Squeezed by global warming, Florida’s Orange Crop yield Drops To 1930s Lows
Hurricanes and other climate change-induced woes have cut Florida’s orange crop to its lowest level since the early 1930s. And with the Sunshine State accounting for about two-thirds of the U.S. annual total of the succulent citrus, the disaster means that orange and orange juice prices will jump.
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“The cut reflects an even dimmer situation for Florida’s citrus industry,” Bloomberg reports, which had been expected to produce fewer oranges even before Hurricane Milton tore through groves in mid-October.“ The crop has already been savaged by citrus disease and the effects of previous hurricanes.
One measure of the price of oranges to consumers is the Frozen Concentrate Orange Juice Continuous Contract. It has risen to $500 from $304 in January.
Other crops affected
The orange price problem is similar to the price increase in cacao and coffee during the climate crisis. Weather in western Africa, where almost 70% of cocoa is sourced, has damaged the crop for two years, leading to cocoa prices to rise to record levels this year. This has squeezed the margins of companies that sell chocolate and caused increased prices for consumers.
Meanwhile, dought in Brazil and floods in Vietnam have damaged coffee production, raising bean prices to multiyear highs.
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