Barry Callebaut CEO Seems Relaxed About El Nino Risk, Cocoa Markets, Barclays Says
Dow Jones
Sep 09
0521 GMT - Barry Callebaut's CEO Hein Schumacher appeared notably relaxed on cocoa markets and El Nino risk at the Barclays Global Consumer Staples Conference, analysts say. Schumacher's tone stood in sharp contrast to investor concerns, the Barclays analysts add. The CEO's stance was that market reactions have become too sensitive following the cocoa crisis and the industry entering a second consecutive year of a cocoa surplus, according to the analysts. Callebaut's CEO doesn't see evidence that cocoa price volatility will prompt more retail chocolate price inflation, they add.
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