Brazil, the world's biggest juice exporter, will export 1.7% less orange juice to the US compared to last year.
Orange juice has never been this expensive, with Bloomberg data showing futures hitting a record high Monday due to rising concerns about global supply from citrus greening, a crop disease, in Florida and Brazil.
Orange juice futures climbed 1.8% to $3.052 per pound around midday in New York.
Brazil, the world's largest juice exporter, is set to ship 1.7% less orange juice to the US this year, according to a July 20 report from the Department of Agriculture.
Disease concerns there as well as in Florida, the US' biggest orange hub, have put a damper on produce expectations.
Persons:
Judy Ganes, J, Nielson
Organizations:
Bloomberg, Service, Department of Agriculture, US, Ganes Consulting, Florida Department, Citrus, Federal
Locations:
Brazil, Florida, Wall, Silicon, Orange, New York