(Bloomberg) -- Stockpiles of orange juice in Brazil, the world’s top exporter, have reached the lowest in 12 years in a looming sign of a global shortage as Florida’s production declines and faces threat from what’s shaping up to be a concerning hurricane season. 

Brazil reached the end of its season in June with 84,745 metric tons of juice in storage, a 41% drop versus the previous year and the lowest level since industry group CitrusBR started compiling the data. 

The inventory drawdown follows weaker-than-expected production and signals there will be a struggle to keep up with global demand. With an even smaller harvest estimated this year amid impacts from the spread of the citrus-greening disease, CitrusBR warned that there might be difficulties for juice supply going forward. 

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The world is increasingly reliant on Brazilian juice following prolonged US supply woes as Florida faced the impacts of disease spread and destruction from hurricanes in the past year. Orange-juice futures traded in New York have jumped more than 50% this year. 

Now, there are fears that this year’s hurricane season could once again put Florida crops in jeopardy.

“It does spook traders,” said Judy Ganes, a consultant who has followed the industry for about three decades. She expects continued supply issues and surging prices to end up killing demand, with global juice consumption set to slow down as futures trade near record highs.

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