Florida’s citrus industry isn’t the only one with a decreasing citrus crop; the latest numbers out of Brazil show a shrinking crop.

 

The latest numbers for Brazil’s citrus crop show a shrinking harvest, according to a report on the Citrus Industry Magazine’s website. It also explained how dropping citrus crop numbers are affecting the global citrus market. Read it summarized below.

Brazil’s Citrus Crop

 

The most recent estimates of Brazil’s citrus crop put the country’s citrus harvest at 244 million boxes. According to the report, the forecasts for Brazil’s 2017 citrus crop:

  • Put the yearly harvest at 18% lower than last season.
  • Are 2% smaller than September’s forecast.
  • Predict the smallest citrus crop in the last 25 years.

The report maintains that hot weather in October and November of 2016 affected the citrus crop’s size. The report said prices reached a record $6.50 a box and even $8.50 in some cases due to low supply.

Global Effects

 

The report explains that Brazilian exports to Europe and Asia have increased, but have also decreased to the U.S., making Brazil’s exports the same. However, a lower supply, both in Brazil and Florida, are driving prices up globally. The piece reported that prices reached $2,700 per ton, another record as the highest prior price was $2,432 per ton in December 2006.

Retailers and bottlers are still buying citrus despite the high prices, and the price increases have yet to affect consumer prices. However, the article’s author, Marcos Fava Neves, a professor at the University of São Paulo (Brazil), and international adjunct professor at Purdue University (Indiana), believes it’s only a matter of time before consumer prices go up if citrus crop production doesn’t increase.

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