Orange juice currently sells at $4,960 per ton in the international market. The price of the commodity has fallen from $10,960 per ton, the price on 19th of December 2024 to the current price. The market size of orange juice exceeded USD 6.5 Billion in 2023 and is expected to grow to $7.6 billion by 2027. The growth rate is pegged at 5.5% CAGR during 2024 to 2032.
Brazil is the world’s largest producer of oranges and a leading exporter of concentrated orange juice, holding about 75% of the global market. The country earned $1.27B from export of orange concentrates in 2024
Nigeria produces a significant amount of citrus fruits, including oranges, with an estimated 4.2 million tonnes produced in 2023, and Benue State being the largest producer. However, it is a net importer of orange juice concentrate. In 2002 and 2023, Nigeria imported $7.388 million worth of frozen orange juice.
