MOGI GUACU, Brazil — Orange juice prices have always been volatile, falling when bumper harvests create an oversupply of oranges and rising when frost or a hurricane knocks out fruit trees.
Orange farmer Oscar Simonetti examines his fruits, with some affected by citrus greening bacteria, at his plantation in Mogi Guacu, Brazil, Thursday, June 13, 2024. Brazil, the world's largest exporter of orange juice, has been affected by heatwaves, a lack of rainfall and an increase in citrus greening bacteria. In the U.S., Florida’s already diminished orange production fell 62% in the 2022-23 season after Hurricane Ian further battered a crop that was struggling due to an invasive pest.
Those price increases are turning off inflation-weary consumers. Orange juice consumption has fallen 15% to 25% in major global markets — including the U.S. and the European Union — over the last year, according to Rabobank, a Dutch bank that focuses on food and agriculture. Some companies are considering using alternatives to oranges in their products. Coldpress, a British juice company, introduced a mandarin juice product in February, citing the high price of regular juicing oranges.