Cocoa at US$10,000 a tonne has inflation taking a bite out of the Easter Bunny [BNN Bloomberg (Canada)]
Mondelez International, Inc. - Class A (MDLZ)
Last mondelez international, inc. - class a earnings: 4/28 04:05 pm
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Source: BNN Bloomberg
But the latest bittersweet twist in the story is unfolding now as the cost of chocolate is skyrocketing — and everyone from Big Chocolate to the Easter Bunny are feeling the bite. This week, cocoa futures in New York eclipsed the US$10,000 per metric tonne mark, a record-high. The last time cocoa futures were above even $5,000 was 46 years ago. The skyrocketing price of cocoa this year has even outpaced that of stock market darling Nvidia. It's happening because of a complex interplay of factors, mostly supply constraints in West Africa. But a quadrupling of prices in under a year has fundamentally shifted the dynamics of the market, as buyers and sellers move from orderly trading to a more frenzied scramble to secure supply. “This is not a speculative bubble that can burst from a shift in market sentiment,” says Judith Ganes, president of JGanes Consulting, a commodity advisory services firm. “Buyers are scrambling to secure supplies… be it beans, cake, butter, or powder to ass
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MDLZ
Earnings
- 1/30/24 - Beat
MDLZ
Sec Filings
- 4/26/24 - Form PX14A6G
- 4/12/24 - Form PX14A6G
- 4/5/24 - Form DEFA14A
- MDLZ's page on the SEC website