BUFFALO, N.Y. — A breakfast drink staple is skyrocketing in price.
Your morning breakfast may not be complete without a glass of orange juice, but that's going to be harder to get soon.
Prices of orange juice have been climbing rapidly in recent years, mostly by the smaller output in Florida, the main producer in orange juice.
The benchmark frozen concentrated orange juice futures, traded on the Intercontinental Exchange in New York, closed at $4.77 per pound on Wednesday.
That's almost double what it was a year ago.
It's not just in America though. Brazil, the world's largest producer and exporter of orange juice, was set to produce 232.4 million boxes of oranges.
That's a 24% decline when compared to the previous cycle.
The drop can be contributed to climate change dramatically reducing crop production, with more frequent and intense extreme weather events.
The jump in price has some juice makers even considering alternative fruits.
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