Oranges don’t like ice cream
The combination of extreme weather and disease will have a major impact on the production of oranges in Florida. There were freezes in January as the mercury dipped to -4 degrees in central Florida. The maximum did not even exceed 10 degrees for a few days, while on average it is barely below 20 degrees.
Ian and Nicole hit it hard
Then, hurricanes Ian and Nicole hit several orange groves in the U.S. sunshine state. Ian is the one who did the most damage hitting the center of the state, where the production of oranges is the most important. Finally, yellow dragon disease, a bacterium that destroys the leaves of orange trees, is gaining ground.
Ten times fewer oranges
Florida has already produced up to 244 million boxes of oranges per year. This season, production should be barely 20 million, a drop of 51% compared to last year. This would be the lowest production since 1937. Result: yes, orange juice will cost more this winter. Moreover, on the stock markets, speculation on its price has risen by 42%. The impact for consumers should be felt within three to six months.