Widespread cold weather has had a significant impact on the price of orange juice.
Florida (WiredPRNews.com) – The freezing temperatures felt across the nation has impacted more than just the morning workday commute. As reported by the Associated Press (AP), the extended freeze has affected crop production in Florida, and caused the price of orange juice to rise.
Richard Feltes, with MF Global, is quoted by the AP as stating of the price increase, “This is purely weather driven.” Frozen juice concentrate prices have reportedly increased to their highest levels in two years.
The artic weather is expected to continue through the weekend throughout the south, which will continue to present issues for citrus crops. As noted in the report, the Florida governor has signed an order to assist farmers due to the challenges presented by the weather.
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