Page 31 - Hershey Co News Today : Breaking News, Live Updates & Top Stories | Vimarsana

(Bloomberg) -- Traders piled in to buy cocoa options this week as futures surged to record highs on concern global supplies will be tight after drought and disease ravaged crops in top West African producers. Most Read from BloombergBiden’s Attempt to Address Memory Issue Backfires With New GaffeChina’s Property Crisis Is Starting to Ripple Across the WorldStock Mania Rages On as S&P 500 Closes Above 5,000: Markets WrapNew York City Is Considering a Laundry Pods CrackdownPutin Showed Carlson Why

Hershey is cautioning on its 2024 profit growth as the company contends with rising cocoa costs that are leading to higher prices for chocolate. Cocoa futures prices have doubled over the past year and hit an all-time high of $5,874 per metric ton on Friday. Bad weather in West Africa is being blamed for damaging crop yields, which is pushing cocoa prices higher.

Hershey is cautioning on its 2024 profit growth as the company contends with rising cocoa costs that are leading to increased prices for chocolate

Hershey is cautioning on its 2024 profit growth as the company contends with rising cocoa costs that are leading to increased prices for chocolate. The company anticipates its full-year earnings per share being relatively flat, partly due to higher cocoa and sugar costs.

Hershey is cautioning on its 2024 profit growth as the company contends with rising cocoa costs that are leading to higher prices for chocolate. Cocoa futures prices have doubled over the past year and hit an all-time high of $5,874 per metric ton on Friday. Bad weather in West Africa is being blamed for damaging crop yields, which is pushing cocoa prices higher.