The colder weather in Florida during last weekend supported again frozen concentrate orange juice (FCOJ) prices, which reached again levels close to 200 cents of dollar per pound. Last Wednesday, Feb 21, futures averaged 198.10 cents of dollar (2,882.35 dollars per ton) at the New York Board of Trade (Nybot).
According to agents, the frosts damaged some blooming areas in Florida. At least for now, there is no official information about the injuries of low temperatures on the next crop (2007/08), however, international agents start to concern about the possibility of low orange stocks at the end of this season.
From now on, the attentions should be on the estimated volume for the next crop, since the figures for the current season are already settled.
In Brazil, the supply keeps restrict due to the off-season period in the Sao Paulo state. In this context, prices are very high: pera orange was traded at 17.10 reals or 8.14 dollars per box of 40.8 kilos in the average of February (on tree), increase 13.32 percent in Real or 15.46 percent in dollar over January's average.