* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, July 4, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

    Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

    Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Hershey, Mondelez bet big on Easter as cocoa price crisis looms

March 29, 2024
in Business
Hershey, Mondelez bet big on Easter as cocoa price crisis looms
Share on FacebookShare on Twitter

(This March 26 story has been refiled to correct the data source to ‘NielsenIQ’ from ‘Nielsen’ in paragraph 23)

By Jessica DiNapoli, Maytaal Angel and Richa Naidu

NEW YORK/LONDON (Reuters) – Hershey, Mondelez (NASDAQ:) and other confection-makers are employing promotions and pitching more non-chocolate Easter treats like cookies ‘n’ cream bunnies at a time when soaring cocoa prices threaten their profits and shoppers balk at high prices.

With shoppers’ “impulse buys” of chocolate and candy at convenience stores and in grocery checkout lines down, according to industry data, special occasions like Easter and Halloween are increasingly important to the companies’ sales.

Cocoa prices have tripled over the past 12 months thanks to bean disease in West Africa, which continues to worsen, meaning companies are not expected to get relief anytime soon. Sugar prices are also up some 7%. 

Chocolate makers set their plans for this Easter last year, and have said they will hike prices again to cover the cocoa crunch. The companies face additional pressure on their profit margins as their hedges protecting commodity costs expire later this year and next.

But, the price hikes are coming at a delicate time as inflation-weary consumers are already pushing back.

That makes seasonal sales key. Easter sales of candy in the United States, the world’s biggest chocolate consumer, are expected to at least reach last year’s total of about $5.4 billion, although this will be driven mostly by price increases not volumes sold, according to the National Confectioners Association. 

Easter is the third-biggest occasion in the United States for buying chocolate and candies, with Halloween taking the top spot, followed by the winter holidays, according to the confectioners association. 

“People will buy during the holidays, but they will cut out impulse buying,” through the year, said David Branch, a sector manager focusing on cocoa at Wells Fargo Agri-Food Institute.

Data from the National Confectioners Association shows that last year, the volume of chocolate and candy sold for everyday occasions fell 3.6% compared to 2022. Volumes of chocolate and candy sold for seasonal occasions like Easter rose slightly by 0.1%.

Branch projects that given the continued inflation in cocoa, the trend will continue.

Hershey is shipping more non-cocoa treats to retailers this Easter in addition to its iconic Reese’s chocolate bunnies and eggs. It is introducing a new six-pack of cookies ‘n’ cream bunnies, offering full-sized Kit Kat lemon crisp bars and mixing Haribo gummy bears with chocolate bars in its assortment bags. 

Hershey spokesperson Allison Kleinfelter said consumers are continuing to buy seasonal products because parents want to preserve traditions like Easter baskets filled with chocolate bunnies and egg hunts. 

The non-chocolate Easter offerings have no connection to current cocoa prices, she added.

Simon Crowther, marketing director for seasonal confectionery UK at Mondelez told Reuters the Oreo cookie-maker has introduced a new “Cadbury Ultimate Egg” range, and a premium Toblerone “Edgy Egg,” aimed at older families and upmarket shoppers who may be more willing to splurge on chocolate.  

PUSHING INVENTORY

U.S. retailers have increased discounts on Cadbury, Reese’s, Hershey’s, M&Ms and Lindt this Easter versus last, according to research analytics firm Dataweave. 

Big box store Target and supermarket chain Kroger (NYSE:) are also offering bigger discounts on Easter candy this year compared to last, according to the firm. At Target in New York in early March, Reese’s mini eggs unwrapped, another new product for this season, and bunnies were buy one, get one for 50%.

A Kroger spokesperson said the grocer updated its strategy to include more frequent promotions on top-selling brand and pack sizes.

John Ament, an independent consultant and former global vice president of cocoa at M&Ms maker Mars, said there is no doubt that chocolate will be more heavily discounted this Easter compared to last because consumers are weary of price increases.

Chocolate makers have already pushed through price increases, “So this Easter will be more expensive than last year, and there’s less consumer appetite to spend,” he said.

He added that this year’s holiday will be tougher than 2023’s because of the hikes. 

