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Orange-Juice Prices Soar With Americans Seeking Immunity Boost
Orange juice prices are soaring, making it this year’s best-performing commodity, as Americans load up on the beverage in an effort to boost their immune systems.
Futures traded in New York are up about 27% in 2020, reaching the highest in more than a year on Monday. U.S. retail sales in the four-week period ending April 11 increased 46% from a year earlier to 44 million gallons, the most since January 2015, according to the Florida Department of Citrus, which cited data from Nielsen.
Across the globe, consumers are turning to products they think will help fortify their immune systems to keep them healthy during the coronavirus pandemic. Citrus is being sought for its vitamin C content. In Asia, consumers are turning to traditional remedies. Black garlic is in demand in Vietnam, and Indonesians are stocking up on jamu, a medicine made from natural ingredients.