Brazil expects stable orange prices despite boom -

Brazil expects stable orange prices despite boom

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Brazil expects stable orange prices despite boom

Orange prices are expected to remain stable this year, despite forecasts Brazil and the U.S. will likely boost output significantly, reported Diário do Comércio & Indústria.

A recent United States Department of Agriculture (USDA) report estimated Florida - the second-largest growing region in the world - would produce 142 million cases of oranges this year, while Diário do Comércio & Indústria reported the Brazilian region of Sao Paolo's production would rise to 325 million cases.

The story said the growth should help rebuild inventories without affecting orange prices, after a year of gains for growers in 2010 with prices rising by more than 100%.

"'We're seeing we left 2009 from a terrible period, from US$3.50 to US$5 a box, to a period in 2010 where we were paid US$15. You can imagine that in 2011 these prices will remain, depending on the contract, but prices are already much better than in 2009," CitrusBR president Christian Lohbauer told the newspaper.

In February Brazilian news agency Emissoras Pioneiras de Televisão (EPTV) reported orange seeds were in such high demand that farmers could expect one-year waiting lists.

Related story: Brazil's orange seed demand skyrockets


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