No. of Recommendations: 1
am skeptical if cocoa prices are in hershey's top 10 expenses or worries. its uncorrelated to their volumes; they probably think marketing is the only fix.
many makers of high quality small batch cocoa (>60%) products are going bust given their small scale and fwd cost curves. this may also help hershey out a bit, since they dont need much.
from march-may, i was picking up great dark chocolate at ~80% discounts from multiple mainstream grocers.
as always, 3rd world farmers are the real tragedy. but not at the point where hershey would care to make a difference.
