Orange juice squeezed by Brazilian drought

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Financial Times 14h ago

Orange juice squeezed by Brazilian drought - Financial Times

Quick Summary:

Brayan Palhares, a citrus grower from São Paulo state, said that 2024 was the worst in terms of productivity since his father started growing oranges in 1970.

The IFU and others are calling for legislative changes that would allow orange juice makers to use other more climate-resilient fruits, such as mandarins, without changing the name of their products.

For soft-drink companies, which use the futures market to try to hedge against big price moves and are having to stomach the higher costs, the situation is “extremely dire”, said Harry Campbell, analyst at Expana.“They’re just like ‘we don’t even know what to do.