The price of orange juice for future delivery in America increased significantly this week due to several issues including fungicide, disease, and freezing weather. The asking price for one pound of orange juice for March delivery hit an all-time high record at $2.1065, as reported by businessweek.com. The previous record for the most expensive orange juice occurred on December 7, 2006, at $2.094 per pound.
First, America’s Food and Drug Administration (FDA) is working hard to test imported orange juice from Brazil due to mounting concern with banned fungicide carbendazim. One week ago, the agency was alerted as they found juice imports that may contain carbendazim. This type of chemical could be linked to liver tumors as tested on labs animals.
Second, citrus greening disease had damaged many orange trees in Florida. The Southern state in America is well known as the world’s number two grower. Then, the same disease appears to transfer to Texas early this week as experts have confirmed finding some type of citrus greening in the largest state in America.
Third, several Western states in America, including Northern and Central California as the top citrus-growing region, are facing artic freezing weather this week. Cooler temperatures could bring high risk of frost in the region.