Florida Citrus Stuck in Crop Forecast Funk
A troubling downward trend for the Florida citrus market has come to a halt – at least when it comes to the USDA crop forecast. The previous three estimates revealed marked declines in production. In April’s outlook, the bleeding has stopped.
According to USDA, the updated all-orange forecast remains at 67 million boxes (33 million boxes of early, midseason, Navel, and Temple varieties; plus 34 million boxes of Valencias).
The estimate for Florida grapefruit dropped 800,000 boxes to a total of 8.1 million boxes. Just for comparison’s sake, the grapefruit crop during the 2003-2004 season was 40.9 million boxes.
USDA is slated to drop its next crop report on May 10.