keywords: commodity markets, united states, breaking news: markets, orange juice markets, markets, orange juice (mar'23), california, business news, florida, brazil, climate,