HERSHEY CHOCOLATE COMPANY
Sweet Profits, Bitter Reality: Who gains the most from the cocoa price surge?
The cocoa industry is facing significant shifts as cocoa prices soar, driven by poor harvests in West Africa. While prices have surged to record highs, small-scale producers in regulated countries like Ivory Coast and Ghana see limited benefits due to pre-set prices. Meanwhile, less regulated countries like Cameroon and Nigeria gain more from market trends. Major processors struggle with high costs and production slowdowns. Climate change, bean disease, and low farmer incomes exacerbate the situation, leading to child labor and land sales. Despite these challenges, major chocolate companies continue to report significant profits.
Why prices for chocolate and cocoa went nuts
For much of the past decade, the price of cocoa in one key global benchmark hovered around $2,500 per metric ton.
It's a bittersweet Easter for chocolate lovers but big companies see profits
With exports from the Ivory Coast, the world's top producer, down by a third in recent months, the global price of cocoa has risen sharply. Cocoa futures have already doubled this year, trading at a record high of more than $10,000 per metric ton in New York on Tuesday after rising more than 60% the previous year. Farmers who harvest cacao beans say the increases aren't enough to cover their lower yields and higher production costs.
Cocoa’s relentless rally is pushing the market to breaking point
Cocoa futures have surged as poor harvests in West Africa, where most of the world’s beans are grown, sparked a third year of shortages.
Global cocoa shortage to drive up cost of chocolate bars
Rising cocoa prices due to supply shortages are impacting chocolate manufacturers globally. Companies are considering price hikes, alternative strategies, and renegotiating contracts to manage increased costs, while uncertainties in cocoa prices remain a significant concern for the industry.
Cocoa futures set record high, coffee and sugar also up
Cocoa futures in London and New York set record peaks on Tuesday as the market continued its relentless rise while coffee and sugar prices were also higher.
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Geetika Mehta from Hershey joins Nivea India as its MD
Nivea has named Geetika Mehta as the new managing director for its Indian business, where she plans to focus on innovation, customer experiences, and solidifying Nivea's position in the skincare market. Mehta, known for her success in leadership roles, previously served as the managing director at Hershey India and had an extensive tenure at Hindustan Unilever Limited.
Chocolate cravings are going to get more expensive to satisfy
Heavy rains and a rot-causing disease have ravaged crops there, sparking concerns about supply. Bean processing has also slumped around the world which is crucial for turning products into chocolate indicating that factories are struggling to access adequate volumes, according to Fuad Mohammed Abubakar, the head of Ghana Cocoa Marketing Company UK.
You are likely paying more if buying from Ads online
Microtargeting, the ability to track people's online behavior and interests to deliver targeted ads, has turned out to be an unbeatable advantage for the online ad industry, which is now a $540bn global market. But the rise of microtargeting has come at a cost, with studies revealing that the efficiency gains from this system do not outweigh the societal impact.
International Chocolate Day 2022: Here are chocolaty greetings, wishes to celebrate this day
It’s International Chocolate Day on September 13. We’ve got all you need to know about the day, along with some chocolaty greetings, wishes and quotes for you. Globally, World Chocolate Day is celebrated on July 7
Food and beverage companies going heavy on diet product launches, campaigns
"A combination of upcoming labelling guidelines and higher consumer demand for healthier products post Covid-19 is triggering new investments in the healthier foods space, and significant reduction in sugar and salt in packaged foods," said Parle Products senior category head Mayank Shah.
Companies selling soy and almond milk replace ‘milk’ with ‘beverage’
Life Health Foods. which sells 4-5 million litres of almond and soymilk under the So Good brand said it has started rolling out the new packaging after replacing the term milk with beverage
Communities versus commodities: The real dark side of chocolate involves more than what meets the eye
Chocolate companies need to be more open about how they will source and support change, while growers and governments need to be clear about implementation.
Trouble brewing: Mars and Hershey's accused of not paying fair bonus to cocoa farmers
There have been long-running tensions with US multinationals over pricing.
FSSAI moves to stop use of word ‘milk’ on non-dairy products
The Food Safety and Standards Authority of India (Fssai) has issued a new draft notification, proposing to prevent the use of the word on the pack of non-dairy and plant-based dairy products.
Chocolate maker Hershey India partners with Swiggy and Dunzo to widen reach post lockdown
With Indians increasingly cooking snacks at home amid the lockdown, the company launched the online store as an additional avenue for consumers to access its products besides existing physical stores and e-commerce platforms.
India, Mexico worst affected international operations, says Hershey's
The Pennsylvania-based firm, which sells drop shaped bite-sized chocolate candies 'Kisses' in India, is still a fringe player in the country’s chocolate market where Mondelez controls two-thirds of the market, followed by Ferrero and Nestle.
How corporate museums help companies stay grounded
Corporate museums help companies connect with their past and reach out to employees and the public for a brighter future.
Ferrero India melts into a loss in FY18
The maker of Kinder Joy chocolates and Nutella chocolate hazelnut spread posted revenues of Rs 1,538 crore, with net loss of Rs 89.6 crore during year to March 2018.
For Hershey, India is a sweet spot to invest in: CEO Michele Buck
Hershey’s launched its ‘Kisses’ chocolate in the country on Wednesday, nearly 110 years after it was first introduced in its home market, the US.
Hershey India appoints Herjit S Bhalla as its new MD
The Hershey Company President International Steven C. Schiller said, "India is a key focus market for Hershey, globally. I am confident that Bhalla's leadership will continue the growth path we are on in India".
Ferrero is said to be near deal for Nestle U.S. chocolates
Ferrero, which has traditionally shied away from acquisitions, is expanding its portfolio beyond Nutella hazelnut spread, Tic Tac candies and Ferrero Rocher chocolates.
Hershey to invest USD 50 million in India over 5 years
The firm, which recently announced its third quarter global earnings, had said that India has emerged as the fastest growing market, clocking a net sales growth of 16 per cent.
Hershey will take lessons from India to global markets: Michele Buck, CEO
The earnings report said the profitable range of products from India grew 40 per cent in the latest quarter, including Hershey’s Syrups, spreads and milkshakes.
Bombay High Court admits Hershey’s winding up petition against Lokmangal Sugar
Solapur based Lokmangal Sugar & Ethanol had entered into an agreement with the Indian unit of Hershey Company last year to supply sugar, assuring them that their requirement will be kept separately.
In light of recent developments at Tata Sons, are trusts suited to run modern day business empires?
A great deal is being made about the performance of Tata companies, but perhaps it's time for some scrutiny of the Trusts activities as well.
Hershey close to acquiring healthy snacks company Krave: sources
The deal is expected to value Sonoma, California-based Krave at between $200 million and $300 million, the people said this week. An announcement could come as soon as this week, they added.
Hershey's mulls an end to JV with Godrej, plans to go solo in India
The US candy maker is currently understood to be negotiating a buyout in its existing stake in the joint venture with Godrej that was formed in 2007.
IL&FS Investment Managers Ltd may buy out Hershey Company's stake in its joint venture with Godrej group
The deal will allow IL&FS to regain ownership over the co as its PE arm was the financial investor from whom Hershey had bought 40 % stake.
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