NEW YORK, March 10, 2010
Less Tropicana O.J. For Your Buck
PepsiCo to Raise Orange Juice Prices, Shrink Container; Cites Florida Crop Damage From Cold
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Play CBS Video Video Florida Oranges Almost Frozen Freezing temperatures threaten orange crops as growers try to save their groves from becoming spoiled, reports WKMG-TV's J.R. Stone.
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PepsiCo cites the deep freeze that hurt much of Florida's citrus crop as to why it is raising prices and shrinking packaging on its popular Tropicana orange juice. (AP Photo/Chris O'Meara)
The company is shrinking its most popular size by about 8 percent - while maintaining its price - and raising prices on another size starting in May.
The 64-ounce container of orange juice will shrink to 59 ounces. The suggested retail price remains $3.59.
The price of Tropicana's gallon container of pure premium orange juice will rise between 5 percent and 8 percent. Right now it costs $6.49.
Citrus growers in Florida - the nation's top orange producer - lost more than 4 percent of their orange crop because of freezing weather in January.
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