Orange-Juice Prices Soar after Cold Blast in Florida

.

Orange-Juice Prices Soar after Cold Blast in Florida

There are quite bright chances that the U. S. Food and Drug Administration would ban the import of orange juice from Brazil over safety concerns. The issue is rampant from quite a few days, due to which prices of orange juice have soared quite high.

Brazil is the world’s largest producer of orange juice but from past few days, Carbendazim, a fungicide, was found in the shipments from Brazil. This has raised concerns among the FDA officials who are thinking about restricting its entry in the country.

Since the beginning of the year, the price of the juice has increased by 25%, which amounts to $2.12 a pound. The FDA said Carbendazim is not allowed in the country, and this is the reason that they are thinking not only to ban the further imports of the juice but also to remove the available juice from the supermarket shelves.

The FDA officials said that they some juice companies were complaining of presence of fungicide in the juice for last month only. They said they have initiated inquiry in this regard, and would soon get to know if somebody got affected with the contaminated consumption or not.

In Brazil, Carbendazim is used to treat black spot which grown on tree and if left untreated, it decays the whole tree on which it grows. Another reason that has led to orange-juice price hike is the cold weather in Florida. It is the world’s second largest producer of the juice. But, cold weather has damaged fruits as well as orange tree leaves.

Michael Smith, the President of T&K Futures and Options based in Florida, said: “We had two nights in parts of Florida where we had below zero temperatures. That will definitely cause damage”.


Latest News

Tesla Battery May Help Consumers Save Twenty Five Percent on Electric Bills
Some American Airlines Flights Delayed due to iPad app Issue
Raising Retirement Age could Benefit Social Security According to Christie
Apigee Becomes the Second Tech Company for Silicon Valley to go Public this Year
Massive Crane Begins its First lift Helping to Build the Tappan Zee Bridge
Shares of Facebook Drop as the Social Networking Company Fails to Match Expectat
First Quarter Profits of Discover Financial Services Drops but Surpasses Analyst
Amgen Inc. Announced First Quarter Earnings that Beat Analysts’ Expectations and
Magnificent, Perfect100-carat Diamond Sells for $22Millon in Sotheby’s Jewelry A
Kraft Revamping Its Iconic Macaroni and Cheese Meal by Removing Synthetic Colour
San Juan Capistrano’s Tiered Rates for Water-Use Thrown Out by Appeals Court
Morgan Stanley Announces Better than Expected First Quarter Profits