Reported 1 day ago
Hershey Co. is seeking approval from the U.S. Commodity Futures Trading Commission (CFTC) to buy over 90,000 metric tons of cocoa through the New York exchange, significantly exceeding the current position limits due to global supply shortages and soaring prices. The chocolate maker's request comes as it faces higher cocoa costs in 2025, following adverse conditions affecting cocoa production in key regions. Hershey's push for a large position could impact the futures market, reflecting its previous attempts to navigate supply challenges.
Source: YAHOO