The Coca-Cola Company (KO) Plans Major Expansion of Florida Orange Groves

Bill Becker, president of Peace River Citrus Products in Vero Beach, is one of the growers. He said the new trees will be planted on land that once held citrus groves or on lands that are currently idle.

“It’s a big help to the entire industry and to the state, for that matter,” said Becker, adding that the research being done in Florida about the deadly citrus greening disease has bolstered the company’s confidence in the long-term health of the state’s citrus industry.

“Without some of the research that we’re conducting now, they’d probably be less enthused about planting,” he said.

Becker said he hopes that The Coca-Cola Company (NYSE:KO)’s investment will reverse the trend of declining citrus acreage in Florida.

The state’s citrus crop suffered huge losses this past season due to warm, dry weather, too much fruit on each tree and citrus greening disease.

According to the Florida Citrus Mutual, the citrus industry directly and indirectly contributes some 76,000 jobs in Florida.

The article Coke Plans Major Expansion of Florida Orange Groves originally appeared on Fool.com and is written by Associated Press.

The Motley Fool recommends Coca-Cola.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.