“The category will see slower if any growth in the coming year,” he said.

Chocolate firms tend to hedge their raw material purchases up to 12 months in advance, and with the bulk of the cocoa price surge happening this quarter, current chocolate making costs will come to be seen as low at the end of the year.

Even so, it’s getting tougher to push through price hikes. Data from NielsenIQ shows the price per unit of chocolate in the U.S. rose 10.4% in the year to early March, versus a 14.3% gain in the same period a year earlier. 

A Mondelez’ spokesperson told Reuters that as input costs rise this year, the company will consider not just price hikes but “changing the unit weights” of its chocolates – a technique commonly known as “shrinkflation.”

“We’ve had a couple of years now of strong price increases in chocolate and you tend to find in the first year, the elasticity is okay, in the second year it gets worse, and now we’re in a third year, its going to be awful,” said Kepler Cheuvreux analyst Jon Cox.

He said premium chocolate makers like Lindt will likely fare better because the already high mark-up on their chocolate means they might be able to hike prices less, in percentage terms, than regular chocolate makers.

© Reuters. Candy for sale is displayed on shelves at a Target store in Manhattan in March, New York, U.S., March 6, 2024. REUTERS/Jessica DiNapoli/File Photo

But he added: “Even they will see sales volume pressure, its not going to be an easy year for them.”

Mass-market chocolatiers like Mondelez are also more likely to invest in brands not tied to cocoa, consultant Ament said. The Chicago-based company also sells crackers, cookies and other snacks.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Investing.com – https://www.investing.com/news/economy/hershey-mondelez-bet-big-on-easter-as-cocoa-price-crisis-looms-3357775

Tags: businessHersheyMondelez
Previous Post

Morning Bid: Yen wary of holiday calm as Q1 curtain falls

Next Post

US may soon unveil list of Chinese chip factories barred from receiving tech

Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

July 4, 2025
Penn State Ranks Inside Top Five in EA Sports College Football 26, QB Drew Allar Makes Rating Jump – Yahoo Sports

Penn State Ranks Inside Top Five in EA Sports College Football 26, QB Drew Allar Makes Rating Jump – Yahoo Sports

July 4, 2025
Church adds Mass ‘for care of creation’ to missal, pope to celebrate – usccb

Pope Introduces New Mass Dedicated to Caring for Creation

July 4, 2025
How UMich computer science students are navigating a shifting job market – The Michigan Daily

How UMich computer science students are navigating a shifting job market – The Michigan Daily

July 4, 2025
Genoa Central Junior High Student Places in the 2025 Soybean Science Challenge – TXK Today

Genoa Central Junior High Student Excels in 2025 Soybean Science Challenge

July 4, 2025
Maison & Objet, the Paris-based home and lifestyle trade show, announces leadership change – FashionNetwork India

Maison & Objet Reveals Dynamic New Leadership to Transform the Future of Home and Lifestyle

July 4, 2025
World’s biggest climate fund ramps up investment plans – Reuters

World’s Largest Climate Fund Accelerates Ambitious Investment Plans

July 4, 2025
US economy ‘on wobbly footing’: Why Wall Street strategists are cautious about stock market’s recent records – Yahoo Finance

US Economy on Shaky Ground: Why Wall Street Strategists Are Cautious Despite Stock Market Records

July 4, 2025
MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

July 4, 2025
Supreme Court declines to hear case challenging parental consent for abortion – CNN

Supreme Court declines to hear case challenging parental consent for abortion – CNN

July 4, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (704)
  • Economy (730)
  • Entertainment (21,618)
  • General (15,702)
  • Health (9,768)
  • Lifestyle (734)
  • News (22,149)
  • People (730)
  • Politics (737)
  • Science (15,947)
  • Sports (21,228)
  • Technology (15,714)
  • World (710)

Recent News

Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

July 4, 2025
Penn State Ranks Inside Top Five in EA Sports College Football 26, QB Drew Allar Makes Rating Jump – Yahoo Sports

Penn State Ranks Inside Top Five in EA Sports College Football 26, QB Drew Allar Makes Rating Jump – Yahoo Sports

July 4, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version