The recent six-month average price (Mar 19-Aug 19) of Brazilian orange juice dropped by 6% compared to the previous six-month average (Sep 18-Feb 19), driven by plunging exports from the country in the 2017/18 season. Similarly, the average price of US orange juice declined 20% over the recent six-months (Mar 19-Sep 19) compared to the previous six months, due to rising production in Florida. A significant share of Florida’s orange production goes for processing.
Orange production in the US and Brazil for the 2019/20 season is foreseen to expand, following favourable growing conditions in both countries. Therefore, the 2018/19 orange juice production in Brazil and the US is estimated at 1.4m tonnes and 327,000 tonnes, up 39% y-o-y and 75% y-o-y respectively.
From weather to political, all the factors impacting the orange juice market have been analysed to provide a market outlook for the next six months. Mintec’s market outlooks (schedule) provide insights on factors shaping the market dynamics of various commodities, providing the opportunity for market participants to stay ahead of factors that will impact procurement decisions.