NEW YORK: Orange juice futures finished 2011 slightly higher, bucking a broadly lower trend among other soft commodities.
The key March frozen concentrated orange juice contract rose 0.45 cent to conclude at $1.69 per lb on Friday, trading from $1.672 to $1.691.
The market rose 3.33 percent year-on-year, marking a third straight annual gain.
The increase this year, albeit small compared with 2010, contrasted with cocoa, cotton and sugar, which saw their values drop by double-digit percentages.
In calendar 2010, orange juice's second-position contract finished up almost 27 percent.
The juice market is finely balanced between nearby supply and expectations of a good harvest in Florida, the top US producing state.
The market will be shut on Monday for the New Year's holiday and reopen on Tuesday.
Comments
Comments are closed for this article.