Bucks fizz might be off the Christmas list this year as Brits are hit with a 54 per cent increase in the price of orange juice.
The weakened value of the pound, combined with extreme weather conditions and crop disease which have led to global supply shrinking to its lowest since 2009, have forced prices higher.
Purchasing firm Beacon said it expected the increase to continue into the new year.
Kelley Walker, category manager for drinks at Beacon, said: “The festive season might have a little less sparkle over the next few weeks, as manufacturers are hit with a significant increase in the cost of orange juice, a key ingredient in the classic Bucks Fizz and the price of fresh fruits continues to fluctuate.”
In June, Tropical Storm Colin caused massive rainfall in Florida, subsequently damaging orange crops that were already in decline due to an outbreak of citrus greening disease - this led to an estimated decline of 24 per cent in Florida orange crops. At the same time crops in Brazil, the world’s largest orange grower and juice exporter, were also badly damaged by heavy rains and citrus greening disease, further impacting global pricing.