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VisitHershey 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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Markets
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ICE Futures exchange cocoa price reports
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ICE Futures exchange reports or financial news outlets
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Hershey's official announcements or press releases
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Hershey's official press releases or financial reports
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Official announcement from the CFTC or Hershey press release
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CFTC official announcements or press releases
Price increases • 25%
No significant changes • 25%
Alternative sourcing • 25%
Reduced product sizes • 25%
Press releases and news reports from major chocolate manufacturers
No significant change • 25%
Increased domestic sourcing • 25%
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Diversified sourcing • 25%
Hershey's official announcements or industry reports
Deficit • 25%
Severe Deficit • 25%
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Reports from ICE Futures exchange and major financial news outlets
Deficit less than 5% • 25%
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Deficit more than 5% • 25%
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Reports from the International Cocoa Organization (ICCO) and other industry reports
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Approved in full • 33%
Approved with restrictions • 33%
Official announcement from the CFTC or Hershey press release
Rejected • 25%
No decision by deadline • 25%
Approved as requested • 25%
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CFTC official announcements or press releases