Orange Juice Shortage on the Horizon

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Florida is facing its worst orange harvest in a century according to reporting from The Guardian. Effected by disease and recent hurricanes, orange harvests are projected to be down as much as 14% from 2015. Orange juice futures are already trading at nearly double the price from last year as market analysts react to reports from the USDA. Many farmers in Florida are worried about their futures as they face a very bleak harvest this year, but the Florida Citrus Mutual cooperative offered a statement to reporters indicating that some farmers were holding onto a rosier outlook. Approximately 62,000 people are employed in one way or another through orange harvesting in Florida, so only time will tell what the wide-reaching impacts of this will be.

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