Chandan Khanna | Afp | Getty ImagesOrange juice prices have climbed to fresh all-time highs amid persistent supply constraints, pushing the industry into crisis mode and forcing some makers to consider alternative fruits.
The benchmark frozen concentrated orange juice futures, traded on the Intercontinental Exchange in New York, closed at $4.77 per pound on Wednesday .
Orange juice on display in a grocery store on Jan. 19, 2023, in Miami, Florida.
"A lot of them will be changing the quantities of juice they are putting in their blends to drop the orange juice and increase other juices, such as pear juice, apple juice, grape juice, so they are less reliant on the orange juice," Campbell told CNBC via telephone.
"It does seem like this [situation] is going to be here for the longer term," he added, noting that some players in the orange juice market had observed a large drop in demand year-over-year.
Persons:
Chandan Khanna, That's, Joe Raedle, Harry Campbell, Campbell, Fundecitrus
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