date:Aug 23, 2023
year (MY). The US has increasingly turned to Brazil as the US orange crop has been devastated by extreme weather and greening disease in recent years. According to USDA data, orange juice production in the US has dropped by 47% for 2022/23 MY compared to 2021/22 MY, further tightening the global supply and demand scenario that continues to drive prices upwards.
Market sources report that major European retailers are wary of committing to contracts at these elevated price levels. The Mintec Ben