Orange juice prices have soared to record highs, driven by bad weather and disease in Brazil, the world’s largest exporter, prompting manufacturers to explore whether they can use mandarins instead to make the drink.

Orange juice futures — which allow industry players to hedge against swings in prices — have been on a tear since the end of 2022 when a hurricane, then a cold snap, devastated acres of orange groves in Florida, the main growing region in the US, the world’s second-biggest producer. But the rally has accelerated sharply this month as the prospect of a dismal harvest in Brazil has panicked the market.

Concentrated orange juice futures, traded on Intercontinental Exchange in New York, hit $4.92 a pound on Tuesday, almost double the price a year ago.