US juice drinks producer Ocean Spray sold 210,000 gallons of concentrate at its second cranberry concentrate auction this month.
The auction, a trading platform introduced in 2009 to offer fair and transparent trading, saw the firm sell at a clearing price of US$20.50 per gallon for the first delivery period and $24 per gallon for the second contract delivery period.
The US-based cooperative, consisting of around 600 cranberry and 50 grapefruit growers, will now run its concentrate auctions on a quarterly basis, the firm said yesterday (11 February).
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