Spot price is the highest of 12 years

Brazilian orange price traded in the spot market (delivered on citrus plant) has been reaching record levels during this year. In the accumulated of December, pera orange delivered on citrus plant averaged 6.61 dollars per box of 40.8 kilos, the highest value registered by Cepea - since October of 1994. The increase is related to the lower global supply, especially from Florida.

Even with the higher forecast for the 2006/07 orange crop production in Florida published by the United States Department of Agriculture (USDA), the volume produced is not enough to supply all the country demand.

The USDA forecasts an increase of 5 million bags of 40.8 kilos, with the crop production totaling 140 million bags. At the New York Board of Trade (Nybot), futures of frozen concentrate orange juice (FCOJ) downed 5 percent, from 3,028.58 dollars per ton last Friday to 2,886.72 dollars per ton after the USDA's publish. Even with recently futures decrease, levels practiced at the Nybot are the highest of the last 16 years.

In the Brazilian fresh fruit market, prices keep firm, with pera orange at 13.44 reals or 6.25 dollars per box of 40.8 kilos (on tree) - Sao Paulo state average, up 0.7 percent over the previous week. Trades moved at a better pace in some regions where the weather was hot and dry.

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