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”.