If the Floridian producers seem to sink a little deeper, their Brazilian counterparts start the 2017/18 campaign with a big smile.
With 374 million boxes expected, the harvest would be even larger than expected as a result of generous rains. It would even be the fourth most important season in terms of volumes since the year 2000. Juice production is expected to soar (1.2 million tonnes of concentrated equivalent, more than 70% more than in 2016/17). Good news, especially since stocks are at their lowest level of the decade with just over 100,000 t of concentrated juice equivalent. Admittedly, physical market prices reacted downwards with the announcement of this big crop (from US $ 3,000 per tonne in the first half to US $ 2,250 since July). However, the futures market gained more than 15% in September following hurricanes in Florida. The news is pretty good too in the medium term. The generalization of high density plantations (719 trees / ha in 2017 versus 540 in 2015) will help cushion the continuing downward trend in area (28 000 ha lost between 2015 and 2017). In addition, Greening appears to be controlled (17% of positive trees in 2015 compared to 18% in 2015).
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