Updated
Updated · Bloomberg · May 8Orange juice futures surge on weaker Brazil harvest outlook
12 articles · Updated · Bloomberg · May 8
- In New York, the most-active contract jumped 5.8% and hit the exchange daily limit, rising 10 cents to $1.8320 a pound.
- The move was the biggest intraday gain in more than a week, reflecting concern over tighter orange supplies from Brazil.
- Brazil is the world's top orange juice exporter, so expectations of a 13% drop in its harvest can quickly lift global benchmark prices.
As Brazil's harvest fails, is the world's OJ supply chain broken beyond repair? Can gene-editing and fruit substitutes rescue the global orange juice supply?