Cocoa prices are soaring. Candy makers will need to get creative
Publishing timestamp: 2024-06-15 07:00:01
Summary
Cocoa prices have soared, causing issues for candy companies. While some are protected by hedging contracts for now, the high prices could impact innovation. West Africa's cocoa crop is facing challenges, leading to supply concerns. Food companies may need to get creative to deal with the rising costs, including potential recipe changes and diversification into other snack categories.
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Keywords: mondelez international inc, cocoa (may'23), business, cocoa farming, breaking news: business, breaking news: economy, restaurants, j & j snack foods corp, cocoa markets, mars acquisition corp, hershey co, economy, retail industry, food and drink, snacks manufacturing, business news,
Source: https://www.cnbc.com/2024/06/15/candy-makers-cocoa-prices.html