Cocoa

Lindt Delivers Steady Sales And Launches Share Buyback

Lindt posted first-half organic sales of 2.16 billion Swiss francs, in line with expectations, and announced a share buyback programme.

Barry Callebaut shares fell after the chocolate maker announced that quarterly sales volumes had declined as cocoa prices boosted costs.

The Ivory Coast’s cocoa regulator has suspended purchase and export of cocoa beans for the month of June, sources said on Thursday.

The cocoa grind in the Ivory Coast was down 19.8% year-on-year in April amid heatwaves impacting growth in the country’s rainy season.

World cocoa prices fell by about 20% in two days as technical triggers prevailed thanks to record-low liquidity. Prices recovered on Tuesday.

Cocoa harvesting in the Ivory Coast is expected to pick up from May as weather conditions improved, according to farmers in the region.

Cocoa futures in both London and New York set record highs on Monday, due in part of a supply shortage of the plant.

Price hikes are being planned by the makers of Hershey and Cadbury chocolate amidst rising cocoa prices.

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