Hurricane Ian is poised to ravage Florida’s orange crop as it tears across the state, flooding the state’s groves and ripping fruit off branches. Not only will it drive up the cost of juice for consumers, but may drive farmers struggling against disease and real estate development out of business.
About 90 per cent of the crop belt in the top US producer of orange juice is in Ian’s path, including the three top-producing counties in the state, according to Donald Keeney, Maxar Technologies meteorologist.Futures prices soared for a second day as the storm’s track shifted east to cover more of the region, on mounting concern that the harvest will take a huge hit once all the damage is revealed in coming days.
“There’s not a thing in the world you can do to protect crops,” said Raymond Royce, executive director at Highlands County Citrus Growers Association in Sebring, Florida. “All the areas are going to have impact. It could be the final straw for some Florida growers.” The hurricane represents a fresh blow to growers in Florida already contending with a devastating disease called citrus greening that damages fruit and eventually kills trees.
Further devastation of the Florida crops could further increase the need for the US to import fruit at a time when supply is very tight all over. The US, which accounts for roughly 11.5 per cent of global production, needs to bring in 65 per cent of its consumption. Stockpiles in top producer Brazil are at the lowest since 2017.
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Source: FinancialReview - 🏆 2. / 90 Read more »
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