SAO PAULO, Feb 26 (Reuters) - Orange juice production in Brazil, the world’s top exporter, should total just 874,000 tonnes in the 2018-19 crop year that ends in June, a 27.5 percent drop from the previous season, industry group CitrusBR said on Tuesday.
According to a report published by the group, which represents the country’s largest processors such as Citrosuco, Cutrale and Louis Dreyfus Company, carryover stocks at the end of the crop are projected to fall more than 41 percent to 200,000 tonnes (frozen concentrated equivalent).
The reason, according to the association, is the off-year in the biennial production cycle, which alternates between years of high and lower orange production.
Research group Fundecitrus projects the current crop to fetch only 284 million boxes of 40.8 kg each, around 30 percent less than last season.
CitrusBR said it was likely production would rebound in the 2019-20 crop, although it was too early to estimate total output.
Brazilian exports of orange juice fell 12 percent in the first half of the crop year, to 516,900 tonnes, said CitrusBR, citing smaller global demand and competition from countries such as Mexico. (Reporting by Roberto Samora Writing by Marcelo Teixeira; Editing by Tom Brown)