US: PepsiCo to inflate OJ price - report
The company will also decrease the size and frequency of discounts offered to consumers, according to the news service, in another measure forced by what is being billed as the worst Florida citrus crop in more than a decade.
Following two heavy hurricane seasons, drought and crop disease, Florida's harvest has reportedly dropped off significantly. Before the past two hurricane seasons, Florida averaged about 220m boxes, each weighing 90 pounds. The US Department of Agriculture has predicted that 135m boxes of oranges will be picked in the 2006-07 season, down again, from 148m boxes last year, AFX said.
It could be the worst crop in more than 15 years, when frozen weather disrupted production.
Tropicana's vice president of sales Eric Miller reportedly said in a written statement: "Given the world citrus supply is severely challenged and cost pressures have dramatically increased, we are once again forced to raise our prices to customers. However, we believe these pricing strategy changes are in the best long-term interest of the category, our customers and consumers."
PepsiCo was unavailable for comment when contacted by just-drinks today (8 November).
Last week, the Coca-Cola Co. also raised orange juice prices, by 9% to 11% for its Minute Maid and Simply Orange juice products due to the Florida shortage and increased fuel and energy costs.
PepsiCo is claiming that its Diet Pepsi brand has "more cola taste" than Diet Coke in its latest advertising campaign....
PepsiCo's chairman Steve Reinemund retired today (2 May). The company's CEO Indra K. Nooyi assumes the title of chairman....
United Airlines has signed a five-year beverage agreement with Coca-Cola Co. to make it the airline's primary soft drink supplier....
Coca-Cola FEMSA has signed a deal with Electronic Data Systems to grow IT services and support company expansion plans....
PepsiAmericas has issued details of its Q1 dividend payments....
Coca-Cola Co. has unveiled two brand extensions for its Minute Maid juice line in the US....
PepsiCo has posted an impressive lift in earnings for the first quarter of this year....
Coca-Cola Co. has declined to comment on speculation linking it to US bottled water producer Glaceau....
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