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Orange Juice Prices Could Increase Amid Lower Yield, Report Says

Orange juice prices could increase as Florida orange groves are seeing a lower crop yield this season.
Orange juice prices could increase as Florida orange groves are seeing a lower crop yield this season. Photo Credit: Pixabay/mac231

Orange juice prices could increase as Florida orange groves are seeing a lower crop yield this season. 

According to a January report from the United States Department of Agriculture's Agricultural Statistics Board, the 2021-2022 forecast of Florida oranges is 44.5 million boxes, which is 1.5 million fewer than the December forecast.

The USDA said if the forecast is realized, the final production will be 16 percent less than last year. 

ABC News reported that this lower yield could lead to higher prices, adding that prices are already high due to the COVID-19 pandemic.

According to CNN Business, demand for orange juice has significantly increased during the pandemic as the country faces an unusually small harvest this year.

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