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HOUSTON -- Minute Maid said earlier this week it will raise wholesale prices for chilled premium orange juice by 5 percent to 6 percent, effective July 1.
The company said wholesale price increases affect Minute Maid Premium Orange Juice and Simply Orange Orange Juice. It cited "unprecedented accelerating cost increases for raw materials, fuel, energy, and general inflation." This is the second price increase this year for the orange juice brands.
A combination of hurricane damage in 2004 and 2005 and other factors have cut orange juice crops by a third and more than doubled prices for juice and solids, the company said, and orange juice futures are trading at a 15-year high.