Orange Juice Climbs as Hurricane Milton Shrinks Florida Crop
- Consultant expects over 3 million boxes were lost due to storm
- Global supplies are tight after extreme drought in Brazil
More than three million boxes of oranges may have been lost since the powerful storm moved through key citrus-producing counties last week.
Photographer: Chip Chipman/BloombergThis article is for subscribers only.
Orange juice futures rose for a second straight day as production in Florida is seen shrinking after Hurricane Milton knocked fruit from branches and left citrus trees lying on the ground.
More than three million boxes of oranges may have been lost since the powerful storm moved through key citrus-producing counties last week, industry consultant Judy Ganes said. That means the next Florida harvest will likely turn into the worst since the late 1920s, she added.