The orange juice sector is currently encountering significant obstacles, with projections painting a grim picture for juice producers due to shortages of oranges, increased prices, and a decrease in market presence. Circana, a market research firm, has highlighted the repercussions on both private label and branded products, cautioning about the tough road ahead.
Reasons Behind Orange Shortages
The availability of oranges is diminishing, primarily due to adverse weather conditions and disease outbreaks affecting major producers like the US and Brazil. In 2022, Florida faced crop damage from a hurricane, while Brazil grappled with a severe drought and citrus greening disease. Consequently, orange prices have surged, with frozen orange juice futures prices spiking by 65.4% compared to the previous year.
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