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News Link • Economy - Economics USA

Hyperdeflation In Orange Juice!

• http://www.businessinsider.com, Joe Weisenthal
 This is from the latest USDA report. Apparently the decline in produciton was not as much as expected.
 
The United States all orange forecast for the 2011-2012 season is 8.91 million tons, down 1 percent from the previous forecast but virtually unchanged from the revised 2010-2011 final utilization. The Florida all orange forecast, at 145 million boxes (6.53 million tons), is down 1 percent from the March forecast but up 3 percent from last season’s revised final utilization. Early, midseason, and Navel varieties in Florida are forecast at 74.0 million boxes (3.33 million tons), unchanged from the March forecast but up 5 percent from last season. The Florida Valencia orange forecast, at 71.0 million boxes (3.20 million tons), is down 3 percent from the March forecast but up 1 percent from the revised 2010-2011 crop. Sizes for Valencia oranges in Florida are expected to be slightly smaller than average and fruit droppage is expected to be well above average.

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