(NewsNation) — Climate change and disease in Brazil could have you drinking mandarin juice instead of orange juice for breakfast as prices reach record highs.
Concentrated orange juice futures Tuesday reached $4.29 per pound, nearly doubling in price compared to last year, the Financial Times reported.
The orange market took a turn in 2022 after a hurricane and cold weather hindered Florida orange groves. The nation’s southeast growing region was also hit by infection and disease that caused the fruit to turn bitter or fall prematurely.
The outlook is growing more dire amid warnings that last year’s heat in Brazil could lead to one of the worst orange harvesting seasons in decades, according to NBC News.
Manufacturers can sometimes get away with blending other fruits with stored frozen orange juice, but those stockpiles are shrinking as the orange industry continues to face challenges.
At some point, manufacturers may need to turn to mandarins, a citrus that is “more resilient to climate change,” according to the Financial Times. Otherwise, they may take advantage of more accessible fruits by mixing juices with flavors like pear, apple and grape, NBC reported.
“Until that point is reached where consumers are no longer willing to pay the premium for orange juice because it is at such low supply, prices will continue to drive up,” Mintec commodity market research analyst Henry Campbell told CNBC.