Orange juice investors seem to have lost their zest for the commodity.
Since the beginning of the year, prices for orange juice future contracts have fallen 33.1% from $US197 to around $US132.
Several factors have contributed to the dramatic drop in price.
Orange juice is about as bad for you as a bag of M&Ms, and Americans have been drinking less juice in recent years. Sales of frozen juice have been hit the hardest, as sales fell by $US98 million from 2012 to 2016.
The decline in sales has mirrored a decline in production. Florida is the largest orange producer in the United States, and its annual production in 2016 was the worst since 2005, according to data from the USDA.
These declines have led to a smaller number of traders even interested in the commodity, according to the Wall Street Journal. The decline in orange juice futures contracts has followed the decline in production since 2016.
Commodities that more commonly make the news have been moving a lot in the last couple of weeks. Oil fell sharply on Wednesday following news of a gain in US reserves when investors were expecting a decline. Gold is on the rise as geopolitical events like the recent terror attacks and upcoming UK election raise uncertainty for investors.
Get the latest Gold price here.
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