Chocolate Stocks Set to Feel Impact of Surging Cocoa Prices [BNN Bloomberg (Canada)]
NESTLE S.A S/ADR (NSRGY)
NASDAQ:AMEX Investor Relations:
nestle.com/investors
Company Research
Source: BNN Bloomberg
assess the impact that confectionery companies could face if costs of the key ingredient remain elevated. Cocoa futures have more than doubled in 2024 and soared above an unprecedented $10,000 a metric ton this week. The commodity has even managed to best the dazzling performance of artificial-intelligence darling Nvidia Corp., and it even became more expensive than copper. That's bad news for companies like Nestle SA and Hershey Co. While manufacturers buy beans months ahead of time, Wall Street anticipates these companies could struggle to pass the higher costs on to consumers to defend their profit margins if cocoa prices remain high. “Pricing power has its limits,” said John Plassard, a director at Mirabaud Group. He adds that the meteoric rise in cocoa prices “will undoubtedly affect the margins and sales of all producers in the industry.” Chocolate-related stocks around the globe are already feeling the heat. Switzerland's Nestle, Cadbury and Milka chocolates maker Monde
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