Mondelez International, the maker of Toblerone bars and Oreo cookies, is striving to maintain the affordability of its chocolate products despite the recent surge in cocoa prices. The company's CFO, Luca Zaramella, predicts that cocoa costs will decrease next year. Mondelez is committed to protecting its sales volumes by offering treats at affordable prices, even as cocoa prices experience volatility, including a recent 11% drop following a three-day rally. The company has stated that it will not increase the prices of Oreo cookies despite the cocoa market fluctuations, particularly those arising from the situation in West Africa. Mondelez's stock symbol is $MDLZ.
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$MDLZ | Oreo Maker Mondelez Aims To Keep Chocolate Affordable Amid Rising Cocoa Cost Mondelez maintains chocolate affordability despite cocoa price surge. CFO Luca Zaramella predicts cocoa costs will decrease next year. https://t.co/aQ9llkFyGh
Mondelez, the maker of Toblerone bars and Oreo cookies, is looking to protect chocolate sales volumes by continuing to offer treats at affordable prices, as it awaits an eventual decline in sky-high cocoa prices. https://t.co/VKChPYztLo