Tropicana Raising Juice Prices

MIAMI (CBS4) - Tropicana said Tuesday it will be raising the price of some of its juices by upwards of 8 percent to try and deal with high costs due to the cold weather that hit Florida's citrus crops this winter.

The company, owned by Pepsi, said that two extreme freezes, the coldest December on record, and a smaller-than-expected crop for the second year in a row were the causes of the impending price hike.

According to the U.S. Department of Agriculture, orange production in Florida is down, but the full impact of the winter's cold temperatures won't be known until later in the year.

The USDA report says early and midseason citrus varieties in Florida shrunk by 1 million to 66 million while the projection for Valencia oranges also decreased by 1 million boxes to 72 million boxes this season.

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