• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Why orange juice is so expensive
Editor's Pick

Why orange juice is so expensive

by August 1, 2024
by August 1, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

U.S. orange production has plummeted as the industry faces volatile threats from extreme weather events, an incurable disease and economic pressures.

Citrus growers are losing millions of dollars every year, according to the United States Department of Agriculture. 

At the same time, orange juice futures have hit record highs.

“Citrus production in the United States [is a] pretty dire situation right now,” Daniel Munch, economist at the American Farm Bureau Federation, told CNBC. “When you have a lack of supply that’s unable to meet demand, prices for consumers shoot up.” 

Florida has seen a dramatic orange production decline in recent years. According to the USDA, there were over 658,000 orange acres in Florida in 1998. As of 2023, there were just over 303,000 acres of oranges planted in Florida, or a total acreage drop of more than 50% in just 25 years.

A large part of the problem can be traced to the spread of citrus greening disease, which is considered to be one of the most serious plant diseases in the world that is currently incurable.

“When citrus greening starts to enter the grove, it reduces the productivity of those trees, ultimately forcing them into death, and then therefore removal from the grove,” Amy O’Shea, CEO of Invaio Sciences, an agricultural sciences company, told CNBC.

The problems plaguing citrus production are not easily remedied as climate change has made extreme weather more common and scientists have yet to come up with scalable citrus greening treatments.

Some of the key research areas include fruit breeding for citrus greening-resistant varieties, antimicrobial treatments and other pest control solutions, like crop covers. 

Invaio is one of the companies researching and developing treatments for citrus greening.

“We’ve developed a very unique precision delivery technology called Trecise, that we’re able to insert into the tree and deliver a very reduced amount of an antimicrobial, “O’Shea told CNBC.

When Trecise is inserted into a tree, the active ingredient goes into its vascular system as opposed to being applied outside of the tree, according to O’Shea.

In August 2023, Invaio’s Trecise received emergency approval for use from the Florida Department of Agriculture and Community Services.

The volatility of these threats may cut into citrus harvest expectations, which leads experts to believe that higher prices for orange juice are likely to remain, at least in the short term. 

This post appeared first on NBC NEWS
You Might Also Like
  • Southwest Airlines pauses corporate hiring, most summer internships to cut costs
  • GM lays off 1,000 employees amid reorganization and cost-cutting
  • June home sales slump as median sales price rises to $426,900
  • Peloton to start charging subscribers with used equipment $95 activation fee
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Israel says it killed top Hamas military commander Mohammad Deif
next post
Unbelievable! The Fed Creating Its Own Nightmare And We’re The Puppets

You may also like

Tiger Woods announces split with Nike, leaving brand’s ties to...

January 9, 2024

More than half a million portable device chargers sold at...

June 24, 2024

RTX, GE Aerospace expect more than $1 billion tariff impact

April 22, 2025

Temu halts shipping direct from China as de minimis tariff...

May 4, 2025

McDonald’s aims to open nearly 9,000 restaurants, add 100 million...

December 7, 2023

Silicon Valley Bank quietly laid off employees as tech firms...

March 16, 2023

Mars to acquire snack maker Kellanova in $36 billion deal

August 14, 2024

Here’s why business leaders are spending big on Trump’s inaugural...

December 25, 2024

Delta says Hollywood and auto strikes are denting business travel

October 13, 2023

People are losing more money to scammers than ever before....

August 12, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: As NIFTY Breaks Out, Change Of Leadership Likely To Keep The Index Moving

      June 28, 2025
    • 3 Stock Setups for the Second Half of 2025

      June 28, 2025
    • Fibonacci Retracements: The Key to Identifying True Breakouts

      June 27, 2025
    • All-Time Highs and An Upcoming Rate Cut: We’re Just Getting Started on This Move Higher

      June 27, 2025
    • How to Improve your Trading Odds and Increase Opportunities

      June 27, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,615 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,895 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,588 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,551 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,429 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,151)
    • Investing (538)
    • Stock (2,640)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: As NIFTY Breaks Out, Change Of Leadership Likely...

      June 28, 2025
    • 3 Stock Setups for the Second Half of 2025

      June 28, 2025
    • Fibonacci Retracements: The Key to Identifying True Breakouts

      June 27, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,151)
    • Investing (538)
    • Stock (2,640)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Biden administration sues to block Kroger-Albertsons...

    February 27, 2024

    Cut from projects, dropped by agents:...

    December 3, 2023

    Disney raises streaming prices for Hulu,...

    August 7, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here