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US consumers have grown used to the prices of basic goods rising, but the soaring price of orange juice around 170 percent higher than two years ago has stunned many. What is causing this refreshing fruit’s price to spike so steeply? Demand exceeding supply is much of it, with supply constrained by factors such as hurricanes and disease.
Vernon Hollingsworth grew up in Florida among his family’s orange trees, recently ravaged by a double whammy of disease and a hurricane that have sent juice prices spiraling and left farmers blinking in disbelief.