Administration, Financial & Sales Division - Citrus Research & Education Institute
Orange Juice Price Increase
Citrus Growers are advised that subsequent to a request to CPBL for a revised First Price submission, growers will be receiving a back pay of $0.0225 pps tomorrow, May 31st 2011.

Members are reminded that the Committee of Management had  informed them about this increase at the SGM held on April 16th 2011.  Members were informed that payment would be made when CPBL was able to make the payment due to the cash flow crisis CPBL was experiencing.  

Orange

New Price

Per box

Previous Price per box

New Price per Pound Solids

Previous Price per Pound Solid

Payment due in pps

Estimated Final Price

$12.2159

$11.4145

$2.0026

$1.9680

$0.0346

65% Advance Payment

$7.9403

$7.4195

$1.3017

$1.2792

$0.0225



Members are further informed that your Committee of Management remains concerned about CPBL selling price on FCOJ into the regional market. When the CGA expressed concern about sales into the regional market in the range of US$1.30 per pound solid CPBL gave an undertaking that is would adjust those contracts to US$1.45 per pound solids. The latest information available to the CGA indicates that at the end of February only one contract was amended to reflect a price of US$1.45 per pound solid. Prices (six month futures average) in the current year held strong above US$1.60 pps for most of the season reaching as high as US$1.80 pps.

The Committee of Management will continue following up with CPBL on this issue in an effort to ensure that CPBL and growers get the returns they should get given the current market conditions.

The second payment for orange will be July 1st 2011
 

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