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Orange Juice Rises to Record as Global Supply Concerns Mount

  • Futures in New York jump 67% in 12 months on crop woes
  • Brazil, Florida groves ravaged for years by tiny insect
Updated on

Orange-juice futures surged by the New York exchange limit to a record settlement as the citrus-greening disease shrinks the harvest in Florida, the world’s second-biggest citrus grower.

In Florida, collection of early and mid-season oranges -- or those that ripen from October through January -- is less than half of what it was this time last year, the U.S. Department of Agriculture’s statistics unit said Monday. At the same time, exports are shrinking from Brazil, the No. 1 grower, deepening global supply concerns.