Orange Juice Stuck in Worst Rout in Five Decades as Demand Sinks
Photographer: Getty Images
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Orange-juice futures in New York are heading for a 15th straight day of losses, the worst rout in records back to 1967.
U.S. demand for the juice has been weakening for years. Add that to a declining citrus crop in Florida, the top domestic grower, and you’ve got a recipe for shrinking investor interest as fewer people want to use futures to hedge. Prices have slumped about 17 percent this month.