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A drone view shows a flooded street after Hurricane Milton made landfall in South Daytona, Florida, U.S., October 11, 2024. Ricardo Arduengo
A drone view shows a flooded street after Hurricane Milton made landfall in South Daytona, Florida, U.S., October 11, 2024. Ricardo Arduengo
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Hurricane Milton caused $1.5-$2.5 billion in losses to Florida agriculture

October 17th, 2024 | 19:14 PM MARKETS Commodities 2

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By Karl Plume

Hurricane Milton caused an estimated $1.5 billion to $2.5 billion in damage to Florida's crops and agricultural infrastructure, according to a preliminary assessment released by the state's Department of Agriculture and Consumer Services on Thursday.

The majority of Florida's citrus producing counties were hit with high winds and flooding, along with areas that raise dairy cattle and produce products like cotton, peanuts, rice, blueberries, strawberries and other tropical fruits, the agency said.

Milton came ashore as a Category 3 hurricane on Oct. 9 and carved a swathe of destruction across 51 counties, 34 of which were declared disaster areas, with widespread flooding and wind damage.

Florida's citrus sector sustained "significant production losses" and likely long-term impacts, the agency said.

"Most of these losses are due to fruit drop, damage to branches, and impacts from heavy precipitation and flooding. Growers are also reporting heavy infrastructure damage, and there are major concerns of flood-caused tree mortality in the near-future," it said in the preliminary report based on initial reporting and communication with farmers.

"Minor to catastrophic damages" were expected in cotton, peanut and rice areas.

The state's dairy and cattle operations were also severely hit with "significant infrastructure damages" while power outages in the storm's wake disrupted cow milking and production.

More complete damage assessments will be released at more information is gathered, the agency said.

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  • MILTON/CROPS (UPDATE 1)
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