Category: cocoa
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Mondelez forecasts steep drop in annual profit on soaring cocoa prices
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(Reuters)-Mondelliz International expects Cadbury, a greater decrease in its annual profits on Tuesday, indicating pressure from high costs, including the rise in cocoa prices, which led to a decrease in its shares by approximately 6 % after the bell. Cocoa prices – a major ingredient in chocolate – increased unabated…
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Pierre Andurand ditches oil in favor of copper and cocoa
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Pierre Andurand Famed oil trader Pierre Andurand is out of the oil market, at least for now. His main fund lost about 50% last year on bad bets on crude oil, and he is nervous about the sector and now has a “mixed” outlook. “We will re-engage in oil markets…