During the last week of September, the price of frozen orange juice fell by more than 9%. It is reported by The Wall Street Journal. By Friday, 09/28/12, the cost of the November futures for juice was 1,132 USD per pound, slightly retreating from 6-week low of 1,13 USD.
According to the publication, investors no longer afraid of the hurricane season, which normally lasts for 01.06 - 30.11. But, according to weather forecasts, in the next two weeks, the threat of hurricanes is expected.
In 2012 the price of juice, at the beginning of hurricane season, exceeding 1,4 USD per pound. Additional pressure on prices exerted and the total seasonal trade this year, which was only 3/4 of the figure for the past year.
In October 2005 the crop of oranges in Florida, the hurricane "Wilma", decreased by 13% to 24.4 million devyanostofuntovyh boxes. As a result, the cost for orange juice futures rose to a 7-year high.
At the beginning of 2012 the price of orange juice rose to a maximum late 1977. A sharp rise in prices contributed to concerns about the poor harvest in Florida because of the cold weather and the message of the American government on the possible ban supplies of concentrate and orange juice from Brazil.