date:May 21, 2021
Front-month orange juice prices on the Intercontinental Exchange (ICE) rose by 5% month-on-month to USD 1.15/lbs on the 13th May 2021. The price increase can be attributed to tighter orange supplies in recent weeks in the US and Mexico.
The USDA expects Floridas 2020/21 orange crop to be 3.8 million boxes lower than the previously estimate (51.7 million boxes). This would be 23% lower than last seasons final production. Market participants say the high drop rate for the Valencia variety may be