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Market Data 20.06.2024

Brazil: Volume of juice exported in 23/24 remains below that in the previous crop

The volume of orange juice exported by Brazil in the partial of the 2023/24 season (from July/23 to May/24) remains below that registered in the same period of the previous crop. According to data from Comex Stat, Brazil exported …

Brazil: Volume of juice exported in 23/24 remains below that in the previous crop
(Photo: AdobeStock)

The volume of orange juice exported by Brazil in the partial of the 2023/24 season (from July/23 to May/24) remains below that registered in the same period of the previous crop. According to data from Comex Stat, Brazil exported 914.9 thousand tons of orange juice, for a decrease of 8.9 % compared to the same period last season.

The revenue, in turn, totaled USD 2.47 billion, moving up 22 % this season in relation to the previous. The main reason for the increase in revenue was the higher price paid per ton of juice, which rose due to the low availability of the commodity in Brazil, according to agents consulted by Cepea.

OJ shipments to the European Union amounted 489.79 thousand tons from July/23 to May/24, downing 8.2 % against the same period of 2022/23. The income, in turn, rose 27 %, at USD 1.35 billion. To the US, exports dropped 11 % in relation to that in 2022/23, at 293.64 thousand tons. The income verified between July/23 and May/24 was USD 737 million, 9 % up against the same period last season.

Domestic market

Prices of oranges allocated to processing activities have been moving up since March, when contracts involving the 2024/25 season have started to be closed. In early June, values of the fruit traded in the spot market in São Paulo state hit BRL 85.00 per 40.8-kilo box, harvested and delivered, a new record of Cepea series, which started in 1994, in real terms (averages were deflated by the IGP-DI).

Price rises are related to both the higher demand and the limited supply. As for the demand, the industry needs to purchase the raw material, because orange juice stocks are very low. Concerning the supply, the fruit output may be small again in São Paulo and in Triângulo Mineiro.

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