• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Why orange juice is so expensive

by August 1, 2024
written by August 1, 2024

U.S. orange production has plummeted as the industry faces volatile threats from extreme weather events, an incurable disease and economic pressures.

Citrus growers are losing millions of dollars every year, according to the United States Department of Agriculture. 

At the same time, orange juice futures have hit record highs.

“Citrus production in the United States [is a] pretty dire situation right now,” Daniel Munch, economist at the American Farm Bureau Federation, told CNBC. “When you have a lack of supply that’s unable to meet demand, prices for consumers shoot up.” 

Florida has seen a dramatic orange production decline in recent years. According to the USDA, there were over 658,000 orange acres in Florida in 1998. As of 2023, there were just over 303,000 acres of oranges planted in Florida, or a total acreage drop of more than 50% in just 25 years.

A large part of the problem can be traced to the spread of citrus greening disease, which is considered to be one of the most serious plant diseases in the world that is currently incurable.

“When citrus greening starts to enter the grove, it reduces the productivity of those trees, ultimately forcing them into death, and then therefore removal from the grove,” Amy O’Shea, CEO of Invaio Sciences, an agricultural sciences company, told CNBC.

The problems plaguing citrus production are not easily remedied as climate change has made extreme weather more common and scientists have yet to come up with scalable citrus greening treatments.

Some of the key research areas include fruit breeding for citrus greening-resistant varieties, antimicrobial treatments and other pest control solutions, like crop covers. 

Invaio is one of the companies researching and developing treatments for citrus greening.

“We’ve developed a very unique precision delivery technology called Trecise, that we’re able to insert into the tree and deliver a very reduced amount of an antimicrobial, “O’Shea told CNBC.

When Trecise is inserted into a tree, the active ingredient goes into its vascular system as opposed to being applied outside of the tree, according to O’Shea.

In August 2023, Invaio’s Trecise received emergency approval for use from the Florida Department of Agriculture and Community Services.

The volatility of these threats may cut into citrus harvest expectations, which leads experts to believe that higher prices for orange juice are likely to remain, at least in the short term. 

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Nifty continued to rise to new higher levels this week
next post
US Presidential Election: Harris, Trump & Debate

related articles

U.S. foreign tax bill sends jitters across Wall...

May 30, 2025

Amazon taps Xbox co-founder to lead new team...

May 30, 2025

Nvidia results spark global chip rally

May 30, 2025

Boeing to resume airplane deliveries to China next...

May 29, 2025

E.l.f. Beauty to acquire Hailey Bieber skin care...

May 29, 2025

Dick’s Sporting Goods stands by full-year guidance —...

May 28, 2025

Macy’s CEO says retailer will hike some prices...

May 28, 2025

23andMe to delist from Nasdaq, deregister with SEC

May 28, 2025

Walmart fined for shipping realistic toy guns to...

May 28, 2025

Why Trump’s iPhone tariff threat might not be...

May 25, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Spread Betting vs CFD: Key Differences

    July 25, 2024
  • House Weaponization panel releases 17,000-page report exposing ‘two-tiered system of government’

    December 20, 2024
  • USDCAD and USDCNH: USDCAD erased last week’s losses

    September 3, 2024
  • Starbucks barista strike expands as workers demand pay raises

    December 26, 2024
  • The confirmation juggernaut: How Trump is getting everything he wants in building his Cabinet

    February 10, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,735)
  • Investing (624)
  • Stock (775)

Latest Posts

  • Dem senator who ditched Tesla to protest Musk refuses to call violence against cars ‘domestic terrorism’

    April 2, 2025
  • Here’s who Biden blames for his 2024 election loss, Trump divulges after private convo

    February 28, 2025
  • Iranian hackers ramp up digital attacks on US political campaigns

    September 8, 2024

Recent Posts

  • ‘Obama bro’ confirms claims in Clooney’s damaging op-ed on Biden’s mental fitness

    July 11, 2024
  • Opinion: Look to outer space for Trump’s Greenland playbook ambitions amid Russia, China Arctic advances

    February 6, 2025
  • US officials see fall of Assad as opportunity to force Iranian regime change

    December 12, 2024

Editor’s Pick

  • Parents of Hamas hostages urge Trump to be ‘tough with enemies and friends’ amid Israeli siege in Gaza

    May 1, 2025
  • SafeMoon and Litecoin: Litecoin continues to move bullish

    September 5, 2024
  • RNC delegates, guests make predictions about Biden’s political future amid reports he might exit 2024 race

    July 19, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock