The cocoa market is experiencing significant turbulence, with a 150% increase in cocoa prices this year, signaling a potential record-setting trend. This surge is attributed to various factors driving prices to unprecedented levels. Concurrently, the S&P GSCI Coffee and Cocoa indices have shown remarkable monthly performance, ranking as the second and third best, with nearly a quarter increase in April alone. This price hike is impacting chocolate consumption, making it challenging to assess through traditional factory processing figures. Inflation has been running hotter than expected, further exacerbated by rising prices for commodities like coffee and cocoa, affecting everyday items such as hot drinks.
On Hershey $HSY, presented without comment: "It is entirely possible that Hershey has so little cocoa in its products that the financial impact won’t be particularly dramatic" h/t @lhamtil https://t.co/PYhYwAPHsp https://t.co/RYHt5hX5TT
The 150% rise in #cocoa this year may only be the beginning of a record run. @FrankCNBC lays out the factors driving prices to all-time highs. https://t.co/8n4r8Sx1yT
Why the world of #chocolate is in #crisis https://t.co/GyG71jsg4G
Inflation has been running hotter than expected in past few months, your hot morning drink in particular (unless you drink tea); S&P GSCI Coffee and Cocoa are both up by almost a quarter so far in April (2nd and 3rd best MTD performance across all @SPDJIndices https://t.co/FxjqdcsPhM
As the cocoa crunch deepens, it's getting harder to gauge chocolate consumption using factory processing figures https://t.co/WUAW5E4L2W