FCOJ prices still pushing higher; FL maturity results
OJ prices reportedly pulled even higher in recent weeks on reports of tightening supply both in Florida and for key origin Brazil. The benchmark Nov-23 contract settled Tuesday, Sep. 12 at a fresh contract high of 331.50 cents per ps, up 13 percent YOY and nearly double its price of 166.70 cents a year ago.
USDA published Florida citrus maturity results (unadjusted) on Sep. 12, with some promising results for non-Valencia oranges.
For early non-Valencias, unfinished juice and solids per box were estimated at 45.6 pounds and 4.4 pounds, both four-year highs. For 2022/23, juice and solids were 43.31 and 3.95 pounds, respectively. Solids were 9.64 percent vs. 9.13 percent a year prior and a four-year average of 9.28 percent.
For midseason non-Valencias, unfinished juice and solids per box were 43.61 and 4.00 pounds, respectively, vs. 43.36 and 4.00 pounds a year ago. Solids were 9.18 percent vs. 8.88 a year ago and a four-year average of 8.81.
The full version of this commentary appeared on our IQ platform Sep. 12, 2023. Further information, statistics, and pricing for the FCOJ market are available to IQ subscribers.Learn more about becoming a subscriber.
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