Orange Juice Prices Could "Increase Substantially" As Hurricane Pummels Florida's Top Citrus Grow Region [zero hedge]
Maxar Technologies Inc. (MAXR)
Last maxar technologies inc. earnings: 3/2 04:08 pm
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Source: zero hedge
Orange Juice Prices Could "Increase Substantially" As Hurricane Pummels Florida's Top Citrus Grow Region Hurricane Tropical Storm Ian could soon drive up orange juice prices at the supermarket as the powerful storm tears through the central-southwest part of the state where large citrus groves reside. Donald Keeney, a meteorologist at Maxar Technologies Inc., told Bloomberg that 90% of the state's citrus crop is in Ian's path, including three top-producing counties. " There's not a thing in the world you can do to protect crops. " All the areas are going to have impact . It could be the the final straw for some Florida growers ," said Raymond Royce, executive director at Highlands County Citrus Growers Association in Sebring, Florida. November orange juice futures contracts are trading as high as $1.90 per pound Thursday morning and have risen 7% since Monday. $2 per pound appears to be a multi-decade resistance level. On Monday, we pointed out OJ prices were set to rise due to the tr
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