Orange Juice Prices Surge to $476 per Pound Amid Adverse Weather and Crop Diseases in Brazil

May 29, 2024, 08:34 AM

Orange juice prices have surged to record highs, driven by adverse weather conditions and crop diseases in Brazil, the world's largest exporter. As of now, orange juice prices have reached $476 per pound, up from $207 at the beginning of 2023 and $146 at the start of 2022. Concentrated orange juice futures have also hit $4.92 per pound, nearly double the price from a year ago. Crippling shortages and rising prices are expected to impact consumers significantly and could fundamentally reshape the global orange juice industry, leading to a shift towards other fruit juices.