Market
What will be the outcome of Hershey's request to the CFTC for cocoa purchase by March 31, 2025?
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Resolution / Starting Odds
Approved as requested • 25%
Approved with conditions • 25%
Rejected • 25%
No decision by deadline • 25%
CFTC official announcements or press releases
Story
Hershey Seeks CFTC Approval to Buy Over 90,000 Metric Tons of Cocoa, Nine Times More Than Allowed, Amid Record Prices
Jan 8, 2025, 06:04 PM
Hershey is seeking approval from the U.S. Commodity Futures Trading Commission (CFTC) to purchase over 90,000 metric tons of cocoa on the ICE Futures exchange in New York. This request comes amid global cocoa shortages that have driven prices to record levels. The chocolate manufacturer aims to acquire nine times more cocoa than is typically allowed by the exchange, as the cocoa market is projected to experience another deficit.
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