Cocoa cheaper
My assumption, that the pressure on cocoa prizes will ease at some point, is turning out well, and faster than I thought. The past few weeks the prize per tonne has come down from about $10,000 to less than $9,000. Remember the ATH was above $12,000 per tonne so that lifts quite some pressure from chocolate manufacturers.
Mondelez rises
Mondelez reacted with a nice double digit gain and it looks like the turnaround is running. My speculative position, that I started to stack a few weeks ago, is well in the green (+12%). This is a bit of a surprise but a positive one. Didn‘t expect things to evolve that quickly.
Have you invested in confectionery companies?