Consumer
Oreo Maker Will Keep Cookies Cheap Until Cocoa Prices Settle
- Mondelez CFO says drop in cocoa costs likely by next year
- Cocoa prices have surged as world faces massive shortage
Oreo cookies
Photographer: Shelby Tauber/BloombergThis article is for subscribers only.
Mondelez International Inc., the maker of Toblerone bars and Oreo cookies, is looking to protect chocolate sales volumes by continuing to offer treats at affordable prices, as it awaits an eventual decline in sky-high cocoa prices.
“My most probable scenario into next year is that costs will come down,” Chief Financial Officer Luca Zaramella said during a virtual conference hosted by Evercore ISI.