Barry Callebaut Expects Stable Cocoa Prices
July 05 2012 - 4:15AM
Dow Jones News
Swiss chocolate manufacturer Barry Callebaut AG (BARN.EB)
Thursday said it expected cocoa prices to remain stable at current
levels.
The company is one of the world's largest buyers of cocoa, which
it turns into chocolate for customers such as Nestle SA (NESN.VX)
and Kraft Foods Inc (KFT).
Chief Executive Juergen Steinemann said cocoa prices have been
relatively stable in the last few weeks in the 1400 British pounds
($2190.15) to GBP1600 per tonne range.
"I expect prices to move more sideways than anything else," he
told Dow Jones Newswires.
He declined to give an outlook on this year's cocoa harvest,
which is due to start at the end of September and the start of
October.
"There will be more visibility as of October, but prices could
stay around the same level if there's no big surprises in the
crop," Mr. Steinemann said.
-Write to John Revill at john.revill@dowjones.com
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