Coke (KO) Confirms Fungicide Found in Orange Juice Products, First to Warn FDA
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Coca-Cola (NYSE: KO) confirmed rumors it was the company which detected an unapproved fungicide by the FDA in its orange juice products. The company told federal regulators Brazilian growers had sprayed orange trees with a foreign substance.
Coke's orange juice brands consist of Simply Orange and Minute Maid.
Pepsi (NYSE: PEP) shares moved lower Wednesday afternoon following rumors the company did not warn the FDA about the fungicide in its Tropicana orange juice products.
The oranges are confirmed to have come from Brazil, which accounts for roughly 13 percent of the U.S.’s consumption. Florida oranges account for about 75 percent of consumption.
Coke's orange juice brands consist of Simply Orange and Minute Maid.
Pepsi (NYSE: PEP) shares moved lower Wednesday afternoon following rumors the company did not warn the FDA about the fungicide in its Tropicana orange juice products.
The oranges are confirmed to have come from Brazil, which accounts for roughly 13 percent of the U.S.’s consumption. Florida oranges account for about 75 percent of consumption.
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