Florida oranges

The hurricanes that blasted through America last autumn flattened fruit crops, sending the price of 'orange futures' rocketing to their highest level ever.

Futures are stocks of fruit bought before they even exist, on the international commodities market. Yet the high price for the limited stocks available is not helping American orange-growers . Florida is the orange capital of America, producing 98% of American oranges, but most of the fruit there was rotting on the ground by late November, even before it had ripened. Sixty per cent of the crop was lost. Orange juice, that American staple, did not disappear from breakfast tables across the continent, though - because Florida already had stocks of 181 million gallons, which is enough to supply the market for 42 weeks.

Bambinella