(New York) The price of orange juice soared on Monday, pushed by fears that the passage of the hurricane Ian reduce the harvest in Florida, one of the two major production regions in the United States.
Posted at 6:51 p.m.
The frozen concentrated orange juice futures contract for November delivery rose as high as $2.01 per pound (about 450 grams) for the first time in almost six years (December 2016).
the hurricane Ianwhich swept through Florida last week, could have caused a total of between 28 and 47 billion dollars in damage, according to an estimate by the specialized firm CoreLogic.
While in Florida, Ian notably passed through Polk County, the state’s leading orange-growing region.
“In areas of the ‘citrus belt’, the large citrus-growing region located in southern Florida, “many fruits have fallen from their trees,” said the Florida Federation of Agriculture offices.
The transition from Ian took place in September, when orange picking begins, which lasts until June depending on the areas and varieties.
“Our first observations have revealed significant fruit falls,” said Alico, one of the two orange giants in Florida, with the group of Texas origin King Ranch, in a press release.
“Referring to previous episodes of storms,” Alico continued, “we expect it will take at least two seasons for orchards to return to pre-hurricane production levels. »
The longtime top orange-growing region of the United States, Florida ceded its throne to California this year after being hit by so-called yellow dragon disease, also known as Huanglongbing disease (HLB), which can disrupt the ripening of citrus fruits and cause the fruit to drop prematurely.
It is carried by the psylla, a tiny insect vector of a bacterium, which causes the yellowing of the leaves, then the deformation of the fruits, until it affects the whole tree, due to the narrowing of its vascular system.
Affecting Florida for the first time in 2005, it contaminated almost all of the state’s orchards. There is no known treatment for this disease.
Production in Florida for the 2021-22 season, which ended in June, was down 23%. California had provided 55% of production, against 44% in Florida.