Global Orange Juice Market Surges to New Heights Amid Supply Challenges

The global orange juice market has surged to unprecedented levels, priced at USD 5,390/mt in Oct-23. This marks a substantial 20% month-on-month (MoM) increase and a staggering 115% year-on-year (YoY) surge due to critical supply issues caused by the persistent greening disease in key-producing nations like Brazil, Mexico, and the United States (US). This incurable bacterial disease leads to premature fruit drop, deformed and bitter fruit, and diminished yields, ultimately resulting in the death of affected trees. Brazil, the source of over 75% of global orange juice supply, is facing near-zero juice stocks due to consistently declining inventories since 2020. With an increasing reliance on Brazilian orange juice from the US and robust demand in Europe, the market's supply struggles to match the soaring demand, consequently driving prices higher.