The last 3 years. From the high of $226.95 on 23rd January OJ has crashed down to as low as $112.3, more than a 50% decline.
Sentiment is desolate;
Chart from www.sentimentrader.com
You may need to stay that way, a search of an ETF database didn't release any juice. Still, there's always futures...
How things change, I bookmarked this article back in January;
Excerpt from Telegraph;
"Orange juice will soon be 'luxury'
Orange and apple juice, an integral part of many people's breakfast,
could become an unaffordable "luxury", according to a report,
which highlights how the price of fruit juice has rocketed.
The price of orange juice has more than doubled on
the commodity markets Photo: Fran Stothard / SWNS.COM
A series of bad harvests from Florida, America
to Shandong Province, China, combined with increased demand from
Asian countries, has forced up the price of orange and apple juice on
the world market. Supermarkets have started to react in Britain by
pushing up the price of a carton of juice.
The Grocer, the industry trade magazine, reported prices are set to climb even higher making most juices a "luxury".
predicted factory prices could rise by as much as 80 per cent
for orange juice and 60 per cent for apple juice in 2011.
would place further pressure on retailers to increase the price of
orange and apple juices on shop shelves even though they have already
gone up sharply. Over the past year, the price of a one-litre carton
of Tropicana fresh orange juice across the five major supermarket
chains has risen 22 per cent, from an average of £1.80 to an average
of £2.19, while a one-litre carton of own-label apple juice from
concentrate has gone up an average of 21 per cent, from 87p a year
ago to £1.05 now.
Fruit juices are just the latest key
household staple to be hit by the spike in global commodity prices,
which has affected everything from a litre of unleaded petrol to a
loaf of bread.
The Office for National Statistics has
calculated that inflation, based on the Consumer Prices Index,
increased from 3.3 per cent in November to 3.7 per cent in December,
with food prices driving much of this jump. Food increased in price
by 6.1 per cent during last year, with butter, fruit, lamb, tea
and juices particularly badly hit.
Orange juice has been
particularly affected by the bitterly cold winter in Florida last
year, the main orange growing area in the world and which at one
point was colder than Alaska. Cold weather in China, too, wiped out
40 per cent of the apple harvest in some parts of the country. China
has become one of the main producers of apples in the world.
Hall, chairman of food consultancy Zenith International, said
orange and apple juice producers were already the world's largest,
most efficient juice producers, so there was little room for them to
absorb cost increases.
"Pricing for orange and apple juice this year could see the most radical change," he said.
Pritchard, chief executive of drinks maker Pomegreat, which
makes pomegranate and other juices, said costs had gone up 40 per
cent and his company would have to pass on about 10 per cent
"Part of the problem is the upward shift in demand
from places such as China and India, who are spending more money on
expensive drinks. This is putting pressure on the world markets."