Coke Slips after Orange Juice Fungicide News

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Coca-Cola (KO) shares fell 1% after the company said it had alerted the FDA that some oranges used in its orange juice had been sprayed with a fungicide in Brazil that is illegal in the U.S.

Coca-Cola found low levels of the fungicide carbendazim in its orange juice and in the juice of competitors, according to a CNNMoney report. Coke makes Simply Orange and Minute Maid, but it was unclear which of these brands may have been affected. It’s also not clear which other orange juice makers may have been affected.* The FDA, however, says it isn’t planning to take action to remove the OJ with the fungicide from shelves in the U.S., and the levels appear to be low, CNN says.

The FDA has nonetheless halted orange juice shipments from overseas to test for the fungicide.



Original Article Source by Barrons.com