The product was developed in 1948 at the University of Florida’s Citrus Research and Education Center. Since, it has emerged as a commodity product, and futures contracts have traded in New York since 1966. Options on FCOJ were introduced in 1985. From the late 1950s to the mid-1980s, the product had the greatest orange juice market share, but not-from-concentrate juices surpassed FCOJ in the 1980s
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Commercial squeezed orange juice is pasteurized and filtered before being evaporated under vacuum and heat. After removal of most of the water, this concentrate, about 65% sugar by weight, is then stored at about 10 °F (−12 °C). Essences, Vitamin C, and oils extracted during the vacuum concentration process may be added back to restore flavor and nutrition.