Global Orange Juice Outlook 2020/21

Global orange juice production is expected to reach 1.8m metric tons in 2019, a 20% increase over last year’s poor crop. The increase in production is largely driven by improved yields in Brazil and will help restore global inventories. However, according to Andrés Padilla, Senior Specialist – Beverages: “In spite of the increase this year, we believe FCOJ prices will be better supported in 2020. We will see some gains from current levels of USD 1,750/mt (listed prices in Rotterdam), as early signs for the coming 2020/21 crop in Brazil point to a significantly smaller orange harvest. It is still too early to have a firm estimate of production for next year, but a new global deficit in the supply/demand balance is likely.”