The orange crop in Florida, the world’s second-biggest grower, will be 2.7 percent smaller than forecast in December, the government said as a plant disease damaged groves. The drop was bigger than analysts expected.
The orange crop in Florida, the world’s second-largest producer, may increase 22 percent over the next year as groves recover from a freeze in January, said Jimmy Tintle , an analyst at Transworld Futures.
Sugar futures rose to the highest price in almost eight months in New York on concern that adverse weather will limit supplies from Brazil, the world’s largest producer. Cocoa prices advanced and coffee fell.
Raw sugar rose for a sixth session, trading near a 29-year high, on concern that shipments will be limited from India, the world’s second-largest producer. Cocoa and coffee prices dropped, while orange juice gained.