Orange Juice Jumps to Highest Since May 2007 on Florida Freeze
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Orange-juice futures jumped to the highest since May 2007 after Florida, the world’s second-biggest citrus grower, declared a state of emergency amid severe cold and the prospects of crop damage.
Governor Charles Crist said “extreme temperatures” threaten the state with a “major disaster.” Some areas may be subject to freezes through Dec. 15, Crist said in a statement on Dec. 10, citing National Weather Service forecasts. Prices jumped as much as 6.2 percent.