NY annuls gains, but Florida should support it

After increasing last week due to the damages caused by California frosts, orange juice prices got back to the previous levels. Futures of frozen concentrate orange juice (FCOJ), that reached 207.55 cents of dollar per pound on January 17, returned to 201.05 cents of dollar a pound last Wednesday at the New York Board of Trade (Nybot). That is because California does not have a great influence in futures, since most part of its production is destined to the in nature market.

On the other hand, Florida - the main orange producer state in the United States - keeps registering higher temperatures. According to the National Agricultural Statistics Service, temperatures were up to 7 degrees above the standard of the period. The expectation is that the very hot weather in Florida supports orange juice prices in the medium term.

In the Brazilian market, pera orange prices (in tree) kept stable comparing this week to the previous one, at 7.37 dollars per box of 40.8 kilos. In the spot market (delivered on citrus plant), orange price averaged 7.30 dollars per box of 40.8 kilo, keeping also unchanged.

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