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
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.