Major OJ Purchase Promises Relief For Florida Citrus Sector
August 22, 2016 Word of a $30 million bonus orange juice purchase from USDA comes as welcome news for a thirsty Florida citrus industry.
According to a release from the government agency, a solicitation will be issued in the near future.
Florida Citrus Mutual (FCM) alerted its members of the forthcoming, timely OJ acquisition. FCM’s estimates indicate the total purchase, which is required to be Florida OJ, will result in 8.1 million pound solids removed from existing inventories and will put upward pressure on grower returns.
Mike Sparks, Executive VP/CEO of FCM, said USDA’s purchase will be provide a boost heading into what could be a difficult 2016-2017 production season.
“We are very appreciative of USDA Secretary Vilsack’s approval and the entire Florida delegation who supported our request,” Sparks stated in the FCM’s member alert. “Special thanks to Sen. Bill Nelson and Congressmen Rooney and Ross for their special efforts to make this happen.”
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