Frozen orange juice just hit an all-time high
Frozen concentrated orange juice hit an all-time high for the second day in a row at $2.3300 a pound as of 11:31 a.m. ET.
The commodity made famous by the Dan Aykroyd-Eddie Murphy comedy Trading Places has fallen out of favor in recent years as consumers have shifted to fresh, non-concentrate juice.
A combination of lower Florida and Brazilian production caused by an infestation of Asian citrus psyllids, has driven concerns there won't be enough supply, according to Bloomberg. Thus, prices have been driven up in recent months.
Based on data from Markets Insider, the commodity has moved up 36.3% over the past three months and 73.9% over the past year.
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