The New York Post is reporting that the devastation caused by Hurricaines Charley and Frances is about to hit home ... in the produce section. This season's hurricaines have devastated the Florida grapefruit crop and severely damaged the orange crop. Prices are skyrocketing in the orange juice futures market, although the real spike will be in the prices of whole fruit (orange juice is typically stored in reserve at super-frozen temperatures for up to three years to hedge against interruptions in supply).
Gothamist is a bit apprehensive about the prospect of a winter without affordable fresh citrus fruit. But growers in Texas and Brazil are stepping in to do what they can to pick up the slack. We'll see what the damage really is when we get to the checkout in a couple of months. In the meantime, we're all like Eddie Murphy and Dan Aykroyd in Trading Places: anxiously waiting for the USDA's top secret crop report.