International Price of Orange Juice on the Rise
The price per pound has climbed to $1.36, after a series of frosts affected orange plantations in Florida, U.S.
Thursday, January 21, 2010
Carlos Odio, head of Tico Fruit, one of Costa Rica's largest exporters of the product, added that the price has been rising since November, recording a high of $1.5 per pound on December.
The decline in the U.S. supply caused by the effects of a pest in plantations in Florida, creates opportunities for Central American producers.
The United States has zero tolerance for the presence of chemicals like carbendazim, detected in two shipments of orange juice exported from Costa Rica.
Current prices of around $2 per pound of solids, the highest prices since 2007, are consistent with market developments since that year and should remain at that level.
The value on the New York Stock Exchange is below the break-even point in production costs, estimated to be $0.90 per pound of solids.
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