Markets

NY orange juice ends 2011 slightly higher

Published Updated

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.

Copyright Reuters, 2011