The export value of concentrated orange juice from the US to Canada has experienced significant fluctuations over the years. In 2023, the value stood at $68.73 million USD. From 2013 to 2023, the largest annual decrease was in 2019, with a drop of -26.95%, followed by a sizable -25.82% drop in 2020. However, there was a recovery phase beginning in 2021, demonstrating a substantial year-on-year increase of 49.39%. This upward trend continued in 2022 (7.38%) and 2023 (3.98%). The Compound Annual Growth Rate (CAGR) over the last five years shows a lower negative trend, highlighting a reduction in the steep declines experienced earlier.
Looking ahead, forecast data from 2024 onwards indicate a cautious tapering off in export values, with a minor year-on-year decrease projected until 2028. The forecasted 5-year CAGR suggests an average annual decline of -1.13%.
- Future trends to watch for include potential changes in trade policies, market demand fluctuations, and climatic conditions affecting orange production.