Florida’s orange juice production slides to lowest level since 1930s
Department of Agriculture released alarming forecast for citrus industry
(ZEROHEDGE) – The U.S. Department of Agriculture has released an alarming new forecast for Florida’s citrus industry. The latest projection indicates orange production for the current season will total around 12 million boxes – the lowest since 1930 – according to Bloomberg, citing the new USDA report.
A devastating hurricane this fall has compounded the damage already inflicted by citrus greening disease, a bacterial infection that has decimated groves over the past decade.
Orange juice futures have surged to $5 per pound, a staggering 433% increase from the Covid-era lows of around $1 per pound. Worsening supply constraints could squeeze prices even higher.
Originally Published at Daily Wire, World Net Daily, or The Blaze
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