Values move up even with slow trades

Brazilian citrus in natura market moved slowly in July, due to the rains and the cold weather. Even so, prices remained increasing. Pera orange, for example, valuated 4.8 percent in Real over June 29th, averaging 11.14 reals or 5.93 dollars per box of 40.8 kilos, in tree, on Tuesday, July 31st. For the fruit delivered on citrus plant (spot market), the raise was of 29 percent in Real in the same period, at 11.70 reals or 6.22 dollars per box of 40.8 kilos on Tuesday.

In the international market, orange juice prices returned to move up, especially due to new focus of greening disease found in Florida's orchards. On Tuesday, July 31st, futures of frozen concentrate orange juice (FCOJ) for September/07 reached 140.00 cents of dollar per pound at the New York Board of Trade (Nybot), increase 4 percent over June 29th. Another factor that boosted values was the cold weather in Brazil.

Regarding exports, due to the lower orange juice supply in the United States, Brazilian FCOJ exports reached the second highest volume in the 2006/07 crop, totaling 1.393 million tons, according to the Foreign Trade Secretariat (Secex) of Brazil. The volume is only 1.27 percent lower than the record of the 2004/05 crop, of 1.411 million tons.

Besides the great volume exported, citrus plants of Sao Paulo state closed the 2006/07 crop with the best revenue (in dollar) of all history, forecast at 2.017 billion dollars (FOB value), increase around 65 percent over the previous season, according to the Secex.

For citrus grower (Sao Paulo state), renegotiated and not renegotiated contracts averaged 4.20 dollars per box in the 2006/07 crop, value 27 percent higher than that from the 2005/06 crop and 37 percent superior to the value from the 2003/04 crop.

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