News Formal

US company Hershey grabs cocoa stocks from exchange, avoids African price premium

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 66%

日本 ニュース ニュース

日本 最新ニュース,日本 見出し

U.S. chocolate maker Hershey Co has positioned itself to receive a sizeable amount of cheap cocoa from futures exchange ICE, a move that ...

U.S. chocolate maker Hershey Co has positioned itself to receive a sizeable amount of cheap cocoa from futures exchange ICE, a move that highlights difficulties African producers are having to sell beans at a recently-agreed premium, traders said.

According to several market sources, Hershey moved to take delivery of thousands of cocoa lots before the December contract expires on Dec. 15. Dealers suggest volumes of up to 30,000 tonnes.Hershey's move happens in a moment when Ghana and Ivory Coast, the world's top producers, are selling their first full crop under a new scheme that includes a price premium of US$400 per tonne, created to help alleviate farmer poverty.

"The exchange right now is the cheapest place to buy cocoa," said a U.S.-based broker, indicating Hershey's move was justified by lower prices compared to the hefty African premiums. The two African countries reacted to the ICE trade, threatening to suspend cocoa companies' sustainability schemes.

 

コメントありがとうございます。コメントは審査後に公開されます。
このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

 /  🏆 6. in JP

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Naturgy to invest up to US$1.8 billion in US after US$57 million acquisitionSpanish power company Naturgy plans to invest up to US$1.8 billion in the United States after making its first push into the U.S. renewable market ...
ソース: ChannelNewsAsia - 🏆 6. / 66 続きを読む »

US regulator fines JPMorgan Chase US$250 million for failings in fiduciary businessThe Office of the Comptroller of the Currency (OCC) on Tuesday fined JPMorgan Chase Bank US$250 million for the bank's failure to 'maintain ...
ソース: ChannelNewsAsia - 🏆 6. / 66 続きを読む »