Orange Juice Futures Rally

Orange juice futures rallied strongly Friday on news that the Commerce Department placed tariffs on imports from two of Brazil’s largest producers for dumping juice in this country at unfair prices.

Frozen concentrated orange juice advanced 3 1/2 cents a pound at the Cotton Exchange in New York.

In some other markets, coffee was sharply lower; heating oil advanced strongly and other energy futures also were higher; the grains were mostly higher but soybeans declined; livestock and meat futures were mostly lower.

The decision in the anti-dumping case, brought by the Florida Citrus Mutual, means that 8.54 percent will be added to the price charged by two of Brazil’s three largest producers, amounting to about 5 cents a pound, said Judith Weissman, an analyst in New York with Shearson Lehman Bros..

The decision, which is preliminary and subject to revision, came amid talk that Brazil intends to raise its price between 1.15 cents and 1.20 cents a pound before winter comes to this country, bringing the annual threat to the Florida crop.

Brazil supplies half the orange juice consumed in this country.