Spot price is the lowest since the November 2000

Brazilian prices for the orange delivered at plants (spot market) have been decreasing significantly, different from what happened in the off-season from the last three crops. On February, pera, natal and valencia varieties averaged 5.93 reals or 2.57 dollars per box of 40.8 kilos, the lowest nominal value since April 2005. In real terms, the average is the lowest since the November 2000.

The downward trend is linked especially to the low fruit yield in this crop, due to the rainfalls. Moreover, the slow market pace and decreasing values for frozen concentrate orange juice (FCOJ) have been reinforcing the retreat from processors.

For March, growers bet on higher liquidity, once industries should start purchasing early varieties (hamlin and westin) from 2009/10 crop. Besides that, it is expected better pace concerning contracts between growers and processors - for a while, this kind of trade is stopped. (Cepea - Brazil)

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