Orange juice is getting squeezed from the breakfast table
The tall, bright glass of orange juice once seen on breakfast tables all over America is slowly vanishing from sight.
Higher prices and a greater variety of tempting alternatives are slowly but steadily pushing this once-ubiquitous morning tonic off the table, according to the MoneyBeat blog on WSJ.com.
Americans have bought less of the pulpy beverage in 2013 than at any point since the Florida Department of Citrus began tracking sales in 1998. For starters, the price of a gallon of the stuff has jumped more than $1.50 in the last decade. An insect-borne disease from Asia called citrus greening is killing off trees all over the Southeastern United States, driving up the price of the remaining crop.
Customers can also choose from a wider array of options than in the past, including the increasingly popular energy drinks, and newcomers like acai and pomegranate.
All of this is placing a lot of downward pressure on the orange-juice futures contract, which could be closing at its lowest price since March 7.
For now, the higher retail prices on the juice will keep revenues relatively stable for the companies that stock grocery shelves, but don't expect sales by volume to rebound from their 30% decline anytime soon.
Read the full story here: The Slow Death of a Former Breakfast Table Star