UK: Shortage from Spain affects orange prices
summary：Data from commodity analysts Mintec shows that EU orange prices have risen 13per cent year-on-year to reach an 18-month high of £70 ( euro 97.99 at the end of July....
Data from commodity analysts Mintec shows that EU orange prices have risen 13per cent year-on-year to reach an 18-month high of £70 ( euro 97.99 ) at the end of July.A lack of rainfall earlier in the season and record temperatures across Europe in June and July, including Spain's main orange-producing region of Valencia, have reduced fruit yield
The report says that lower production expected for the coming November harvest -- forecast to fall 14per cent to 5.7 million tonnes compared with the previous season -- is a chief driver.
'As a result, orange juice production in the EU is forecast to be 18per cent down from last season at 91,000 tonnes.'
Experts warn that smaller companies relying on whole oranges to produce freshly squeezed products could still be hard hit.