U.S. orange juice imports from Brazil peak

U.S. orange juice imports from Brazil peak following Hurricane Ian

U.S. orange juice imports from Brazil peak following Hurricane Ian

Following Hurricane Ian’s destructive stride through Florida, the U.S. is stocking up on Brazilian orange juice, according to Ajot

Citrus groves in the region were severely damaged by the hurricane, thus the market’s need to find an alternative provider.

U.S. imports are up 58% year-on-year in the first four months of the season, hitting a record 112,500 metric tons by the end of October, according to Brazil’s Secretariat of Foreign Trade.

Hurricane Ian exacerbated a plunge in orange juice production in Florida, with citrus greening disease being another major concern. The sickness had already left the Sunshine State with the lowest crop in 79 years this season.

Consumer prices of the beverage are expected to rise to cover import costs. Developed economies such as the U.S. and Europe are expected to see a 20% to 30% increase in the item’s value by the beginning of next year, Rabobank analyst Andres Padilla said in a November report.

Brazil is currently the world’s top exporter of orange juice, according to Ajot.

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