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Brazil: Orange Juice Prices Hit a High | 03-03-2011

The forecast of a smaller offer from Florida this year was fundamental for a high in the quotations of orange juice at New York stock market, reaching the highest in almost two months.

Stocks with a due date in May closed at US$1,772 for a pound-weight, a high of 315 points. "We're going towards a very small offer from Florida this year and probably for the next one", president of Liberty Trading Group, James Cordier told the Dow Jones Newswires agency.

He's expecting that future prices for this commodity reach a peak of US$ 2,00 on the second quarter of the year. On the internal market, a 40.8 kilo box for São Paulo's industry closed a stable day at R$15,00, according to Cepea/Esalq.

Read the original article from Fresh Plaza.