Cocoa prices are soaring. Candy makers will need to get creative [CNBC]
J & J Snack Foods Corp. (JJSF)
Last j & j snack foods corp. earnings: 4/27 04:00 pm
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Source: CNBC
Prices of cocoa have more than tripled over the last year, creating a big headache for candy makers and other food companies that use the ingredient to make chocolate. In recent years, the price of cocoa had hovered at around $2,500 per metric ton. But reports of a weaker-than-expected crop set off concerns about supply, sparking the commodity's run-up in recent months. Cocoa hit an all-time high of more than $11,000 per metric ton in April. The price surge has since eased off slightly, but the crop is still commanding well above what food companies are used to paying. For now, many of the largest candy companies — Hershey , M&M's maker Mars, Kinder owner Ferrero and Cadbury parent Mondelez — are likely protected from higher cocoa costs, thanks to long-term contracts that lock in the prices they pay for key commodities to protect them from events just like this. That gives them some lead time to grapple with the issue. But come 2025, they'll likely end up paying much more for the
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JJSF
Earnings
- 8/5/24 - Miss
JJSF
Sec Filings
- 9/4/24 - Form 4
- 8/30/24 - Form 144
- 8/19/24 - Form 4
- JJSF's page on the SEC website