Louis Dreyfus Company (LDC) said on Monday it planned to build new storage tanks in Matao, in the Brazilian state of Sao Paulo, to meet growing global consumer demand for high quality not-from-concentrate orange juice. The new investment will bring not-from-concentrate (NFC) orange juice storage capacity at the site to 30 million litres, and annual juice production capacity to 300 million litres, it said. The new storage tanks are expected to be operational by the end of 2023, it added.
As gas prices soar, the cost of citrus fruit is growing faster as inflation makes food and services more expensive, according to latest CPI report.
Brazilian orange juice producer Cutrale has suspended exports of orange juice concentrate from Brazil to the United States, Brazilian newspaper Valor Economico reported on Monday, as a new tax on exports has eroded its profits. The Brazilian tax on exported juice concentrate has impacted the profit margins for shipments from Brazil, the world's largest orange juice exporter. Cutrale, which supplies Coca-Cola orange juice brands such as Minute Maid and Simply Orange, is looking to export from Mexico, the paper said, citing unnamed sources.