Revenue from orange juice exports weak at the start of the 2020/21 seasonNov, 23, 2020 Posted by Ruth Hollard
Data compiled by CitrusBR show that orange juice exports were weak in October. In the first four months of the 2020/2021 season, total volume, including concentrated and frozen juice (FCOJ) and the ready-to-drink product (NFC) fell 19.2% compared to the same interval in 2019/20, to 319,600 tons. Revenue decreased 33.3% to US$ 687.2 million.
“In the past harvest, we had a production of 1.2 million tons of juice, 37.4% above the previous period. This allowed for the restoration of international stocks of Brazilian juice”, said the executive director of CitrusBR, Ibiapaba Netto, in a written statement. On June 30, the inventories of CitrusBR’s associates reached 471,100 tons, compared to 253,200 a year earlier.
According to Netto, due to the biennial nature of the crop, in years of larger orange crops such as 2019/20, exports tend to be more intense in the initial months. “This does not mean that exports will be lower this season, but it does indicate, for the time being, a lesser need to transfer the product to points of sale worldwide”.
For Europe, which is the main destination of Brazilian exports, the volume reached 215,500 tons from July to October, 26.5% less than in the same period last season, and the equivalent revenue decreased 38.8%, to US$ 310.1 million. For the US the volume grew 2%, to 54,700 tons between July and October, but the value was 8.8% lower (US$ 78.2 million).
Source: Valor Econômico
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