Colosseum a.s. (Colosseum a.s.)
Commodities  |  April 16, 2013 09:06:28

Orange concentrate on annual maximums

ColosseumThe fear of starting hurricane season in the Atlantic Ocean were behind yesterday's sharp increase in the cost of futures contracts on orange concentrate. Risk is crop damage in Florida, which is currently in the frequent occurrence of hurricanes. In the next hurricane season, which lasts from 1 June to 30 November may occur up to 6 Category 3 tropical storms, which can result in very strong hurricanes. Concentrate inventories monitored by the exchange ICE Futures U.S. also dropped compared to the same period last year by 33%. So yesterday ended May concentrate on this stock by 3.5% higher at 149.10 cents per pound of weight.

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