Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Florida Orange Crop to Jump as Groves Rebound, Transworld Says

Aug. 10 (Bloomberg) -- The orange crop in Florida, the world’s second-largest producer, may increase 22 percent over the next year as groves recover from a freeze in January, said Jimmy Tintle, an analyst at Transworld Futures.

Output may jump to 163 million boxes in the harvest that begins in October, compared with a three-year low of 133.6 million in 2009-2010, said Tintle, who accurately predicted the crop decline in January. The new forecast is based on visits to citrus groves and interviews with growers, he said.

“We had plenty of moisture, and the frost in January didn’t affect the new crop as much as people had expected,” Tintle said by telephone today from Tampa, Florida. “Trees are loaded with fruit, and the fruit size is good. That’s going to increase box count.”

Orange-juice futures have surged 27 percent in the past year, touching a two-year high of $1.53 a pound on March 8, after the worst cold snap in more than 20 years damaged about 5 percent of crop in Florida’s citrus belt in January.

The U.S. Department of Agriculture cut its forecast of the 2009-2010 crop to 129 million boxes in February. Since then, the department raised its estimate three times, citing a favorable mix of rain and sunshine. The harvest runs from October into July. A box of oranges weighs 90 pounds (41 kilograms).

Growers picked 162.5 million boxes in the 2008-2009 season and 170.2 million a year earlier, according to the USDA.

Orange-juice futures for September delivery fell 5.3 cents, or 3.7 percent, to close at $1.3895 as of 2 p.m. on ICE Futures U.S. in New York. Brazil is the biggest producer.

To contact the reporter on this story: Yi Tian in New York at Ytian8@bloomberg.net.

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.