Orange Juice Prices Skyrocketing

MOGI GUACU, Brazil (AP) — Orange juice prices have always been volatile and highly dependent on the weather. But the record-high prices the world is seeing for OJ right now may be on the table for a while. An invasive pest that has been killing Florida’s orange trees since 2005 also is spreading in Brazil, the world’s largest orange juice exporter. Extreme weather is another factor. This year’s orange harvest in Brazil is likely to be the worst in 36 years due to flooding and drought. Florida’s orange production fell 62% last year in the wake of Hurricane Ian. In the U.S., a 12-ounce can of frozen orange juice concentrate cost 42% more in April than a year earlier