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