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RELEASE: Global inventories of Brazilian orange juice in December 31, 2017

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The Brazilian Association of Citrus Exporters (CitrusBR), following its commitment to transparency, discloses the following information:
Audited and projected inventories
The survey conducted by independent auditing firms with each of CitrusBR associate member companies and consolidated by external auditing ascertained that global inventories of Brazilian orange juice, converted into Frozen Concentrated Orange Juice Equivalent (FCOJ  66° Brix)  at CitrusBR associate members’ facilities on December 31, 2017, amounted to 702,981 tons. This volume indicates an increase of 205,598 tons or 41.3% when compared to the 497,383 tons existing 12 months before on December 31, 2016. The same survey indicates that on June 30th, 2018, the global inventories of Brazilian Orange Juice are anticipated to be 254.2 thousand tons of FCOJ Equivalent 66° Brix. This projection, if confirmed, will represent an increase of 146,813 tons as compared to the 107,387 tons which were existing at all CitrusBR members’ facilities on June 30th, 2017, as previously informed to the market. The table below provides the historical data of physical inventories of Brazilian Orange Juice at CitrusBR associate members’ facilities both on December 31st and June 30th of each season, as well as the projected carry-over inventory at the end of the 2017-2018 season, as follows:
Orange processing in the 2017-2018 season
In order to have better predictability towards the data estimates, information about the estimated total volume of oranges processed by the citrus industry in the 2017/18 season will be compiled and disclosed in May 2018.
Industrial yields 2017-2018 season
The information compiled by the independent auditing firm estimates that the average juice yield on fruit obtained in the 2017-2018 season until December 31st 2017 was of 282.49 boxes of oranges required to produce 1 metric ton of FCOJ Equivalent to 66° Brix. The table below contains historical data of juice yield on fruit for the last 18 seasons.
São Paulo, February 14, 2018
Executive Director