Brazil forms world’s largest orange juice company
Brazilian orange juice manufacturers Citrosuco and Citrovita announced earlier this week their plans to merge to form the biggest orange juice producer in the world with sales exceeding two billion reais ($A1.23 billion). Chief Executive of Citrosuco Tales Lemos Cubero told Estado news agency that after the merge, the new company will have the capacity to produce 25 per cent of all orange juice in the world.
The two companies Citrosuco and Citrovita will each have 50 per cent stakes in the new company. The two juice giants combined have six factories in Brazil and one in the United States, eight shipping terminals at ports and eight ships.
The top orange-producing country is Brazil, followed by the United States, and Mexico. Brazil is the world’s biggest exporter of orange juice.