Small orange crop may raise juice prices

? An anticipated small crop of Florida oranges could squeeze the world’s juice supply by 7 percent this year, pushing U.S. retail prices up by as much as 50 cents a gallon.

A state economist told the Florida Citrus Commission on Wednesday in Lakeland that U.S. orange juice companies may need to import 21 percent more juice to compensate for the state’s hurricane-induced shortage.

The anticipated shortfall and low production during the two previous seasons – also because of hurricanes – have already prompted juice suppliers such as PepsiCo Inc.’s Tropicana Products and The Coca-Cola Co.’s Minute Maid to boost prices.

The Sunshine State, which typically produces more than 90 percent of all juice consumed in America, is expected to produce its smallest crop in more than a decade, according to the U.S. Department of Agriculture.