SAO PAULO (Reuters) – Brazilian orange juice producer Cutrale has suspended exports of orange juice concentrate from Brazil to the United States, Brazilian newspaper Valor Economico reported on Monday.
A new tax on exported juice concentrate has reduced profit margins for shipments from Brazil, the world’s largest orange juice exporter. Cutrale, which supplies Coca-Cola orange juice brands such as Minute Maid and Simply Orange, is looking to export from Mexico, the paper said, citing unnamed sources.
Cutrale, which usually ships about half of Brazilian orange juice exports to the United States, declined to comment on the report.
(Reporting by Tatiana Bautzer, Editing by Louise Heavens)