Orange exports exploded in 2023 – 65% increase compared to last year

According to data from investigations of the Northern Greek Export Association (SEBE), the Greek population was 65% in 2023. More specifically, exports of oranges in 2023 reached EUR 225.9 million compared to EUR 136.8 million in 2022. In other words, they increased by EUR 89.1 million. It is worth noting that the rate of increase in Greek exports of oranges in 2022 – 2023 is sixfold compared with the rate of increase in total exports of food (65% versus 12%). The increase in exports of oranges is noted at the same time that international orange juice prices have “wounded ceiling” due to a disease that has damaged crops in Latin America and thus concentrated juice in supermarkets is 140% more expensive. In addition, the price of oranges for juice has increased from 8 minutes/kg in 2023 to 20 minutes this year and over the past 2 years the prices of juices in supermarkets have increased over 36% from 1.2 euros to 1.64 euros per litre. The climate crisis also affects orange harvesting and therefore orange juice is the raw material that has become the third most expensive in 2023, according to the Handelsblatt assessment. In October, the price increased even to the highest level since trading in future contracts began in New York City in 1966. This is due to the fact that the disease of the yellow dragon, whose bacterial pathogens ensure that oranges become bitter and useless to produce juice, has significantly reduced production in the three main countries producing Mexico, USA and Brazil. Orange cultivation in Florida has also been hit by hurricanes in recent years. However, private investors should be careful about speculation for further increases in orange juice prices: Transactions in future orange juice fulfillment contracts are very low compared to other commodities, so some large positions can already cause sharp price fluctuations. World reserves of orange juice were estimated at 463. 940 metric tonnes at 31 December last year, 6.7% more than the end of 2022, Brazil’s CitrusBR producer association recently said. The annual increase broke a three-year drop streak of shares, but was not enough to facilitate the purchase, as they remain at their second lowest level in the historical series of CitrusBR dating 13 years ago. According to the latest Orange Juice Market report (2024-2031), the global orange juice market is expected to increase at a significant rate during the forecast period between 2024 and 2031. Due to the COVID-19 pandemic, the size of the global orange juice market is estimated to be worth US$5,850 billion in 2021 and is projected to be adjusted to US 7,016 billion by 2031 with an average annual growth rate of 2.6% during the 2023–2031 forecast period. The main players of orange juice include PepsiCo, Coca-Cola etc.The top two players of orange juice represent about 73% of the total world market. America is the largest consumer orange juice market, representing about 37%, followed by Europe and Asia-Pacific. With regard to the press, the conventional is the largest category, with a share of about 65%. And as far as implementation is concerned, the biggest application is sales offline followed by online sales. This exhibition focuses on the volume and value of orange juice worldwide, regional and company level. From a global perspective, this report represents the overall size of the orange juice market by analysing historical data and future prospects. At regional level, this report focuses on various key areas: North America, Europe, China and Australia.