Brazil warns of at least 50 percent drop in FCOJ inventories next year
With the Brazilian orange crop expected to decline 30 percent in 2018/19, CitrusBR is forecasting stocks of FCOJ equivalent to be between 55,900 MT and 154,700 MT by June 2019; the range is due to uncertainty at this point about juice yield. Ending stocks as of June 30, 2018 are anticipated around 305,986 MT.
USDA did not change projected 2017/18 orange production in today’s citrus report. The Florida Valencia crop is still seen at around 26.0 million boxes as harvest wraps up.
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