Latest news with #BillCastle
Yahoo
01-04-2025
- Business
- Yahoo
Florida's orange juice industry squeezed by disease, hurricanes as orange crop hits 95-year low
March 31 (UPI) -- Florida's orange juice industry is getting squeezed by hurricanes, citrus disease and changing consumer tastes as the state reveals what is expected to be its smallest crop in 95 years. Florida's crop for the 2024-2025 season is predicted to be the smallest since before World War II, with orange juice consumption plummeting more than 50% since 2000, according to new data from the U.S. Department of Agriculture. The most recent forecast for the season is 522,000 tons, which is down 35% from last season's total of 808,000 tons due to weather events and ongoing citrus disease. "Citrus greening is still an existential threat to Florida's orange juice production," according to Bill Castle, Florida citrus expert. "We're losing trees faster than we can replant them." In October, Hurricane Milton tore through the Florida peninsula and destroyed millions of dollars of prime citrus-producing land. The storm blew fruit off branches and damaged trees. "Regardless of how this season overall ends up, regardless of what the ultimate loss of fruit is in this season, it'll be a multi-year process for these trees to get back to pre-hurricane production. That's how trees react to stress, and it's very difficult than row crops that you plow under at the end of year," Matt Joyner, executive vice president and chief executive officer of Florida Citrus Mutual, the state's largest citrus growers' trade association, told UPI in October. Brazilian growers are seeing their citrus production rise this year with improved rainfall since October, which has created more global competition. While the orange juice industry in the United States faces an uncertain future, citrus prices at grocery stores have started to drop as market forces help to ease pressure. Overall, juice brands have watched earnings fall with industry leader Tropicana saying it has "experienced depreciation in its value due to the evolving market and declining demand for orange juice."
Yahoo
27-03-2025
- Business
- Yahoo
Florida's orange juice industry faces decline amid consumer shifts, climate challenges
The Brief Orange juice consumption has plummeted over 50% since 2000, with Florida's orange crop facing a 30% decline for the 2024-2025 season due to citrus greening, hurricanes, and shifting consumer tastes. Despite this, some market forces are easing pressure, with prices dropping in stores. Brazil's citrus production is recovering, potentially offering global competition. ORLANDO, Fla. - Orange juice consumption has plummeted over 50% since 2000, with Florida's orange crop facing a 30% decline for the 2024-2025 season, new data shows. What we know Orange juice, once a staple in American households, is experiencing a significant decline in popularity. The U.S. Department of Agriculture predicts Florida's orange crop for the 2024-2025 season will be the lowest since before World War II, with a 30% drop from the previous year. Despite this, some citrus prices at grocery stores have started to drop, indicating that market forces may be helping ease pressure on the industry. What we don't know It is unclear how the industry's long-term future will unfold, especially with the continued threats of climate change and the spread of citrus greening. The exact impact of declining demand and external factors on individual growers, such as those in Florida versus other regions, remains uncertain. The backstory The decline in orange juice consumption has been ongoing for decades, with research showing more than a 50% decrease in consumption since 2000. The industry has been heavily impacted by several challenges, including hurricanes, trade wars, and the widespread citrus greening disease, which has significantly harmed crops. The financial difficulties of iconic juice brands like Tropicana highlight the broader challenges faced by the industry. Big picture view The decline in orange juice demand is a significant issue for Florida's citrus industry, which has been hit by a combination of natural disasters and ongoing disease. Additionally, the declining popularity of orange juice, driven by changing consumer tastes and health concerns, is impacting the state's economy. Meanwhile, international markets, such as Brazil, are recovering, possibly providing a competitive edge. Timeline The USDA estimates Florida's orange crop for the 2024-2025 cycle will hit levels not seen since World War II. Meanwhile, Brazilian growers are seeing improved rainfall since October 2024, which could indicate a recovery in their production by the 2024/2025 season. What they're saying Bill Castle, Florida citrus expert: "Citrus greening is still an existential threat to Florida's orange juice production. We're losing trees faster than we can replant them." Tropicana Quarterly Report: The company has experienced depreciation in its value due to the evolving market and declining demand for orange juice. Brazil Agricultural Report: "The citrus belt is in need of further irrigation. However, with regular rains since October 2024, there is hope for a production recovery in the 2024/25 cycle." STAY CONNECTED WITH FOX 35 ORLANDO: Download the FOX Local app for breaking news alerts, the latest news headlines Download the FOX 35 Storm Team Weather app for weather alerts & radar Sign up for FOX 35's daily newsletter for the latest morning headlines FOX Local:Stream FOX 35 newscasts, FOX 35 News+, Central Florida Eats on your smart TV The Source This story was written based on reporting by FOX Weather.
