Orange prices could be on the rise as Florida’s citrus groves recover from the devastation of Hurricane Ian. The state’s orange crop this year will be nearly a third smaller than last year — one of the smallest in decades — according to the USDA.
California is projected to surpass Florida as the top orange producer in the country for the 2022-2023 harvest, according to Wednesday's report.The forecast for all Florida oranges for 2022-2023 is 28 million boxes, compared to 41 million in 2021-2022, down from 67.4 million boxes in 2019-2020.
California is projected to produce nearly 62% of the nation's oranges with 47.1 million 80-pound boxes, up from 40.4 million last year but down from 54.1 in 2019-2020.is forecasted at 76.3 million down from 81.7 million last year and 122.8 million in 2019-2020.orange juice futures rose as much as 0.8% to $1.92 a pound, a 50% increase in the last 12 months,
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