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Article: Pssst! Orange juice hasn't been this cheap since 1977 The market made famous by `Trading Places' is at a 27 year low, but don't tell the shoppers. Tim Webb reports
- Article from:
- The Independent on Sunday (London, England)
- Article date:
- March 14, 2004
- Author:
CopyrightCopyright 2004 The Independent on Sunday. Provided by ProQuest LLC. (Hide copyright information)
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The little-known activity of buying and selling frozen orange
juice futures had its moment of fame in the 1983 film Trading Places,
starring Eddie Murphy and Dan Aykroyd. But the prices they paid, even
as the duo manipulated the market, are higher than today. The cost of
frozen orange juice has just hit a 27-year low. But consumers are
unlikely to see a fall in the price they pay at the shops for a
carton of the stuff.
The futures, which are a contract to deliver the frozen juice at a
fixed point in the future, are traded on the New York Cotton
Exchange, along with other agricultural and food commodities such as
sugar and cocoa.
Over the past year, the price for a pound of frozen orange ...